Precise Biometrics Enters Licensing Agreement With MELFAS

Precise Biometrics has entered into a new licensing agreement with MELFAS, a Korea-based sensor maker, the company has announced.

Precise Biometrics Licenses Software to Korea-Based MELFASThe 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)