Biometrics stocks news: AMS reaches Osram deal, RealNetworks, FPC, Google-Fitbit and OneConnect
AMS has emerged victorious from the bidding war over Osram, picking up 55 percent of the company’s shares with a €4.6 billion (US$5.1 billion) bid to create a combined light-source and sensor giant targeting the automated vehicle market, Reuters reports.
The companies have reached the necessary 55 percent acceptance rate, which was lowered from 62.5 percent in a previous attempt in August. The companies entered into intensive talks, and acceptances of an offer at €41 per share, the same price as the previous bid, can be booked until Monday, with an extended period through December 24.
AMS is said to have made major commitments regarding Osram employees and facilities, and has ruled out merger-related layoffs through 2022. A shareholder meeting is planned by the acquiring company for January, at which a €1.6 billion rights issue to partially fund the deal is expected to be approved. AMS expects the transaction to close in the first half of 2020.
The combined sensor and light-source component giant could influence other markets beyond cars, as AMS already supplies Apple with facial recognition components and launched a integrated circuit for under-display 3D facial recognition earlier this year, while Osram told Biometric Update in October that its miniature infrared LED products can bring biometric security to small devices, such as wearables.
RealNetworks adds Board members
Two new members have been appointed to the Board of Directors of RealNetworks as the company looks to accelerate its global growth, including for its SAFR facial biometric offerings.
Asana CFO Tim Wan, who has also previously served as the CFO of RealNetworks, and Erik Prusch, who has served as CEO of several companies, are the new board appointees. Companies helmed by Prusch include Harland Clarke Holdings Corp, Outerwall Inc (formerly Coinstar Inc.), and NetMotion.
“I’ve been impressed with Real’s compelling long-term growth prospects and its promising early results with its SAFR facial and object recognition platform,” says Prusch. “I look forward to joining the RealNetworks Board and helping Real continue to move forward.”
With the new appointments, there are now eight members on RealNetworks’ board.
Fingerprint Cards side-mounted sensor implemented in smartphone
The new FPC1540 slim side-mounted biometric sensor from Fingerprint Cards has been integrated into the power button of the Xaiomi Redmi K30.
The FPC1540 was launched last month, and the Redmi K30 is the first smartphone to implement it, according to the announcement.
“As an early pioneer of side-mounted fingerprint sensors, we’re excited to see our industry-leading technology featured in this launch and to enable innovation and differentiation. Yet again we’ve been chosen by Xiaomi and continue our strong and long-term relation with one of the industry’s top five players,” says Fingerprint Cards Business Line Mobile SVP Ted Hansson.
The company notes that side-mounting the fingerprint sensor supports borderless and foldable smartphone designs.
Google Fitbit deal under review
The Center for Digital Democracy, Public Citizen, and other groups have urged regulators to block the deal on grounds it puts too much sensitive personal data in the databases of one company. The report notes that the DOJ and FTC are both concerned about the proposed deal, and that the DOJ is already investigating Google over possible anticompetitive practices.
OneConnect wins global marketing award
Efforts by OneConnect to extend its footprint internationally have been recognized with the “Kotler New Marketing Year Successful Overseas Marketing Award” at the 2019 Kotler Future Marketing Summit in Beijing.
Highlights among the company’s recent global marketing efforts include opening its Singapore office in November 2018 to lead regional expansion, launching its Indonesian office in February 2019, and then signing its first deals with leading financial institutions in Malaysia, Indonesia, Thailand, Cambodia, the Philippines, Japan and Abu Dhabi.
“Over the past one year or so, OneConnect has built an impressive footprint with customers in 10 countries outside of China,” comments OneConnect Financial Technology CEO Tan Bin Ru. “More Asian banks are looking to strengthen their technological capabilities to serve the millennials and the unbanked and underserved segments. We are making an impact in enabling banks and insurers in their transformation journey.”
OneConnect is facing a down round in its IPO, perhaps due to the changes in global market conditions since its last funding round in early 2018.