Find Biometrics: IDEX Raises $25M USD Through Private Placement
30 January 2019
IDEX Biometrics has completed a $25 million USD private placement, the company has announced. The NOK 214 million deal entailed the sale of 53,437,500 shares to existing shareholders including Invesco, Woodford Investment Management, and members of the company’s management team and board of directors.
In a statement announcing the private placement, IDEX asserted that it “anticipates a significant ramp-up in sales driven by rapidly growing customer demand for both its contact-less and contact-based biometric card solutions.” The fingerprint biometrics specialist has focused intensely on this emerging market area over the past several months, and closed out 2018 with multiple announcements of partnerships with firms involved in the industry. It also settled on an official brand name for its fingerprint sensor solutions in December, dubbing the product line “SmartFinger”.