“… it could also help [Fingerprint Cards] to expand beyond the mobile market in which it has attained a leading position.”
The deal was first announced at the start of February, when FPC announced it would pay SEK 938 million to acquire the iris recognition specialist. It arrived in the wake of comments from Christian Fredrikson, the company’s then-new CEO, suggesting that FPC’s management was considering acquisitions to help accelerate its growth; it could also help the company to expand beyond the mobile market in which it has attained a leading position.
But within that particular market, the acquisition may prove to give FPC a considerable competitive edge, with the mainstreaming of iris biometrics underway thanks to Samsung’s inclusion of the eye-based modality in its latest flagship smartphones. Given the prominence of the Samsung brand, and its intentions of making iris biometrics a primary means of user authentication going forward, this could lead many other mobile OEMs to emulate the multimodal approach.
The acquisition’s finalization comes immediately after that of Safran Identity & Security’s acquisition by Bpifrance and Oberthur Technologies majority stakeholder Advent International – another major industry event that may signal a growing M&A trend in digital identity and biometric authentication.