Precise Biometrics Signs License Agreement with Shanghai OXi Technology Ltd

STOCKHOLM--()--Regulatory News:

Precise Biometrics (STO:PREC) has entered an agreement with Shanghai OXi Technology Ltd for licensing of Precise Biometrics’ product for fingerprint recognition, Precise BioMatch™ Mobile.

The license agreement will generate royalty revenue based on sales of fingerprint sensors from OXi that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software and for support & maintenance, which is recognized starting from the fourth quarter 2015. 

“The agreement with OXi strengthens our position as the leading independent supplier of fingerprint software for mobile devices. OXi is a Chinese vendor with a very innovative sensor technology”, says Håkan Persson, CEO of Precise Biometrics.

“We believe that the collaboration with Precise Biometric will enable us to provide a competitive solution for the biometric sensor market”, says Hong Zhu, CEO at OXi.

Precise BioMatch Mobile (http://precisebiometrics.com/fingerprint-technology/precise-biomatch-mobile/) provides easy integration of fingerprint matching functionality for smartphones and tablets, and is optimized for small touch sensors in mobile environments through a unique patented hybrid algorithm. The software offers fast, accurate, and secure verification of the user’s identity, creating a convenient user experience for consumers when unlocking their mobile device or authenticating to services, while delivering enhanced security.

This press release contains information that Precise Biometrics is required to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980). The information was submitted for publication at 11.00 am CET on December 17, 2015.

ABOUT PRECISE BIOMETRICS

Precise Biometrics is a market-leading provider of solutions that prove people's identities through smart cards and fingerprint recognition. The company´s products can be used for ID, enterprise and bank cards as well as access to mobile solutions, computers and networks. Precise Biometrics serves business and government organizations throughout the world and its products are licensed to close to 160 million users. For more information, please visit www.precisebiometrics.com

ABOUT OXI TECHNOLOGY

OXi technology is a biometric sensor company located in Shanghai, Zhangjiang hi-tech park. OXi provides biometric sensors and solutions based on its unique TFT Thin Optical Touch technology, which combines high performance image with competitive cost structure. OXi specializes in integrating IC design with glass technology. OXi products cover both mobile, industrial and government security market.

This information was brought to you by Cision http://news.cision.com

Contacts

Precise Biometrics AB
Håkan Persson, CEO
Telefon; +46 46 31 11 05
or +46 734 35 11 05
E-mail; hakan.persson@precisebiometrics.com

Contacts

Precise Biometrics AB
Håkan Persson, CEO
Telefon; +46 46 31 11 05
or +46 734 35 11 05
E-mail; hakan.persson@precisebiometrics.com