Fingerprint Cards AB (publ) enters into an exclusive partnership agreement with Egis Technology in the Mobile area
June 12 2024 - 5:00AM
Fingerprint Cards AB (publ) enters into an exclusive partnership
agreement with Egis Technology in the Mobile area
Fingerprint Cards AB (Fingerprints) today announced that it has
entered into an exclusive partnership agreement with Egis
Technology (“Egis”), one of the largest biometric sensor solution
providers in the world, covering patent & technology licensing
and conditional Mobile asset acquisitions, to enable Egis to start
to integrate Fingerprints’ Mobile product lines and technology with
Egis’ existing mobile platform. This transaction aligns with
Fingerprints’ aim to establish partnerships with sensor vendors,
facilitating monetization opportunities from the company’s
expertise and intangible asset portfolio. While this agreement will
not have a material financial impact for Fingerprints upfront, it
entails great future opportunities for Fingerprints to generate
additional revenue in the form of NRE and royalties for development
work. Furthermore, the partnership with Egis will enable a faster,
more efficient winding-down of Fingerprints’ Mobile business and
inventory depletion, as well as providing continued employment
opportunities for some of Fingerprints’ former Mobile-dedicated
staff at Egis.
For Egis, the agreement constitutes a major step in enhancing
its mobile technology and fingerprint recognition offerings by
leveraging Fingerprints’ know-how and leading intellectual
property. It will bring in additional technology, products, and
human resources to enable Egis to service Fingerprints’ existing
Mobile customer base, facilitating a smooth transition and
minimizing the business impact of Fingerprints’ decision to wind
down its Mobile business. In addition, the new technology, products
and human resources can also be utilized to service Egis’ existing
mobile customer base.
Steve Ro, Chairman of Egis, said: “We are thrilled with the
opportunity to incorporate the mobile fingerprint assets from a
reputable brand name such as Fingerprints. Since 2015,
Fingerprints’ sensors have been commercialized in billions of
mobile phones worldwide across every major mobile phone brand in
the world including Xiaomi, Vivo, Huawei, Honor, Oppo, and Google.
As we continuously strive to improve our collaboration across the
globe, this transaction will enable further growth of our mobile
business. The consolidated Egis-Fingerprints mobile platform will
offer an extremely compelling value proposition to all mobile
customers worldwide. Furthermore, it will allow Egis to realize the
economies of scale necessary to be even more competitive in this
market.”
Adam Philpott, CEO of Fingerprints, said: “We are very pleased
to establish this ongoing partnership with Egis, who will provide
continuity and support for our Mobile customers, whilst generating
revenue for the continued product value our world-class team
creates. This transaction is testament to the strength and value of
our technology and patent portfolio, which consists of over 700
registered patents, extending from algorithms and biometric image
processing through to sensors and hardware packaging technology. We
will continue to source and deliver meaningful monetization
opportunities as part of our Transformation Plan.”
For further information, please contact:Adam
Philpott, President & CEO
Investor Relations: +46(0)10-172 00 10,
investrel@fingerprints.comPress: +46(0)10-172 00
20, press@fingerprints.com
About Fingerprints Fingerprint Cards AB
(Fingerprints) – the world’s leading biometrics company, with its
roots in Sweden. We believe in a secure and seamless universe,
where you are the key to everything. Our solutions are found in
hundreds of millions of devices and applications, and are used
billions of times every day, providing safe and convenient
identification and authentication with a human touch. For more
information visit our website, read our blog, and follow us on
Twitter. Fingerprints is listed on Nasdaq Stockholm (FING B).
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