These days Lund based company, Precise Biometrics, has some good news to tell. The company has signed a commercial software license and a distribution agreement with Samsung’s System LSI Business, a division within Samsung Electronics Co., Ltd, reports 8till5. The agreement entails the licensing of Precise Biometrics’ algorithm solution for fingerprint recognition in mobile devices, Precise BioMatch Mobile.

Precise BioMatch Mobile is the industry’s leading algorithm solution for convenient and secure fingerprint recognition in smartphones and tablets. Their unique algorithm solution is optimized for small fingerprint sensors and platforms with limited processing power and memory. Thus, Precise BioMatch Mobile offers fast, accurate, and secure verification of user’s identity.

According to CEO of Precise Biometrics, Håkan Persson, the collaboration with Sansung is a great opportunity for Precise Biometrics:

“We are very pleased that Samsung Electronics Co., Ltd. has chosen our fingerprint software to provide the best user experience and security of their fingerprint solutions, as they enter the market for fingerprint sensors. As a result, the cooperation creates additional growth opportunities for us and strengthens our position as the leader in fingerprint software”

Almost immediately, after the announcement of the agreement, Precise Biometrics’ shares rushed over 37 percent on the stock market.

Founded in 1997 in Lund Precise Biometrics is a pioneer in fingerprint technology. Today the company is a market-leading supplier of solutions for convenient and secure authentication of people’s identity. The main activity of the company is developing and selling fingerprint software and mobile smart card readers that provide security and best user experience to its customers all over the world.

Precise Biometrics is organized into two business areas Fingerprint Technology and Mobile Smart Card Solutions. Whithin a business area of Fingerprint Technology, the company develops fingerprint software for secure authentication of people’s identity in mobile phones and smart cards. While in the business area Mobile Smart Card Solutions the company sells smart card readers for smartphones and tablets. These smart cards enable convenient and secure mobility in organizations that require smart cards to log in to IT systems.

Nowadays, about 30 mobile phone manufacturers use Precise Biometrics’ fingerprint software. Among them such leading manufacturers as Google, Huawei, HTC, Lenovo, LG, Sony and ZTE.