SOURCE: Precise Biometrics AB

November 12, 2007 03:07 ET

FINGERPRINT RECOGNITION BY PRECISE BIOMETRICS ON OKI ELECTRONIC CIRCUIT - COST-EFFICIENCY AN EVIDENT ADVANTAGE

LUND, SWEDEN--(Marketwire - November 12, 2007) -


A license agreement signed in July 2006 between Precise Biometrics AB and the Japanese electronics group Oki Electric Industry Co. Ltd has resulted in the development of an electronic circuit with an embedded biometric solution (ML67Q5250). The circuit was introduced by OKI on the world market in November, and there are great expectations that the solution will open up for completely new applications for fingerprint recognition. In terms of volume, OKI has planned for a production of about 200,000 circuits a month as of April 2008.

The unique feature of the circuit is that it integrates Precise Biometrics' core technology for identification, which means significant advantages for companies developing end products and solutions, such as payment terminals, door locks, satellite boxes, and PC peripherals such as keyboard. This means accessto an inexpensive one-chip solution for fingerprint recognition, which can be adapted to different applications. These companies thereby avoid expensive and time-consuming development work and can reach out to the market more quickly with new product generations where personal identification via fingerprint technology is becoming an important sales argument.

Oki Electric Industry Co. Ltd, with some 21,000 employees and annual sales of close to SEK 60 billion, is one of Japan's largest companies. The new electronic circuit has been developed in the subsidiary Silicon Solutions Company, whose president, Masahiko Morioka, also is very positive towards the market potential.

"The fact that we have succeeded in developing a circuit with a long series of advantages, also being very attractive in terms of costs, means that we have very great expectations for the future. The cooperation with Precise Biometrics also means that we can offer a complete solution which integrates the market's leading biometric technology for fingerprint identification, and I believe this will be of great importance when it comes to speeding up the development of new product generations in, for example, the consumer sector", concludes Masahiko Morioka.

Precise Biometrics' CEO, Thomas Marshall, is impressed by the advantages of the electronic circuit.

"It's fantastic that they have succeeded in integrating not only our core technology in to this small circuit, but also create a long series of advantages for end users.

For further information
Thomas Marschall, Resident and CEO, Precise Biometrics AB
Telephone +46 46 31 11 10 or +46 730 35 67 10
E-mail   thomas.marschall@precisebiometrics.com

Ann-Sofi Höijenstam, Director IR & Communications, Precise
Biometrics
AB
Telephone +46 46 31 11 47 or +46 734 35 11 47
E-mail  ann-sofi.hoijenstam@precisebiometrics.com

Precise Biometrics AB is an innovative company offering solutions for fingerprint recognition to prove people's identities. With top-of-the-line expertise in fingerprint verification, Precise Biometrics offers fast, accurate and secure authentication of a person. Our core product Precise BioMatch™ integrates into systems for access control to buildings, computers and networks as well as ID card programs, passports and secure chips. We act on a global market and our technology is deployed in large-scale projects all over the world. The Precise Biometrics group has subsidiaries in Sweden (with group headquarters in Lund), Great Britain, Hong Kong and USA, and a joint venture agreement in China. Precise Biometrics is listed on the small cap list at the Nordic Exchange in Sweden (symbol:PREC). For more information, please visit http://www.precisebiometrics.com/

Press release (PDF): http://hugin.info/131387/R/1167270/228903.pdf



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