Precise Biometrics AB has entered an agreement with Gingy Technology Co. for licensing of Precise Biometrics' product for fingerprint recognition, Precise BioMatch Mobile. The license agreement will generate royalty revenue based on sales of fingerprint sensors from Gingytech that includes Precise BioMatch Mobile.
The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics' software and for support & maintenance, which will be recognized starting from the fourth quarter 2015.