Precise Biometrics signs license agreement with FocalTech Systems

 

Precise Biometrics (STO:SEMC) has entered an agreement with FocalTech Systems Co Ltd for licensing of Precise Biometrics’ product for fingerprint recognition, Precise BioMatch™ Mobile.

The license agreement will generate royalty revenue based on sales of fingerprint sensors from FocalTech that includes Precise BioMatch Mobile. Royalty revenues are volume dependant and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software and for support & maintenance, which will be recognized starting from the fourth quarter 2015.

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