NEXT Biometrics Working on Huge Investment Deal

NEXT Biometrics Working on Huge Investment DealNorway-based NEXT Biometrics is working on a huge investment deal, and expects success. The company has attracted the interest of Greenbridge Partners, a major Swedish investment firm run by Melker Schorling and Ola Rollen.

According to Reuters, the two investors already have investment interests in related areas. Schorling’s own firm, Melker Schorling AB, owns shares in security firm Securitas, for example; while Rollen owns shares in sensor maker Fingerprint Cards. Greenbridge Partners’ interest in NEXT appears to be a logical extension of their previous investment strategy, and could offer major payoffs down the line.

In a press release, NEXT Biometrics CEO Tore Etholm-Idsøe summarized the significance of the investment, noting that Greenbridge’s management “has a deep knowledge of our industry and has undertaken a thorough process before making its investment decision.” In other words, its a powerful vote of a confidence from a serious investment firm.

It’s not hard to see why Greenbridge is excited about the company. NEXT Biometrics has been very busy lately in its business operations, having recently launched a new line of ultra-thin fingerprint sensors, and embarked upon a fruitful partnership with ‘techcessories’ developer iWallet. Its maneuverings evidently show promise in the eyes of Greenbridge Partners, which is looking to purchase two million shares for about $14.4 million USD. NEXT Biometrics has called an extraordinary meeting of its shareholders to seek approval for the purchase.

Source: Reuters


(Originally posted on FindBiometrics)