Next Biometrics to supply FAP20 fingerprint sensor to mystery global market leader in new partnership
Next Biometrics has reached a five-year agreement with an unnamed “world market leader” in biometrics to provide FAP20 fingerprint sensors
The partner is a dominant market player, according to the announcement, with sales of €20 billion (roughly US$23.8 billion). FAP20 biometric sensors from Next Biometrics are the primary focus of the agreement.
Next’s new partner plans to integrate its FAP20 sensors into biometric fingerprint readers and other fingerprint-enabled devices. The two partners are in discussions on several ongoing market projects, and Next says that as a market leader in several regions, the integrator is well-positioned to raise the profile of the Active Thermal technology Next Biometrics specializes in within the large-area fingerprint sensor market.
“The combination of NEXT technology and the marketing, sales and distribution power of our partner will certainly create shareholder value. The FAP20 market is large and growing, and offers more attractive margins than any of our other segments. We have a strong competitive advantage in this market,” says Peter Heuman.
“We are very proud that a dominant biometric player has chosen our technology as the basis for some of their most promising fingerprint devices. This is an important step in taking NEXT towards a new level from both a business and technology perspective.”
Heuman says revenue potential from the deal is considerable.
Credence ID placed a follow-on order of Next’s FAP20 sensors in February.