Precise has on 23 December 2022 entered into a commercial licensing agreement with Isorg, a France-based leader in organic optical sensors, to provide a new fingerprint technology to the mobile industry. Under the initial agreement period until end of 2024, Precise will receive minimum approximately SEK 11 million in fixed license and support fees. In addition, Precise will receive future royalties based on the actual number of fingerprint sensors when they are sold and installed in mobile phones.
The new commercial agreement with Isorg is in line with Precise’s growth strategy within Algo to establish partnerships with new sensor vendors and utilizing the company’s expertise also for new sensor types.
“This partnership proves the strength of our fingerprint technology and how we are able to develop and optimize our algorithms to secure market-leading performance for the most technically advanced fingerprint sensors. Through the new partnership with Isorg, we are strengthening our go-to-market channels in line with our growth strategy for Algo, and further capitalizing on our strong position in the mobile market”, says Patrick Höijer, CEO of Precise.
The agreement will contribute with approximately SEK 600 thousand in revenues in the fourth quarter of 2022, and the remaining fixed license and support fees will be evenly distributed over the initial period until 31 December 2024.
Isorg is a pioneer in organic and printed electronics for large area photodetectors and image sensors. It offers a new generation of high-performance imagers with the capability for easy integration into systems with various shapes or form factors. Its flexible image sensors have application in consumer electronics, ID security and access control, IoT and medical devices. In 2020, it launched the first worldwide demonstrator of full-screen sized Fingerprint On Display (FOD) for smartphones. A year later, it received the first worldwide FBI certificate for an organic photodiode-based fingerprint module for security & ID market. Founded in 2010 and partnering with CEA-Liten, a leading French innovation center for new energy technologies and nanomaterials, Isorg has raised €58.2M (approx. $59M) in four financing rounds.
Patrick Höijer, CEO
Precise Biometrics AB (publ) (“Precise”) is a global supplier of identification software. The company offers products in various areas of application that enable users – using their own biometrics – to identify themselves in a convenient and secure way. Precise has two business areas; Digital Identity and Algo, and operates out of its offices in Lund, Sweden, Potsdam NY, USA and Shanghai, China. The Precise share is listed at Nasdaq Stockholm (PREC). For more information, please visit www.precisebiometrics.com
This information is information that Precise Biometrics is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-12-23 17:05 CET.
Precise enters into license agreement with Isorg to provide a new technology of fingerprint sensors to the mobile industry
© Modular Finance, source Nordic Press Releases