Precise Biometrics has secured a big new licensing deal that will bring the company revenues of at least 17.5 million SEK over the next couple of years.
In a statement announcing the deal, Precise Biometrics declined to name the client in question, but asserted that it’s an existing customer. The new licensing agreement replaces a 1.5 million SEK deal that was previously in place.
The licensing agreement concerns Precise BioMatch Mobile, Precise Biometrics’ flagship biometric algorithm software for the smartphone and tablet market. Commenting on the deal, Precise Biometrics CEO Håkan Persson said it “underlines the growth in the market and validates our position as the leading supplier of fingerprint software.”
Revenues emerging from the agreement could exceed the 17.5 million SEK minimum depending upon the client’s sales over the 2017-2018 period covered in the deal.
(Originally posted 01/30/2017 on FindBiometrics)