FB pixel

Next Biometrics attracts $14.78M investment from Swedish investors

Next Biometrics announced it has drawn an investment of 120 million Norwegian crowns (US$14.78 million) from Greenbridge Partners, a firm founded by Swedish investors Melker Schorling and Ola Rollen, according to a report by Reuters.

The news caused Next Biometrics’ shares to sharply rise by 64 percent, early Friday morning.

“Greenbridge Partners Ltd has undertaken a thorough process before making the investment decision,” Next said in a statement.

Schorling’s investment company Melker Schorling AB holds a major stakes in various companies, including measurement technology and software firm Hexagon, lock maker Assa Abloy and security provider Securitas.

Ola Rollen, CEO at Hexagon, also owns a big stake in Next’s Swedish peer Fingerprint Cards.

He told Reuters that “Next has a fantastic opportunity to become a big player within smartcards,” partly because the company’s thermal technology is less brittle than the silicon wafers used by its competitors — an important characteristic when considering credit cards need to be able to bend.

Next will hold a meeting with shareholders to approve the planned issue of two million shares at a price of 60 crowns (US $7.39) each.

Previously reported, Next Biometrics issued its financial report for the second quarter of 2015, in which the company’s net loss increased to 24.5 million NOK (US$3 million) compared to 19.6 million NOK in the same period last year.

Article Topics

 |   |   |   |   |   | 

Latest Biometrics News

Comments

9 Replies to “Next Biometrics attracts $14.78M investment from Swedish investors”

Leave a Reply to STHLMTech Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Research

Biometrics White Papers

Biometrics Events

Explaining Biometrics