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© precise biometrics Business | January 31, 2017

Precise Biometrics extends licensing agreement with existing customer

Swedish Precise Biometrics has entered an extended software license and distribution agreement with an existing sensor customer that guarantees total license revenues of a minimum of SEK 17.5 million (EUR 1.85 million) during 2017 and 2018.
The extended licensing agreement – regards Precise BioMatch Mobile, Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices – includes a fee of SEK 17.5 million for a set number of licenses of Precise BioMatch Mobile over a two-year period and replaces the existing agreement during this period, which guaranteed revenues of SEK 1.5 million (about EUR 158’000) for the right to use the software.

“We are pleased to have entered this agreement that further strengthens the cooperation with our customer while securing substantial revenues over the coming two years. This agreement underlines the growth in the market and validates our position as the leading supplier of fingerprint software” said Håkan Persson, CEO of Precise Biometrics.

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March 25 2017 3:01 PM V8.0.2-2