March 28, 2017 -
Precise Biometrics and NXP Semiconductors have signed a framework agreement covering Precise Biometrics fingerprint software.
NXP will enhance its fingerprint reader security by integrating Precise Biometrics’ BioMatch fingerprint recognition software.
The first business agreement under the framework agreement covers licensing of fingerprint software for embedding into NXP´s fingerprint reader products. The business agreement includes a per unit license fee, a fee for support and maintenance and a fee for non-recurring engineering efforts. Initial revenues generated under the agreement will be recognized starting from the first quarter of 2017.
“NXP Semiconductors is a leader in secure connectivity solutions for embedded applications and we are pleased to enter this framework agreement,” said Håkan Persson, CEO of Precise Biometrics. “The agreement presents opportunities for further cooperation in a wide range of secure identification areas and strengthens our position as the leader in fingerprint software.”
Earlier this year, Precise entered into an extended software license and distribution agreement with an existing sensor customer that guarantees minimum total license revenues of 17.5 million SEK ($1.98M USD) during 2017 and 2018 for the use of Precise BioMatch Mobile.