Oslo, Norway, 3 February 2020: IDEX Biometrics ASA, a leading provider of
advanced fingerprint identification and authentication solutions, has received
its first production orders under an agreement entered into in 2019 to provide
fingerprint sensors to a leading global provider of financial services and news.
Following initial sample orders in the fourth quarter of 2019, IDEX has now
received the first production orders under this program with a minimum
commitment of USD 6 million.
Throughout 2019, IDEX worked with this customer to customize, test, and qualify
the IDEX solution for this high-security application. These first production
orders are expected to ship in the second quarter of 2020 and a regular flow of
orders is expected to result in monthly shipments as the IDEX-based solution
gets deployed to the customer's end users.
Stan Swearingen, CEO of IDEX comments: "Our solution has now been validated by a
major global customer with significant experience in the use of biometrics on
its products. This is the largest commitment in IDEX's history, and our team has
done a tremendous job meeting customer requirements and preparing for volume
shipments. We now expect a regular flow of purchase orders from this customer
and look forward to being an integral part of the rollout of their enhanced
biometric security solutions".
For further information contact:
Derek D'Antilio, Chief financial Officer
E-mail: derek.dantilio@idexbiometrics.com
(mailto:derek.dantilio@idexbiometrics.com)
Tel: +1 197 827 31344
Erling Svela, Vice President of Finance
E-mail: erling.svela@idexbiometrics.com (mailto:erling.svela@idexbiometrics.com)
Tel: +47 4062 1040
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of
fingerprint identification technologies offering simple, secure and personal
authentication for all. We help people make payments, prove their identity,
gain access to information, unlock devices or gain admittance to buildings with
the touch of a finger. We invent, engineer, and commercialize these secure, yet
incredibly user-friendly solutions. Our total addressable market represents a
fast growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com
(http://www.idexbiometrics.com) and follow on Twitter @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act