Precise Biometrics signs frame agreement with auto manufacturer

Precise Biometrics has just signed a frame agreement with one of the world’s largest automobile manufacturers, though at this point, details on the new deal are vague.

According to the company, Precise received its first Tactivo order from this unnamed car manufacturer in the summer of 2012 and the company has since used Tactivo as part its security infrastructure, extending existing investments for encryption and authentication.

Specifically, Precise Biometrics has now signed a frame agreement with the auto manufacturer for further supply of Tactivos, with an expected duration of several years.

“We are very pleased with this agreement enabling a long-term supply of Tactivo to their business. We have worked closely with this customer to ensure that our solution met their enhanced security needs,” Thomas Marschall, President and CEO of Precise Biometrics said. “We remain committed to collaborate with them to widen the scope and the use cases around Tactivo. We expect to sell several thousand Tactivos to the company per year in the coming years. This co-operation is one of many ongoing interesting projects within the enterprise segment for Tactivo. We hope to release the name of this customer in our upcoming quarterly report.”

Reported previously, the fourth-generation Tactivo for iPad was recently MFi- approved by Apple and made ready for launch.

Also, the company has seen a strong start to 2013, boasting impressive sales stastics for Q1 2013, totaling US$2.53 million (SEK 16.8 million).

 

Article Topics

authentication  |  cars  |  Precise Biometrics  |  Tactivo