Precise Biometrics enters license agreement with MStar, announces Annual General Meeting
Precise Biometrics announced an agreement with MStar Semiconductor for licensing of Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile.
MStar is a leader in application specific ICs with a focus on consumer electronic products and communication applications.
“Precise Biometrics offers fingerprint software with industry leading performance,” said SY-Lin, director of Touch Business Unit at MStar. “The agreement with Precise Biometrics enables us to offer leading fingerprint solutions that provides convenient and secure verification of people´s identity on mobile devices. The addition of the fingerprint product will further enhance our position in the touch panel market with the common customer base.”
The license agreement will generate royalty revenue based on sales of fingerprint sensors from MStar that includes Precise BioMatch Mobile. Royalty revenues are volume dependent and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software, which will be recognized starting from the first quarter 2016.
“MStar is a prestigious company in the field of touch panel IC,” said Håkan Persson, CEO of Precise Biometrics. “We are looking forward to the collaboration with MStar, which further strengthens our local presence in Asia and our position as the leading supplier of fingerprint software.”
Precise Biometrics to hold AGM May 17
Precise Biometrics announced that its Annual General Meeting (AGM) will be held at 4.00 p.m. on Tuesday May 17, 2016 at Mobile Heights, Mobilvägen 10 in Lund, Sweden.
Shareholders wishing to attend the AGM must be recorded in the share register maintained by Euroclear Sweden AB, by Wednesday May 11, 2016, and notify the company of their intent to attend the AGM by postal mail or email no later than Wednesday May 11, 2016, before 4.00 p.m.
Full details for shareholders and an outline of the matters to be discussed at the AGM and proposals for resolution are available on the Precise Biometrics website.