Precise Biometrics and MStar Enter License Agreement
FREMONT, CA: The market-leading provider of fingerprint recognition software, Precise Biometrics has entered an agreement with MStar for the licensing of its algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch™ Mobile. The license agreement aims to generate royalty revenue based-on sales of fingerprint sensors from MStar, a global leader in the supply of application-specific integrated circuits (ASIC) for the consumer and Image processing product markets. According to sources, the royalty revenue can’t be precisely forecasted at this point in time as it is volume dependent.
A limited initial fixed fee for the right to integrate and use of Precise Biometrics’ software has been included in the agreement and will be recognized from the first quarter of 2016. Precise BioMatch™ Mobile creates a convenient user experience while unlocking mobile devices or authenticating to services as it offers a precise, fast and secure verification of user’s identity.
“The agreement with Precise Biometrics enables us to offer a leading fingerprint solution that provides convenient and secure verification of people´s identity on mobile devices,” says SY-Lin, Director of Touch Business Unit at MStar. “The addition of the fingerprint product will further enhance our position in the touch panel market with the common customer base.”
"MStar is a prestigious company in the field of touch panel IC. The collaboration will help further strengthen our local presence in Asia and our position as the leading supplier of fingerprint software,” states Håkan Persson, CEO, Precise Biometrics.