Next announces new fingerprint sensor contract, partnership, volume order increase
A large fingerprint biometrics supply contract for Next Biometrics has grown into a five-year commercial agreement with an Indian OEM partner. The deal is now worth 65 million Norwegian kroner (approximately US$6.1 million), up from a previously-reported NOK 15 million, according to a company announcement.
Next said when the deal was originally unveiled that it would be worth between $1.4 million and $2.8 million (NOK 15 million to 30 million). The company now says that indicates that the minimum volume of biometric sensors is likely to be reached well before the end of the contract.
The Aadhaar L1 market is maturing, motivating the increased purchase order, according to Next. The OEM plans to upgrade the fingerprint sensors currently used by its large existing customer base to Next’s FAP20 sensors. The OEM partner will certify its products, and then commercially launch its devices.
Next has also announced a design win and initial purchase order from Chinese distribution partner XM Holder worth NOK 1 million ($93,000), to be completed in Q4, 2023.
XM Holder’s unnamed customer plans to use Next’s FAP20 biometric sensors in a point of sales terminal for taxis in Sub-Saharan Africa to implement so they can accept cashless payments.
As a recurring sensor order, the deal could be worth NOK 4.5 million ($420,000) in the future.
Finally, a new partnership has been formed between Next and GSA contract-holder EOD Gear to supply Next’s Active Thermal biometric products. EOD Gear supplies tactical gear, according to the announcement, and plans to supply the Oyster III and FAP20 sensors to government clients.
“Our partnership with Next Biometrics allows us to expand our offerings and provide the government with an innovative and effective security solution,” says Steve Cassidy, CEO of EOD Gear. “We are excited to work with Next Biometrics to bring their cutting-edge technology to government agencies, and we look forward to a long and successful partnership.”