OSLO: IDEX Biometrics ASA has received its first production orders worth $6.0 million 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.
IDEX Biometrics is a leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all.
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”.
Edited by Kiran Khan