Biometrics stocks wrap: Fingerprint Cards, Next Biometrics, SuperCom and LexisNexis
Fingerprint Cards has embarked on a share buyback program to adapt and improve the company’s capital structure to create additional shareholder value, acting on authorization for the repurchase resolved by the Board of Directors at its last annual general meeting on May 22, 2019.
The acquisition of FPC’s own shares will be made on the Nasdaq Stockholm exchange in accordance with the various rules of the exchange and EU and Safe Harbor regulations.
The purchase will be made in one or several rounds concluding May 25, 2020, at a price per share within the interval registered at the time, with payments made in cash.
The company’s holding of its own class B shares is not to exceed 10 percent of all outstanding shares, per the authorization at last year’s AGM, but the company does not currently own any, so it could buy back up to 31,396, 768 shares, according to the announcement.
Next Biometrics books follow-on order from Indian customer
Next Biometrics has received an order valued at $360,000 for its UIDAI and STQC-certified biometric fingerprint readers from a customer in India.
The order, which follows a larger purchase by the same company announced in January, includes a 20 percent upfront payment, and the readers have already been delivered.
The customer has now purchased $1.1 million worth of technology from Next during the first quarter of 2020, which will all be used in the “Navarathnalu” program of the Andhra Pradesh Government, which is intended to raise living standards in rural India. Fingerprint readers from Next will be used to verify the recipients of government services at their doorsteps.
“We are pleased that our work over the past months have resulted in that our customer has decided to pick up an additional quantity from Next Biometrics” said Peter Heuman, Next Biometrics CEO.
“The network of partners and distributors that we have built up is key for our continued success in government programs,” comments Next Biometrics Head of Sales for India Vishal Pandole. “We work closely with our partners through these projects to secure our sensor technologies are established in numerous real-life projects and use-cases in India.”
Next expects to receive additional orders from both new and existing customers in India, as demand is clearly increasing in early 2020, the company says.
SuperCom CEO doubles purchase program
SuperCom CEO and President Arie Trabelsi has notified the company that he will purchase up to 6 million of its ordinary shares on the open market under an increase in his purchase program from the 3 million announced last September.
The program does not require a minimum volume of purchased shares, and the timing of any purchases is at Trabelsi’s discretion, dependent on market conditions and regulatory requirements.
“I believe the SPCB current stock price levels do not reflect the high intrinsic value of the company. This program provides me the ability to opportunistically acquire SuperCom shares and underscores my ongoing belief in the Company,” Trabelsi says in a company announcement.
LexisNexis closes Emailage acquisition
On the heels of adding a behavioral biometrics layer to its solution portfolio, LexisNexis Risk Solutions has closed its acquisition of Emailage, which provides fraud prevention and risk scoring based on email intelligence.
Emailage’s fraud prevention technology analyzes email address metadata, a differentiated global contributory network and machine learning algorithms to assess risks for customers around the world. It will be leveraged to enhance the LexisNexis Digital Identity Network. The companies already have an established commercial partnership.
“This acquisition is a natural fit as LexisNexis Risk Solutions and Emailage are both committed to continuously evolving our solutions to combat fraud,” comments LexisNexis Risk Solutions Business Services CEO Rick Trainor. “This acquisition will enhance and expand our email data intelligence to provide our customers a more comprehensive view of risk with minimal friction for their customers.”
LexisNexis is part of RELX Group, which is traded on the London and New York Stock Exchanges.