Precise Biometrics
Precise Biometrics and Infineon Technologies sign agreement on joint product for the automotive industry
Precise Biometrics has signed an extended cooperation agreement with Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY), a global semiconductor leader in power systems and IoT. The agreement entails the creation of a jointly packaged product aimed at the automotive industry. This product, which integrates Precise's software into Infineon's fingerprint sensors, will have its own product ordering information and be included in Infineon's global product portfolio.
Infineon Technologies AG is a global semiconductor manufacturer with nearly 60,000 employees and revenues of approximately EUR 16.3 billion in the fiscal year 2023.
Previously, Precise Biometrics and Infineon Technologies established a collaboration in which Precise Biometrics became Infineon's only premium partner for biometric authentication solutions in the automotive industry. This new joint solution allows customers to choose a packaged option featuring Infineon's PSoC™ Fingerprint sensor combined with Precise's fingerprint algorithm software which is optimized for Infineon’s Traveo T2G MCU.
In 2024, Precise Biometrics, together with Infineon Technologies, has successfully demonstrated the solution at the Embedded World trade fair in Germany and at CES in the US. These demonstrations highlighted the use of fingerprints to unlock cars, adjust driver settings, and authenticate payments. In-car payments for premium services, digital content, entertainment, charging, parking, or tolls are areas where biometric fingerprint authentication provides a secure and user-friendly method of authorization, potentially becoming a standard feature in the future.
With this new agreement, Precise's software will be integrated from the start into a standard product that is packaged and fully tested, enabling it to reach the market faster and be delivered to end customers in the automotive industry.
Ralf Koedel, Vice President of Automotive Microcontroller at Infineon Technologies, comments:
"We are very pleased with our collaboration with Precise Biometrics. We see a growing demand for biometric solutions in the automotive industry and think Precise is an ideal partner to successfully reach the market. Precise has demonstrated significant expertise in biometric technology, and their products offer excellent performance."
Joakim Nydemark, CEO of Precise Biometrics, comments:
"It is truly exciting to take another step in our collaboration with Infineon and jointly create a packaged product that becomes part of Infineon's offering to the automotive industry. It is a testament to our strength that a leading hardware supplier like Infineon has chosen Precise Biometrics as its partner in this growing vertical. With Infineon's global sales organization, there is great potential to further accelerate growth for Precise in the automotive industry."
| Datum | 2024-09-27, kl 08:00 |
| Källa | MFN |
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