In an attempt to capitalize on the rapidly growing mobile fingerprint market and reach profitability in 2015, Precise Biometrics has announced that it will be focusing operations through increased market presence, efficient use of its partner network and the reduction of market expenses.
According to the company, to strengthen its position in the mobile fingerprint biometric landscape, Precise Biometrics will be focusing the expansion of its development, market presence and sales efforts mainly towards Asian mobile phone manufacturers.
Precise Biometrics CEO Håkan Persson says that the company will maintain a close dialogue with the major players in this area as it anticipates the expansion of fingerprint readers and mobile devices.
The company will specifically be focusing its partner network to increase Tactivo sales. Tactivo smart casing enables government agencies to benefit from the efficiencies inherent in introducing mobility into the workplace without having to worry about the major security risks involved with BYOD. Each Tactivo device is designed specifically for its associated tablet or smartphone model, and once paired, agencies have high-end mobile devices protected with FIPS 201 and LACS multifactor authentication.
In May of this year, Precise announced that Tactivo had been approved for Apple’s iPad mini.
“Our network, of carefully selected partners, enables wide and cost effective sales and distribution of Tactivo combined with concrete business solutions for end users,” says Persson. “We see a great need for Tactivo in the market and we will continue to expand the cooperation with our partners as well as develop our product offering in line with Apple’s roadmap.”
With the changes in focus, Precise Biometrics expects its operating expenses to decrease by an estimated SEK 15-17 million annually, with 2015 marking what it calls “full impact.”
The changes will be implemented in September, affecting consultants and employees. SEK 6 million worth of restructuring changes will happen. Related to these changes and the restructuring, CFO, Patrik Norberg, and the company’s Corporate Counsel, Anna Herdenberg, will be leaving Precise Biometrics.