Precise Biometrics enters into agreement with Qualcomm Technologies, Inc. for the licensing of Precise BioMatch Mobile
Precise Biometrics, a leader in fingerprint software, has entered into a commercial software license and distribution agreement with Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, for the licensing of Precise Biometrics’ algorithm solution for fingerprint recognition, Precise BioMatch Mobile.
This 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 of certain fingerprint sensors utilizing said technology, and (ii) an annual fee for 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 Håkan Persson, CEO of Precise Biometrics.
Precise BioMatch Mobile is the industry’s leading algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. Precise BioMatch Mobile offers fast, accurate, and secure verification of user’s identity, creating a convenient user experience when unlocking mobile devices or authenticating to services.