Precise Biometrics has finalized its acquisition of NexID Biometrics, the company has announced.
The deal was first unveiled in December, with Precise Biometrics announcing that it would acquire the liveness detection specialist for 32 million SEK. Only three full-time employees from NexID will join Precise Biometrics as a result of the acquisition, but much of its appeal to Precise Biometrics also lies in the company’s existing technological holdings, and in its connections to Clarkson University and the US Center for Identification Technology Research.
In a statement announcing the acquisition’s finalization as per government approvals, Precise Biometrics indicated that NexID experienced “a minor loss” in its 2016 year-end results, but nevertheless emphasized that the acquisition will allow the company “to expand its offering of fingerprint recognition software with industry leading liveness detection that provides competitive advantages” in “the booming market for fingerprint technology.”
The deal may reflect a larger M&A trend underway in the industry, with Precise Biometrics’ longtime hardware partner Fingerprint Cards having recently bought iris recognition specialist Delta ID, and with EyeVerify having been bought by Ant Financial, and also with Safran Identity & Security having been bought by Oberthur Technologies owner Advent International last year.
(Originally posted on FindBiometrics)