Synaptics (SYNA) Weakens After Precise Biometrics Enters Agreement with Samsung's System LSI Business
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Weakness in Synaptics (NASDAQ: SYNA) Tuesday was tied to news Precise Biometrics entered into a commercial software license and distribution agreement with Samsung’s System LSI Business.
Precise Biometrics, a leader in fingerprint software, has entered into a commercial software license and distribution agreement with Samsung’s System LSI Business, a division within Samsung Electronics Co., Ltd., for the licensing of Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile.
The agreement includes a per unit license fee and an annual fee for support and maintenance. While the per unit license fee is volume dependent and cannot be forecasted by Precise Biometrics at this point, the fee for support and maintenance will be recognized starting from the fourth quarter of 2016.
“We are very pleased that Samsung Electronics Co., Ltd. has chosen our fingerprint software to provide the best user experience and security of their fingerprint solutions, as they enter the market for fingerprint sensors. The cooperation creates additional growth opportunities for us and strengthens our position as the leader in fingerprint software” said Håkan Persson, CEO of Precise Biometrics.
Precise BioMatch Mobile is the industry’s leading algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets. The unique and patented hybrid algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. Precise BioMatch Mobile offers fast, accurate, and secure verification of user’s identity, creating a convenient user experience when unlocking mobile devices or authenticating to services.
This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 13.00 CET on November 8, 2016.
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