Samsung Electronics to acquire Fingerprint Cards AB
GOTHENBURG, Sweden--(BUSINESS WIRE)--
Fingerprint Cards AB and Samsung Electronics today announced that they have entered into a definitive agreement under which Samsung will acquire Fingerprint Cards, the leading fingerprint verification company, for $650 million in cash. The agreement has been approved by the boards of directors of both Fingerprint Cards and Samsung. The acquisition will increase the accessibility of swipe sensor technology. The combination will extend Fingerprint Cards world class technology.
Swipe sensor technology is phenomenal in every way and are going to be loved by millions of people around the world," said Samsung CEO Kwon Oh-hyun. "Together we will create the future.
Fingerprint Cards will become a new business division within Samsung, and Fingerprint Cards CEO Johan Carlström will assume the title of president of the Samsung Fingerprint Cards Division, reporting directly to Kwon Oh-hyun.
Fingerprints Cards and Samsung share the vision of bringing products to our customers," said Johan Carlström. "Together, we will be able to accelerate Samsung's plans," Johan Carlström said.
About Fingerprint Cards AB (publ)
Fingerprint Cards AB (FPC) markets, develops and produces biometric components and technologies that through the analysis and matching of an individual's unique fingerprint verify the person's identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or in combination with each other. The competitive advantages offered by the FPC's technology include unique image quality, extreme robustness, low power consumption and complete biometric systems. With these advantages and the ability to achieve extremely low manufacturing costs, the technology can be implemented in volume products such as smart cards and mobile phones, where extremely rigorous demands are placed on such characteristics. The company's technology can also be used in IT and Internet security, access control, etc.
Fingerprint Cards AB (publ) discloses this information pursuant to the Swedish Securities Market Act (2007:528) and the Swedish Financial Instruments Trading Act (1991:980). The information was issued for publication on October 11, 2013 at 10.00 CET.
Important information Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the constituent information in accordance with the rules and regulations prevailing in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any of the company's securities in any jurisdiction.
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