License agreement with Oki results in revenue and a strategic alliance for Precise Biometrics
2006-07-06, Precise Biometrics AB (publ), that develops and sells world leading and user friendly biometric security solutions based on fingerprint and smart cards has entered into a business agreement with Oki Electric Industry Co. Ltd., a world leading Japanese supplier of silicon and optical products. In order to meet market demands on cost efficient fingerprint technology Oki is in the process of developing and producing a completely new product family in which Precise Biometrics’ technology will be included. The agreement means that Precise Biometrics will receive an initial payment and thereafter royalties per sold unit.
The Oki Group is a Japanese world leading company who provides products, technologies and solutions to its customers through its information and telecom system business, semiconductor business and printer business. The company was established in 1881, have a turnover of nearly SEK 42 billion and a profit of approximately SEK 313 million. The company is registered at the Tokyo Stock Exchange.
“We are very proud to present this business relationship with Oki, which is leading the market in its industry and has many large and prestigious companies on its customer list. This further strengthens our position as the leading company in the biometrics industry. Our new business agreement with Oki is in line with our increased focus on license revenue and strategic partnerships,” says Christer Bergman, CEO and President of Precise Biometrics.
“We are very happy to cooperate with Precise Biometrics and are convinced that this signify a further step towards the implementation of biometrics as a natural part of IT Security. This also confirms that Oki together with Precise Biometrics will become a leading supplier on the global biometrics market”, says Shinya Takahashi, VP of Silicon Solution Company of Oki.
Precise Biometrics AB (publ.) is an innovative security company that supplies world-leading systems for fingerprint and smart card-based authentication. The company’s solutions replace keys, PIN codes and passwords and enhance the integrity of ID cards and passports. With its proprietary Precise Match-on-Card(TM) technology, the company is a market leader within smart ID cards. Through its subsidiary Fyrplus Teknik, Precise Biometrics can deliver complete biometrics solutions on the Scandinavian market based, for example on fingerprint, iris and facial recognition. The product line includes systems for access control to buildings, computers and networks and for integration into ID cards and passports. The group headquarters are in Lund, Sweden. It also has subsidiaries in London and Washington, DC. The subsidiary Fyrplus Teknik is based in Karlstad and has regional offices in Linköping and the subsidiary Loqware is based in Gothenburg. Precise Biometrics is listed on the O-list of the Stockholm Stock Exchange (symbol: PREC A). For more information, please visit http://www.precisebiometrics.com/
- Contact Information
- Christer Bergman
- President & CEO
- Precise Biometrics AB
- Contact via E-mail
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