Precise Biometrics is going to buy NexID Biometrics in a deal valued at 32 million SEK.
New York-based NexID is known for its anti-spoofing liveness detection software, which could offer a powerful complement to Precise Biometrics’ fingerprint algorithm software. In a statement announcing the acquisition, Precise Biometrics said NexID’s technology is the product of a decade of R&D and 11 approved or pending patents.
The acquisition is also expected to connect Precise Biometrics to Clarkson University, which the company called “one of the leading institutions in biometric research.” NexID is a university member of the US Center for Identification Technology Research, with CEO Stephanie Schuckers being the organization’s current director; the acquisition will see her take on an advisory role with respect to Precise Biometrics.
Precise Biometrics’ Board of Directors is moving to resolve a private placement of shares to raise 50 million SEK to be used in part to finance the acquisition, with the deal expected to close in Q1 of next year. It’s the latest sign of increasing M&A activity in the biometrics industry, with Gemalto having just announced plans to acquire 3M’s identity management arm and Oberthur Technologies currently finalizing a deal to acquire Safran Identity & Security. The CEO of Fingerprint Cards, Precise Biometrics’ longtime hardware partner, has also stoked speculation with comments suggesting his company is considering potential acquisitions.
(Originally posted on FindBiometrics)