Oslo, March 10, 2021 NEXT Biometrics (Oslo Bors: NEXT), has signed a 5-year partnership agreement with a world market leader in the biometric space. The agreement covers FAP20 sensors, a market segment with large potential for NEXT.
-This a major breakthrough for NEXT. Our partner is a dominant player in the global biometric market, with EUR 20 billion euro in sales. The revenue potential from this partnership is considerable, says NEXT Biometrics CEO Peter Heuman.
The 5-year global agreement is primary focused on NEXT high profile FAP20 sensor. There are already several ongoing market projects in dialog under this partnership. The partner aims at designing NEXT fingerprint sensors into biometric fingerprint readers and other fingerprint enabled devices. NEXT’s new customer is a market leader in several regions of the world, and it is the perfect partner to establish NEXT Active Thermal technology as the preferred choice in the large area sensor market.
The FAP20 sensor global market alone is currently estimated to be valued at around 1.5 billion USD 2020.*
The disruptive NEXT FAP20 sensor competes mainly with existing FAP10/20/30 size sensors provided via incumbent technologies. The NEXT sensor is highly competitive on both cost and form-factor, and will enable NEXT’s partner to integrate the sensor into slim and smart, modern devices, both fixed and portable. Existing large sensors in the market have a challenge delivering the same slim form-factor.
The NEXT FAP20 sensor provides a high level of security, as proven by the FBI certification.
A perfect match for NEXT
“-The combination of NEXT technology and the marketing, sales and distribution power of our partner will certainly create shareholder value. The FAP20 market is large and growing, and offers more attractive margins than any of our other segments. We have a strong competitive advantage in this market.
We are very proud that a dominant biometric player has chosen our technology as the basis for some of their most promising fingerprint devices. This is an important step in taking NEXT towards a new level from both a business and technology perspective”, says Peter Heuman.
A conference call on this important milestone will be held Wednesday March 10 at 14.00 CET.
Participant access information:
Please join the conference call 5 minutes prior to the start time using the access information below.
Start Time: 14:00 CET
Duration: 60 minutes
NO: +47 23 16 23 28
SE: +46 853 527 819
UK: +44 20 3713 5012
US: +1 (951) 384-3421
Access Code: 907 391 340
About NEXT Biometrics FAP20 sensor:
NEXT’s FAP20 sensor (One Touch 2000) is certified by the FBI as tested and in compliance with the FBI’s Next Generation Identification (NGI) Image Quality Specifications (IQS). A review of the test data was conducted by the FBI’s Criminal Justice Information Services Division. For PIV listing information please visit the official FBI site at https://www.fbibiospecs.cjis.gov/Certifications/
About NEXT Biometrics:
NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets. The company’s patented NEXT Active Thermal™ principle allows the development of large, high quality fingerprint sensors in both rigid and flexible formats. NEXT Biometrics Group ASA (www.nextbiometrics.com) is headquartered in Oslo, with sales, support and development operations in Seattle, Taipei, Bengaluru and Shanghai.
*AMR Biometric Market Report FEB 2021.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.