Idex reports volume biometric sensor order from DWA, plans Nasdaq listing
Idex Biometrics has received a volume production order for biometric fingerprint sensors, both its current generation and the next-generation TrustedBio biometric-system-on-chip, from Dongwoon Anatech (DWA), and also announced a plan listing to the Nasdaq.
The orders will supply the first part of DWA’s ramp-up in production of its low-cost smart ID cards.
South Korea-based global smart card integrator DWA partnered with Idex Biometrics nearly a year ago to supply biometric sensors as it worked on production with a third-party card manufacturer.
When TrustedBio was launched early this year, Idex CTO Anthony Eaton told Biometric Update that integrating processing, power management and other components has a massive impact on the overall biometric system.
“We are delighted to see DWA’s commitment to both our current and future generation of fingerprint sensors. This order adds to the momentum and growing opportunity within the smart ID market,” comments Vince Graziani, CEO of IDEX Biometrics. “We, and DWA, believe strongly that fingerprint biometrics will be integral to the future of digital identity.”
Idex has also announced that its Global Head of Sales and Marketing Art Stewart will deliver a presentation on “Biometric Smart Cards – Market Activation Now” during the 2020 ICMA Connect virtual event on November 4.
The company has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) to pursue a proposed listing of American Depository Shares, or ADSs, on the Nasdaq Stock Market.
The ADSs would represent ordinary shares in Idex Biometrics. No new primary issuance of securities is included in the proposal. Ordinary shares in Idex will continue to trade on the Oslo Børs.
The registration statement is subject to ongoing SEC review, and the proposed listing subject to Nasdaq’s approval.
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