Swedish fingerprint solutions company has revealed that it will acquire the business of spoof mitigation focused firm NexID Biometrics.PB has said it will to acquire the assets of NexID Biometrics for 32 million SEK in cash (US$3.4 million).In a statement, it said the acquisition will enable Precise Biometrics to rapidly expand its offering of fingerprint recognition software with liveness detection, increasing security and addressing customer demand for fraud mitigation.Precise Biometrics intends to finance the acquisition through a private placement of shares to be implemented as soon as possible.NexID Biometrics develops and licenses liveness detection software that enables more secure fingerprint authentication by mitigating spoof-related risks, such as fake fingers, significantly lowering the risk for fraud.PB says the acquisition will give Precise Biometrics access to liveness detection software that stems from over 10 years of research by world leading scientists on biometric spoof mitigation and liveness detection, exclusive rights to a portfolio of a combined 11 proprietary and university-licensed patents awarded or under review and a close working relationship with Clarkson University, one of the leading institutions in biometric research.”We have been monitoring NexID Biometrics for some time as they have a powerful software solution for liveness detection. By integrating NexID Biometrics software with our fingerprint matching technology we will add anti-spoof functionality to our offering, providing enhanced security that meets customer demand, addressing future security requirements and emerging standards for biometric authentication”, said Håkan Persson, CEO of Precise Biometrics. “In addition to its industry leading technology, NexID Biometrics will bring valuable competence to our organization and will become vital in our efforts to continue to innovate fingerprint software.””The combination of organizational resources and technologies will make for a strong contribution to the biometric authentication industry, including greater convenience and security for consumers making mobile payments with their smartphones”, said Dr. Stephanie Schuckers, NexID Biometrics CEO and Clarkson University faculty member.
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