Precise Biometrics has another new hardware partner. The company has signed an agreement licensing its Precise BioMatch algorithm software to NXP Semiconductors.
It’s a licensing agreement that could see Precise Biometrics’ software integrated into a range of products, with NXP targeting a wide swath of the Internet of Things market with its embedded chip technologies. And with Qualcomm seeking to acquire the company, its market reach could be expanded even further.
The deal also should further help Precise Biometrics to round out its network of hardware partners, a business strategy aimed at preventing the company from suffering from any particular partner’s lower integration revenues in an increasingly competitive mobile biometrics market.
In a statement announcing the agreement, Precise Biometrics indicated that it entails “a per unit license fee, a fee for support and maintenance and a fee for non-recurring engineering efforts,” and suggested that it should start producing initial revenues this quarter.