Swedish fingerprint software and hardware solutions firm Precise Biometrics has confirmed that it has entered into a deal with Samsung for its mobile fingerprint authentication algorithm for Precise BioMatch Mobile.The commercial software license and distribution agreement is with Samsung's System LSI Business, a division within Samsung Electronics.In a statement, Precise said that 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 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. Following the announcement of the news, Precise Biometrics stock initially rose some 29%, but this paired back to 22% or 4.10 Sek per share as at 3.30 GMT.
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