FB pixel

Chinese firm approached FPC for potential acquisition

 

A Chinese firm approached Fingerprint Cards (FPC) this summer about a potential acquisition that is likely to increase FPC’s current market value of SEK 33 billion (US$3.87 billion), according to a Betaville report that cites three sources familiar to the matter.

FPC held talks with the advisers of the Chinese firm, which is believed to be Beijing Watertek Information Technology, the sources said.

The Swedish fingerprint maker rejected the most recent offer from Beijing Watertek Information Technology as it was not high enough, one person close to the matter said.

It is unclear whether FPC will continue its talks with the Chinese firm. Meanwhile, Fingerprint Cards has yet to hire any advisers as the company is not actively looking for a buyout.

The sources appear to have varied opinions on FPC’s potential acquisition price, with one source stating that the Swedish firm could sell between SEK 140 and SEK 180 (US$16.42 and US$21.10) a share.

Meanwhile, another source said Beijing Watertek Information Technology would have to make a bid that was significantly more than SEK 180 (US$21.10) for FPC to accept the offer.

This is partly attributed to Scandanavian technology businesses being valued at much lower prices than Chinese technology companies.

The report stated that FPC spokesperson Malin Strandvall declined to comment, while Beijing Watertek Information Technology could not be reached for comment.

Previously reported, Fingerprint Cards AB CEO Christian Fredrikson said he is considering making acquisitions to help expand into new market segments such as sensor-equipped cards, access systems for buildings, smart-home technology, and cars.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Biometrics disrupting the future of movement, on and offline

Biometrics are disrupting different areas of life, from how people interact with governments for basic services to the esoteric world…

 

Alexa, sue Amazon: tech giant faces class action over voice recordings

Users of Amazon’s Alexa are clear to pursue a class action over allegedly illegal recordings of private conversations. In Seattle,…

 

Epic Games provides Yoti facial age estimation to Bluesky for UK users

Social media platform Bluesky has selected Epic Games’ software, including biometrics-based age estimation from Yoti, to ensure its compliance with…

 

RealSense targets robotics, 3D facial recognition security with $50M in hand

RealSense has cut the cord tying it to Intel Corp, where the 3D camera company was born, with $50 million…

 

Will Congress reaffirm US cyber threat sharing framework before it’s too late?

As the September 30 expiration date for the Cybersecurity Information Sharing Act of 2015 (CISA 2015) rapidly approaches, Congress faces…

 

World pauses German operations for Orb update amid regulatory faceoff

World is facing a potential cease-and-desist order in the Philippines, and has put its iris scanning stations on hold in…

Comments

13 Replies to “Chinese firm approached FPC for potential acquisition”

Leave a Reply

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

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events