The Swedish high tech company Precise Biometrics has entered a three year business agreement with its partner in Malaysia, Iris Corporation Bhd. Precise develops and sells world leading, user-friendly biometric security solutions based on fingerprints and smart cards.
Iris is a global smart card technology solution provider with core expertise in the area of electronic national ID cards and ICAO-compliant electronic passports. Concrete projects have already been initiated and the agreement entails a stronger relationship between the two companies. This new agreement is valued at SEK 3.5 million for Precise Biometrics.
In April 2005 did Precise win a national ID card project in Thailand which comprises technologies from Precise Biometrics as well as from Iris. In the newly announced agreement is Precise made a supplier of Iris range of high-end mobile and desktop smart card terminals.
The market for biometric ID solutions is growing fast as new regulations for safe and secure personal identification devices now are being introduced by several countries, for example the US. Thailand began to produce biometric passports in June 2005.
