Precise Biometrics restructures to focus on Asian markets; closes office in Karlstad

Source: Precise Biometrics

Precise Biometrics plans to re-structure the organization to enable improved customer service and increased focus on solutions that unite various biometric modalities.

As part of this planned re-organization, the company will establish a new office in Shanghai during the first half of 2019 and intends to centralize operations in Sweden to the headquarter in Lund, closing the office in Karlstad

In line with Precise Biometrics’ ambition to develop world leading biometrics solutions, the company is planning for a re-organization of some of its operations. A centralization of the Swedish operations to the headquarter in Lund would enable increased operational efficiency and the headquarter will remain as the center for product development. The company will initiate trade union consultations with a view to decide on a close down of its operation in Karlstad and to streamline the operations in Lund. In total, approximately 15 employees and consultants are directly affected by the re-organization. The organizational setup for the Potsdam subsidiary remains unchanged.

The re-organization will, in accordance with the new strategy, enable the company to develop solutions with the objective to unite various biometrical modalities, providing authentication solutions to sectors such as finance, gaming, medical and security. It will also improve the company´s support capabilities of fingerprint solutions in Asia.

“This new proposed setup enables us to maintain our position as market leaders within biometric solutions. Centralising our R&D efforts to Lund will allow us to both develop biometric solutions that secure peoples identity, as well as to faster capture the opportunities in our current business”, said Stefan K Persson, CEO of Precise Biometrics.

As the Asian markets for biometrics is rapidly growing, Precise Biometrics simultaneously plans to establish an office in Shanghai to improve customer service and on-site support for customers in the Asian region.

“In order to achieve our objective to remain a leading provider of biometric solutions, we have identified the need to strengthen our local presence in the Asian market, where we see a growing demand. This ambition is well aligned with our overall strategy and focus going forward”, Stefan K Persson added.

The company does not expect the reorganization to entail any significant one-off costs. Following completion, the planned reorganization is expected to result in cost savings starting in 2019.

This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 9.00 CET on November 5, 2018.

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