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IDEX shuffles senior leadership team; considers Nasdaq or London Stock Exchange listing

 

IDEX Biometrics announced today it is considering a listing on the London Stock Exchange or on Nasdaq. IDEX currently trades on the Oslo Stock Exchange.

The Norwegian biometrics firm notes that it is considering the new market listing because with most of its operations based in the United States and UK it has become a truly international company and that a significant proportion of IDEX’s existing shareholders, and potential shareholders, are international.

IDEX also announced today changes to its technology leadership to better reflect and focus the technology development at the company.

Effective March 1, CTO Fred Benkley moves to a newly created role of Chief Innovation Officer to focus on strategic technology development and VP of Systems Engineering Anthony Eaton takes over as Chief Technology Officer. IDEX notes that Eaton’s move into this role “demonstrates the importance, and competitive advantage of a full systems approach in IDEX’s technical development.”

CFO Henrik Knudtzon will step down effective June 1 and transition into an advisory role. The company is in the process of hiring a new United States-based Chief Financial Officer.

“I’m very proud of the strength of the team we have at IDEX, and the changes will ensure that we are fully prepared for the next phase of our commercialization journey,” said Stan Swearingen, CEO of IDEX Biometrics. “I would especially like to thank Henrik for his valuable contributions to IDEX for almost five years.”

IDEX revenues were down significantly in its fourth quarter and preliminary full-year 2018 results from a year earlier, as the company transitions from primarily serving the smartphone market to a greater emphasis on cards and embedded products.

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