Precise Biometrics AB Signs License Agreement With Elan
STOCKHOLM--(BUSINESS WIRE)--Regulatory News: Precise Biometrics (STO:PREC) has entered an agreement with Taiwanese sensor manufacturer ELAN Microelectronics Corporation for licensing of Precise Biometrics’ product for fingerprint recognition in mobile devices, Precise BioMatch™ Mobile.
The license agreement will generate royalty revenue based on sales of fingerprint sensors from ELAN that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement also includes a limited initial fixed fee for the right to integrate and use Precise BioMatch Mobile and for support & maintenance, which will be recognized starting from the third quarter 2015. ”The agreement with ELAN further strengthens our position as the leading supplier of software for fingerprint authentication for mobile devices. We welcome ELAN as a partner and appreciate the trust they put in us by selecting our products”, says Håkan Persson, CEO of Precise Biometrics.
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The license agreement will generate royalty revenue based on sales of fingerprint sensors from ELAN that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement also includes a limited initial fixed fee for the right to integrate and use Precise BioMatch Mobile and for support & maintenance, which will be recognized starting from the third quarter 2015. ”The agreement with ELAN further strengthens our position as the leading supplier of software for fingerprint authentication for mobile devices. We welcome ELAN as a partner and appreciate the trust they put in us by selecting our products”, says Håkan Persson, CEO of Precise Biometrics.
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