Oslo, February 2, 2022 – NEXT Biometrics (Oslo Bors: NEXT), has received an initial purchase order of USD 2.2 million for FAP20 fingerprint sensors. This order is based on a long-term partnership agreement with an OEM based in India.
NEXT Biometrics has signed a long-term FAP20 partnership agreement and received an initial purchase order of USD 2.2 million with an undisclosed Indian OEM. Ten percent of the sensors will be delivered within April 2022, the remaining units are to be delivered during second half 2022 and first half 2023 and is conditional on passing pre-certification tests set out by UIDAI as a part of India’s Aadhaar program, which are expected to start during quarter two in 2022.
The OEM has committed to certify their biometric products, incorporating NEXT FAP20 fingerprint sensors, as specified by UIDAI. Under this agreement, the OEM will also support other Indian OEMs certifying their NEXT FAP20 sensor enabled biometric devices in India.
“This Indian OEM is one of the fastest growing local authentication OEMs in the world’s largest biometric market. The agreement will vastly expand the Indian Aadhaar market for NEXT Biometrics. It also proves our competitive advantage in the very attractive market for large sensors like FAP20”, says Peter Heuman, CEO of NEXT Biometrics.
“With this agreement, NEXT accelerates execution of our updated Go-To-Market strategy for India. NEXT will continue to partner with strong partners such as this OEM. With their strong local presence and biometric expertise, sales of NEXT FAP20 fingerprint sensors have potential to increase our market share in a more cost effective way”, says Peter Heuman.
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.
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NEXT Investor contact:
Peter Heuman, firstname.lastname@example.org
Eirik Underthun, Eirik.email@example.com