IDEX Enters into Commercial Agreement with Fortune 500 Company
Oslo, Norway, 23rd July 2015 – IDEX ASA (Oslo Børs: IDEX), a leader in high performance fingerprint sensor solutions has entered into a strategic partnership with an undisclosed global tier one company with significant presence in the mobile market.
The agreement enables scalable manufacturing and distribution of IDEX technology with the key objective to accelerate mass commercialisation of IDEX’s in-glass fingerprint sensor modules. The commercial agreement has resulted from a non-disclosed Joint Development Agreement that the parties entered into in 2014 and the identity of the company remains undisclosed for competitive reasons. This patented in-glass solution is unique to IDEX, leveraging our groundbreaking off chip fingerprint sensing technology. This will complement IDEX’s product portfolio providing the enhanced aesthetics, usability and security that mobile OEMs have been asking for.
“This partnership significantly strengthens IDEX distribution of fingerprint sensor modules to the mobile market. It will accelerate the market introduction of our key differentiating sensor technology enabling fingerprint sensing in the glass itself”, said Dr. Hemant Mardia, CEO of IDEX. “Sensing in glass is the ultimate solution for mobile OEMs especially for display integration. The durability and the look and feel are much better than conventional sensors, and with IDEX patented technology the biometric performance is also superior. IDEX is uniquely positioned to capture market share given our distinctive technology, which was demonstrated at the Mobile World congress earlier this year and has received strong interest from mobile OEMs.”
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Henrik Knudtzon CFO, +47 9302 2827, hk(at)idexbiometrics.com
IDEX ASA specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of 25 patent families including more than 215 granted patents, as well as cross licenses with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercialising the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets: Mobile as the core focus, ID & smart cards medium term and the Internet of Things in the future. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
IDEX ASA (ticker IDEX) is a Norwegian public company listed on the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.