Swedish Precise Biometrics to acquire the business of NexID Biometrics from US.

Precise Biometrics, a leader in fingerprint software, has entered into an agreement to acquire the assets of NexID Biometrics, a specialist in spoof mitigation and liveness detection solutions for the biometric authentication industry, for 32 million SEK in cash. ($3.5M)

The acquisition will enable Precise Biometrics to rapidly expand its offering of fingerprint recognition software with liveness detection, significantly increasing security and addressing customer demand for fraud mitigation. The acquisition will create further conditions for growth in the fast developing market for fingerprint technology.

Precise Biometrics intends to finance the acquisition through a private placement of shares to be implemented as soon as possible.

NexID Biometrics, based in Potsdam, New York State, USA, develops and licenses liveness detection software that enables more secure fingerprint authentication by mitigating spoof-related risks, such as fake fingers, significantly lowering the risk for fraud.

The acquisition will give Precise Biometrics access to liveness detection software that stems from over 10 years of research by world leading scientists on biometric spoof mitigation and liveness detection, exclusive rights to a portfolio of a combined 11 proprietary and university-licensed patents awarded or under review and a close working relationship with Clarkson University, one of the leading institutions in biometric research.