Oslo, 22 December 2023 - NEXT Biometrics (NEXT) has received a new volume order from a Singapore-based distributor, amounting to NOK 12 million, to deliver its flagship fingerprint sensor FAP20. NEXT will start its deliveries in Q4 2023 and expects to complete deliveries for this order by the end of Q1 2024.
In line with its strategy, NEXT continues to make progress in the rapidly evolving Indian biometrics market. Today, NEXT serves and supports several high-security business segments, such as the financial industry, law enforcement and top tier PC OEMs, with its fingerprint sensors based on its patented Active Thermal™ technology.
…
Vis børsmeldingen
The new volume order comes from a Singapore-based distributor. From Sensor provider to OEMs to distributors, the biometric value chain consists of many partners and processes. NEXT’s distributor acts as both an importer of fingerprint sensors, as well as a fulfillment partner, which secures improved availability of sensors in relevant regions.
Ulf Ritsvall, Chief Executive Officer at NEXT, comments the order:
“I am immensely proud of our team’s hard work and the business progress we are making in India. It is one of our key markets, and it is also one of the most competitive markets in the world. Yet again, with this order we have demonstrated the strength of NEXT’s technology, our expertise, and our ability to repeatedly gain our customer’s trust. Step by step, we are broadening and strengthening our imprint in India.”
As previously announced, the Indian government is upgrading India’s biometric and digital ID services program, Aadhaar, to the NEXT generation security standard. Thus, as per June 2024, all devices to be used within the ID program must now meet new, stricter security requirements and be certified according to Aadhaar’s so called “L1” certification level.
The generational changes in Aadhaar are an upgrade creating strong momentum for NEXT, as roughly 4.5 million L0 devices will need to be replaced by L1 certified devices.
Digvijay Singh Kanwar, Senior Vice President and Head of Sales India, US, Europe, and Africa, at NEXT, provides further insight into the current market demands:
“Security is undoubtedly a top priority in today’s business landscape; both for our very own customers and the Unique Identification Authority of India (UIDAI), which manages the Aadhaar program. Our sensors come with an attractive, so called “Liveness” feature, which has been proven to strongly prevent a number of different fake finger spoofing attacks. This is a much preferred and sought-after function, which contributes to drive the demand for NEXT’s technology.”
This information in this stock exchange announcement is considered to be inside information pursuant to the EU Market Abuse Regulation and is published in accordance with section 5-12 the Norwegian Securities Trading Act.
For more information, please contact:
Ulf Ritsvall, CEO at NEXT Biometrics
ulf.ritsvall@NEXTbiometrics.com
Eirik Underthun, CFO at NEXT Biometrics
eirik.underthun@NEXTbiometrics.com
About NEXT’s FAP 20 fingerprint sensor
• NEXT’s FAP20 fingerprint sensor is one of the company’s most sought-after, high-security, flagship sensors.
• It features a large 12x17mm active sensing area for fast, convenient fingerprint enrollment and authentication at low biometric errors.
• The sensor also comes in a version, which is intended exclusively for the Aadhaar market in India and certified in accordance with all the latest security requirements.
Learn more about NEXT’s patented technology at: Fingerprint Sensors - Next Biometrics
About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets. The company’s patented NEXT Active Thermal™ principle allows the development of large, high quality fingerprint sensors. NEXT Biometrics Group ASA is headquartered in Oslo, with sales, support and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.
This stock exchange announcement was published by Eirik Underthun, CFO at NEXT Biometrics Group ASA, on 21 December 2023, at 18:00 hours (CET).
Kilde
