Precise Biometrics enters agreement with Qualcomm for mobile solution
29 July 2016 14:21 GMT

Swedish fingerprint hardware and software firm Precise Biometrics has announced that it has entered into a commercial software license and distribution agreement with Qualcomm Technologies for the licensing of the Precise Biometrics algorithm solution for fingerprint recognition, PreciseBioMatch Mobile.

In a statement, Precise Biometrics noted that the agreement includes (i) a per unit license fee, as well as an annual fee,pertaining to the use of Precise BioMatch Mobile based on actual sales ofcertain fingerprint sensors utilizing said technology, and (ii) an annual feefor support and maintenance.

While the per unit license fee is volume dependent and cannot be forecasted by Precise at this point, Precise is currently projecting that some of the revenue generated under the agreement will be recognized starting from the third quarter of 2016.

"We are delighted to enter into this commercial software license and distribution agreement with Qualcomm Technologies, Inc., a leader in the mobile industry, which will help further strengthen our position as a leader in fingerprint software. We look forward to working together and supporting QUALCOMM Technologies with their fingerprint solutions", said Hakan Persson, CEOof Precise Biometrics.Precise BioMatch