The deal is based on a per-unit licensing fee and annual fees based on sales of device utilizing Precise BioMatch Mobile, as well as maintenance and support services. Precise Biometrics predicts that the agreement should start generating revenues in Q3 of 2016.
While the lion’s share of Precise Biometrics’ Precise BioMatch Mobile licensing revenues have likely come from longtime sensor partners Fingerprint Cards, the company has lately sought to expand its roster of hardware partners, with Qualcomm being the latest addition.
For Qualcomm’s part, the company is no stranger to biometric technologies. Its own solution powers the biometric authentication system used in Tencent’s WeChat mPayment service.
Precise Biometrics is a fingerprint software provider. The company´s products can be used for ID, enterprise and bank cards as well as access to mobile solutions, computers and networks.
Qualcomm is a multinational semiconductor and telecommunications equipment company that designs and markets wireless telecommunications products and services.
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