Precise Biometrics has sealed a new licensing deal with touch sensor developer Cypress, the company has announced.
The deal will see Precise Biometrics’ flagship Precise BioMatch Mobile and Precise BioMatch Embedded biometric software integrated into Cypress’ fingerprint sensors. Cypress will pay an undisclosed fixed fee in addition to royalties from sales of its sensors, which should generate revenues for Precise Biometrics starting in the third quarter of this year.
In a statement announcing the agreement, Cypress EVP Hassane El-Khoury suggested that the technology would find its way into new smartphones. “Fingerprint biometrics for user authentication on smartphones is becoming increasingly important as users expand the amount of personal and financial data stored on their devices,” he said, alluding to the rising popularity of mPayment platforms like Samsung Pay, Apple Pay, and Android Pay.
The partnership may reflect a growing focus on security on Cypress’ part; the company joined the FIDO Alliance earlier this year, shortly before the launch of its TrueTouch Fingerprint Reader developed in collaboration with IDEX ASA. Precise Biometrics, meanwhile, has proven to be a trusted provider of fingerprint biometrics software to numerous OEMs, especially in the Asian region.
October 20, 2015 – by Alex Perala