© tombaky dreamstime.com
Business |
Precise Biometrics strikes licensing deal with Image Match Design
Swedish-based Precise Biometrics, has entered into a commercial software license and distribution agreement with Image Match Design Inc. for the licensing of the company's algorithm solutions for fingerprint recognition.
The agreement includes a per unit license fee, an annual licensing fee for the right to use Precise Biometrics algorithm solutions, and an annual fee for support and maintenance. While the per unit license fee is volume dependent and cannot be forecasted by Precise Biometrics at this point, the company is currently projecting that some of the revenue generated under the agreement will be recognised starting from the fourth quarter of 2016.
“We are pleased that Image Match Design Inc. has chosen our fingerprint software to provide the best user experience and security of their capacitive fingerprint solutions. The cooperation strengthens our position as the leader in fingerprint software”, said Håkan Persson, CEO of Precise Biometrics.
“We are glad to cooperate with Precise Biometrics to enrich iMD’s diverse product line and hope we can build up positive and strong partnership from now on”, said Colman Huang, CEO of Image Match Design.
