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Seeking to concentrate on fingerprints, Precise Biometrics reaches deal with IDENTOS on mobile smart card technology
Precise Biometrics has concluded an agreement with German IDENTOS GmbH on the takeover of the Mobile Smart Card Solutions business area, which includes the business operation involving smart card readers under the Tactivo™ brand. This entails Precise Biometrics further increasing its focus on the Fingerprint Technology business area and freeing up resources for the development and sales of fingerprint technology.
IDENTOS will take over all operations within the business area as of January 1, 2018, which includes the development of new smart card readers under the Tactivo brand, patents, trade mark rights, manufacturing, sales and customer support. IDENTOS will gradually be introduced to existing customers and partners during the second half of the year 2017. Personnel currently working in the Mobile Smart Card Solutions business area will be transferred to the Fingerprint Technology business area. As compensation for the divested business area, IDENTOS will pay Precise Biometrics commission on sales of Tactivo during the period 2018-2020. Precise Biometrics estimates that the commission will not have any significant impact on earnings.
“This is a good solution for Precise Biometrics that enables us to devote our full attention to developing our offering in the Fingerprint Technology business area. It is at the same time a good solution for our customers and partners, as IDENTOS will make the necessary investments in the new development of Tactivo products to support future mobile devices,” said Håkan Persson, CEO of Precise Biometrics.
“Identos has extensive experience with mobile card readers in the in the mobile e-health and Government security sectors and views this agreement as an outstanding opportunity to further develop Tactivo in combination with our expertise in the field of mobile encryption solutions. We’ll be working in close collaboration with Precise Biometrics to make the takeover of Tactivo as smooth as possible for existing customers and partners,” said Robert Schneider, CEO of IDENTOS.
The Mobile Smart Card Solutions business area will be reported separately as a divested business operation. Net sales for the business area Mobile Smart Card Solutions amounted to 13.9 Mkr for the full-year 2016. Net sales for the remaining business operations in 2017 are expected to be on par with comparable net sales for 2016, which totaled SEK 83.3 million. The company expects a positive net result for the remaining operations for the full year of 2017.
ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market leading supplier of solutions for convenient and secure authentication of people’s identity. We develop and sell fingerprint software and mobile smart card readers that provide the market’s best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit; http://precisebiometrics.com Follow us on LinkedIn and Twitter.
IDENTOS is an innovative security solution provider located in Germany, Canada, and the USA offering authentication and data security products focused on high assurance mobile applications. The company supports regulated and compliance based industries with critical security solutions that protect sensitive data on mobile devices. This includes authentication products for smartcard integration, as well as derived credential products that create a secure digital credential for use in mobile devices. IDENTOS also provides mobile data encryption (Encryption as a Service) and secure mobile messaging solutions to support privacy compliant solutions in banking, healthcare and government markets. For more information, please visit https://identos.com Follow us on LinkedIn and Twitter.