Precise Biometrics enters licensing agreement with Samsung
Precise Biometrics has entered into a commercial software license and distribution agreement with Samsung’s System LSI Business division for the licensing of Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile.
The agreement includes a per unit license fee and an annual fee for support and maintenance. While the per unit license fee is volume dependent and cannot be forecasted by Precise Biometrics at this point, the fee for support and maintenance will be recognized starting from the fourth quarter of 2016.
“We are very pleased that Samsung Electronics Co., Ltd. has chosen our fingerprint software to provide the best user experience and security of their fingerprint solutions, as they enter the market for fingerprint sensors. The cooperation creates additional growth opportunities for us and strengthens our position as the leader in fingerprint software” said Håkan Persson, CEO of Precise Biometrics.
In related news, Precise also announced earlier this week that Precise BioMatch Mobile, Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, has through cooperation with Fingerprint Cards been integrated in the new Xiaomi Redmi 4, standard and enhanced versions.