IDEX secures additional strategic investment from world-class electronics manufacturer World Wide Touch Technology
The board of IDEX ASA has resolved to issue 4.68 million shares at a price of NOK 5.04 per share in a private placement to World Wide Touch Technology (Holdings) Limited (“WWTT”). WWTT has subscribed for the shares, investing about NOK 23.6 million, equivalent to USD 4 million, in IDEX.
“We are very pleased to secure a further significant investment by World Wide Touch Technology in IDEX. This investment will enable IDEX to immediately accelerate its strategic plans following the recent acquisition of PicoField technology and staff. This investment by WWTT further underlines our strategic relationship with a leading industry player,” said Dr. Hemant Mardia, CEO of IDEX.
WWTT is a Hong Kong listed company, operating chiefly in Hong Kong and the People’s Republic of China and has approximately 2,400 employees. The company develops and manufactures a broad range of automation and high-tech products, modules and components, and operates a Biometric Security Platform (division).
Kelvin Wong, CEO of WWTT, said: “We are very pleased to enhance our investment in IDEX. We are very excited by today’s announcement of the intellectual property acquisition and employment of key staff from PicoField by IDEX. This supports our vision of explosive growth in biometrics and in particular our roadmap for fingerprint sensor solutions for the mass consumer market.”
The placement was made pursuant to an authorization to the board by the annual general meeting on 16 May 2013, to carry out private placements and share issues to suitable investors in order to raise additional capital for the company. The existing shareholders waived their preemptive right to subscribe for shares according to the Norwegian Public Limited Companies Act in the event of a share capital increase under the authorization.
Following this transaction, the share capital of IDEX ASA will amount to NOK 51,287,158.80, divided into 341,914,392 shares at NOK 0.15 par value per share, and there will be 28,469,653 incentive subscription rights outstanding.
23 September 2013
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Kristian Wiermyhr, VP strategy and sales, +47 41273360, kw(at)idexbiometrics.com
About IDEX ASA
IDEX ASA specialises in fingerprint imaging and recognition technology. IDEX’s vision is to ensure individuals a safe, secure, and user-friendly use of personal ID. IDEX has developed the award-winning SmartFinger® technology platform based on the Company’s core intellectual property, including the patented fingerprint imaging principle, sensing scheme and chip design. Combined with core software solutions for imaging and authentication, the SmartFinger technology enables on-device enrollment, template storage and verification within the very same module. SmartFinger solutions can be seamlessly integrated into a variety of embedded applications such as mobile phones, one-time password devices, Smartcards, payment and ID cards, payment terminals, access control devices and biometric security and login tokens.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Axess marketplace on the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at firstname.lastname@example.org
About World Wide Touch Technology (Holdings) Limited
World Wide Touch Technology (Holdings) Limited ( the “Company”) was incorporated in in the Cayman Islands as an exempted company with limited liability on 17 July 2009.
The Company and its subsidiaries (collectively the “Group”) are principally engaged in the trading of and provision of services to automation related equipment, and manufacturing of a range of high-technology products, including wireless charging devices, plasma light source products, cutting-edge fingerprint biometric devices, capacitive touch screen controllers and modules, high-speed communication products and automative related products.
Since July 2013, the Group has expanded its biometric service offerings and launched the world’s first biometric fingerprint privacy protection platform and devices – FingerQ and PrivacQ to strengthen the Group’s position as the leading provider in patented biometric security solutions.
With a vision to become a provider of “life technologies” to facilitate and improve the daily lives of the users, the Group strives to employ cutting-edge technologies in its products and implement strategic development plans in an effort to enlarge its market share and promoted the diversification of its product mix.
The Company has been listed on The Stock Exchange of Hong Kong Limited since 15 December 2010.
Web site: http://www.wwtt.hk