IDEX acquires PicoField, brings co-founders on board
PicoField develops touch fingerprint sensor designs aimed at consumer devices, and is based in the U.S. The financial terms of this deal have not been disclosed.
“This acquisition consolidates IDEX’s presence in the biometric market, and adds strong patents and additional intellectual property enhancing our portfolio in the field of low cost touch fingerprint sensors for mass market applications,” Hemant Mardia, CEO of IDEX said. “PicoField holds significant patents and technology which are expected to accelerate IDEX’s programme for industry disruptive touch sensors for the mobile communication market, in addition to our award-winning swipe sensor technology.”
According to the company, Idex will employ PicoField’s founders – Fred Benkley and David Geoffroy — at its U.S. subsidiary, Idex America.
Benkley and Geoffroy were also co-founders of Validity Sensors, where they held senior technical positions.
Earlier this month, World Wide Touch Technology invested $5M in Idex, acquiring 7,365,060 in a private placement.
In 2007, IDEX was granted a license to certain key patents owned by UPEK Inc and they were later assigned to AuthenTec, acquired by Apple last year. Recently, Apple and AuthenTec verified IDEX’s licensing agreement through a notice of so-called “recordal” of the license to key patents in the field of fingerprint sensing.