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Fingerprint Cards strikes 2 deals in transition away from mobile biometrics

Fingerprint Cards strikes 2 deals in transition away from mobile biometrics
 

Fingerprint Cards has formed a pair of partnerships as it transitions away from smartphones and tablets in favor of a greater focus on biometric smart cards, among other product lines.

A deal with Egis Technology, a provider of biometric sensors, to more quickly and efficiently wind down its mobile  biometrics business line. In its place, the collaboration will enable Egis Technology to leverage Fingerprint Cards’ portfolio of patents in the mobile biometrics market.

Egis will acquire specific mobile-related assets from Fingerprint Cards under defined conditions, according to the announcement, allowing it to integrate Fingerprint Cards’ mobile product lines into its current mobile platforms.

Fingerprint Cards has stated that while this partnership may not yield immediate financial gains, it will offer future revenue opportunities, including non-recurring engineering (NRE) fees and royalties from development work associated with the licensed biometric solutions.

“We are very pleased to establish this ongoing partnership with Egis, who will provide continuity and support for our mobile customers whilst generating revenue for the continued product value our world-class team creates,” says Adam Philpott, chief executive officer of Fingerprint Cards.

Following the recent interim report for January–March 2024, Fingerprint Cards announced that it will discontinue its unprofitable operations in the mobile division. As part of this move, some of Fingerprint Cards’ mobile business employees will transition to positions within Egis.

Steve Ro, chairman of Egis, highlights the widespread use of Fingerprint Cards’ biometric sensors in billions of mobile phones from brands such as Xiaomi, Vivo, Huawei, Honor, Oppo, and Google. He adds, “It will allow Egis to realize the economies of scale necessary to be even more competitive in this market.”

The financial terms of the deal were not disclosed.

In the first quarter of 2024, the company reported revenues of 146.4 million Swedish kronor (approximately US$13.4 million).

WiBioCard selects Fingerprint Cards’ biometrics for smart cards

WiBioCard, an Italian smart card integrator, has announced its decision to incorporate Fingerprint Cards’ biometric sensors into its smart card products to enhance security and functionality. This integration aims to support a wide range of applications for large-scale enterprises, enabling both physical and logical access control.

In addition to the biometric sensors, WiBioCard will also leverage Fingerprint Cards’ software and algorithms. The company states that the integration of Fingerprint Cards’ biometric solution will offer an enhanced user experience, eliminating the need for passwords and PINs.

“We provide a versatile biometric smart card with an all-in-one solution for government documents, web access, and services like iVoting while ensuring privacy compliance knowing that your identity and sensitive information are protected by biometric technology,” says Imad El Kurdi, chief executive officer and founder of WiBioCard.

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