March 31, 2017 -
Precise Biometrics announced that ZEITEC has signed an agreement to license its Precise BioMatch Mobile algorithm solution for fingerprint recognition in mobile devices.
The agreement, which includes a per unit license fee and annual fees, grants ZEITEC the right to use Precise Biometrics algorithm solution as well as access to support and maintenance.
Precise Biometrics is currently projecting that some initial revenue generated under the agreement will be recognized starting from the first quarter of 2017.
The per unit license fee is volume dependent and therefore cannot be forecasted at this time, according to the company.
“We are pleased that ZEITEC has chosen our fingerprint software to provide the best user experience and security for their fingerprint sensors” said Håkan Persson, CEO of Precise Biometrics. “The cooperation strengthens our position as the leader in fingerprint software.”
Precise BioMatch Mobile is a patented algorithm solution that provides convenient and secure fingerprint recognition in smartphones and tablets.
Optimized for small fingerprint sensors and platforms with limited processing power and memory, Precise BioMatch Mobile provides a fast, accurate, and secure verification process when unlocking mobile devices or authenticating to services.
Previously reported, Precise Biometrics and NXP Semiconductors signed a licensing agreement covering Precise Biometrics fingerprint software.