Precise Biometrics has entered into a new licensing agreement with MELFAS, a Korea-based sensor maker, the company has announced.
The deal will see Precise Biometrics’ Precise BioMatch Mobile algorithm software integrated into mobile devices via MELFAS sensors. That in turn will bring per-unit licensing fees to Precise Biometrics, along with an annual fee and a fee for maintenance and support.
News of the agreement comes soon after Precise Biometrics announced new licensing deals with Taiwan-based Zeitec and Netherlands-based NXP Semiconductors toward the end of last month. Establishing such agreements with new hardware partners is a key component of Precise Biometrics’ business strategy, outlined in the company’s year-end update for 2017.
Precise Biometrics says the MELFAS agreement should begin generating revenue for the company in Q2 of this year.
(Originally posted on FindBiometrics)