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Biometrics stocks wrap: Idex, Precise, Egis, Next, Goodix, ImageWare, FPC and Ping Identity

Biometrics stocks wrap: Idex, Precise, Egis, Next, Goodix, ImageWare, FPC and Ping Identity

A fingerprint payment card featuring dual interface technology from Idex Biometrics has been certified by a global payment network, the company has announced. The card is the second from Idex’ Europe-based tier 1 payment card manufacturer partner certified for a major payment network.

Idex Biometrics announced certification for China UnionPay just weeks ago. The two networks represent 70 percent of the global brand general purpose payment card market, Idex says, and the certifications allow the cards to be transitioned from pilots to the commercial phrase. The total addressable biometric payment cards market is already 8.2 billion units, according to the announcement.

The biometric sensor, software and matching algorithm are supplied by Idex.

“This is another significant achievement for IDEX as it validates that our technology has passed the stringent certification requirements from multiple major global payment schemes,” comments Idex Biometrics CEO Vince Graziani. “Certified payment cards including IDEX’s technology are now available for commercial launches globally.”

Graziani spoke to Biometric Update about his role in re-commercializing the company after it changed direction under Stan Swearingen.

Precise Biometrics inks software license extension worth estimated $6M with Egis

Precise Biometrics has extended its license agreement with Egis Technology to provide its identification software for mobile devices for use with Egis fingerprint sensors.

The agreement will generate an estimated SEK 60 million (roughly US$6 million) from Egis for Precise. It follows the successful integration of Egis’ sensor and Precise Biometrics’ software for in-display implementations last year.

“We are pleased to extend our collaboration with Egis, which we see as a strong acknowledgement for our leading fingerprint software as well as our ability to business develop and support our customers. This agreement will be important to be able to scale up our products in the digital identity space for convenient and secure identification in other areas of applications,” says Precise Biometrics CEO Stefan K. Persson.

Precise Biometrics has also announced that its Annual General Meeting for 2020 will be held on May 15 at Mobile Heights, Mobilvägen 10 in Lund, Sweden. Participants and proceedings will be limited for public health protection, and those wishing to attend are asked to inform the company by May 11.

Chair and two other members to leave Next Biometrics board

The Board of Directors of Next Biometrics is going through some changes, with the Nomination Committee announcing that chairman Magnus Mandersson and board members Emanuel Lang and Brita Eilertsen will not stand for re-election following the company’s May AGM. Proposed board members will be presented by the Nomination Committee in the invitation to the AGM, which is planned for publication on April 21.

The change will leave Next Biometric’s largest shareholder Greenbridge Partners, which owns 17.3 percent as of April 6, with no board representation.

Goodix victimized by identity fraud

A former employee of Goodix has impersonated a current one with a forged identity to participate in investment exchange conferences and other public events in a way that may adversely affect the company and its shareholders, the company has acknowledged.

The individual has provided a written commitment to bear responsibility for and not repeat the actions, according to the notice. Goodix also denies any responsibility, saying a third-party organization mistakenly invited the individual in at least one of the cases.

ImageWare reports delay and CEO bonus structure

ImageWare Systems has filed an 8-K form with the U.S Securities and Exchange Commission (SEC) to inform shareholders that it has been unable to provide the financial records necessary for its Annual Report on Form 10-K for the 2019 fiscal year due to COVID-19 forcing employees to work remotely. The company plans to file its Annual Report no later than 45 days from its expected date of March 16, 2020.

Beyond that, no material impact from the pandemic has been felt by the company thus far.

In a separate 8-K filing, ImageWare reports the compensation of new President and CEO Kristin Taylor, including a stock option to purchase up to 1.75 million common stock shares in the company at par value of $0.01 per, vesting in three annual installments. The package also includes performance incentives up to 100 percent of her base salary based on four criteria relating to major partnerships, positive cash flow, reduced operating loss, and total sales, and an additional 500,000 stock option if all four objectives are met.

Motorola smartphone launched with FPC biometrics

Fingerprint Cards is supplying its FPC1520 to the Motorola G8 Power, which has now been launched bringing the biometrics company to 426 mobile devices with its technology integrated, according to a Tweet.

Ping Identity and Idemia announce Q1 earnings calls

Ping Identity will hold a conference call on its earnings for its first quarter of 2020, which ended March 31, on May 6. A replay will be available for a week after the call.

Idemia will present its results and hold its Q1 2020 call with President and CEO Yann Delabrière and CFO Laurent Lemaire on April 24.

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