Precise Biometrics share issue to strengthen pact with Japan's Silex

Source: Precise Biometrics

In order to meet a rapidly growing interest in the Japanese biometrics market, Precise Biometrics AB and silex technology, Inc. are developing the partnership further by means of a directed share issue valued at over SEK 7 million. The new issue is being implemented on the basis of the authorization obtained by the Board of Directors at the Annual General Meeting 2005.

Precise Biometrics has been cooperating with silex technology in the Japanese market for more than a year. silex technology develops and markets fingerprint readers and has also marketed Precise Match-on-Card(TM), thus giving Precise Biometrics a strong sales channel in Japan.

A further step is now being taken: the integration of Precise BioMatch(TM) with silex technology's application software, Silex SX-Biometrics Suite. With Precise BioMatch(TM) supporting Precise Match-on-Card(TM), fingerprints can be matched directly on smart cards rather than on an external server or PC. This protects the user's integrity, while offering a solution that is interoperable and fully scalable.

"We are pleased that silex technology and Precise Biometrics are deepening and strengthening our relationship" notes Takeshi Kono, President and CEO of silex technology, Inc. "We can offer the Japanese market a broader range of biometric solutions utilizing Precise Biometrics' proprietary technology, Precise Match-on-Card(TM). The integration of this technology with our own product - the SX-Biometrics Suite - will give us a very strong differentiated market position. Together with Precise Biometrics we offer biometric solutions that meet the highest security demands of the global market. Moreover, the cooperation enhances our position to meet the Japanese market's requirements for national ID cards and e-passports."

"Our objective to establish Precise Biometrics in the Japanese market and further strengthen our market position in biometrics and smart card technology has now been reached through our partnership with silex technology," says Christer Bergman, president and CEO of Precise Biometrics. "Our Precise Match-on-Card(TM) technology is rapidly becoming a de facto standard also in Japan", adds Christer Bergman.

Supported by the Annual General Meeting, the Board of Precise Biometrics has today, on the 23rd of June 2005, decided to utilize its authorization, in deviation from the shareholders preferential rights, to implement a new share issue directed towards its Japanese partner silex technology, Inc.

silex technology is acquiring 1,050,000 shares at a share price of SEK 7.04. The issue price is based on 30 days average share price. The new stock issue increases the total number of shares in Precise Biometrics from 60,915,450 to 61,965,450. The new shares correspond to 1.7 percent of the total number of shares after the new issue.

Comments: (0)