Precise Biometrics Acquires Fyrplus Teknik18 January 2005
Precise Biometrics AB (publ), a market-leader in the development and marketing of user-friendly
fingerprint-based biometric security solutions, has acquired 100% of shares in
the Swedish IT consultancy Fyrplus Teknik AB. Through the acquisition, Precise
Biometrics strengthens its operations for biometric security solutions in a
time leading up to wide-ranging implementation of national ID cards and smart
travel documentation planned in several countries. Precise Biometrics will
gain access to sales revenues of about SEK 20 million (on an annual basis) and
will, after the acquisition, be nearly twice as large as a group, with 60
employees.
"Through the acquisition, Precise Biometrics supplements its core
operations within fingerprint technology and smart cards (Precise Match-on-
Card(TM)) with additional skills and knowledge within multi-biometrics and the
implementation of biometric solutions," says Christer Bergman, President & CEO
of Precise Biometrics AB.
Fyrplus Teknik has extensive experience in multi-biometric projects (i.e.
a combination of fingerprint, iris and facial recognition) from areas such as
the travel industry, the pharmaceuticals industry and the healthcare sector,
predominantly in Scandinavia.
"We have long worked in partnership with Precise Biometrics in various
projects, including SAS [Scandinavian Airline Services]. There is a great deal
of synergy between the companies which will now add value to the group, for
example in the development of biometric solutions and customer relations,"
says Lennart Olsson, President of Fyrplus Teknik AB.
The market for biometric solutions is developing rapidly and increasing
numbers of projects call for multi-biometric solutions. There are several
national projects on the table now, which involve a combination of multiple
biometric technologies. These include, for example, the new EU passport and
the national ID card in Finland.
"Through the acquisition of Fyrplus Teknik, we gain access to important
strategic competence within biometrics and further knowledge about the end-
users' demands on our technology. Together we will be able to offer a
complete range of multi-biometric system solutions on the Scandinavian market
and can take on a larger role in customer projects," says Christer Bergman,
President & CEO of Precise Biometrics AB.
The acquisition was completed on January 17, 2005 and is being financed
with cash. The purchase price totals SEK 5-7 million, partly conditional on
future profits. This entails a p/e index of 4.4-6.2 (based on profit after
financial net). Fyrplus Teknik had sales of SEK 26.8 million for 2003/2004 (16
months) and showed profits of SEK 1.5 million after financial items. Equity as
of 2005-01-17 amounted to SEK 0.6 million. Precise Biometrics' sales for the
first nine months of 2004 were SEK 22.6 million. Fyrplus Teknik will be a
wholly-owned subsidiary to Precise Biometrics. Lennart Olsson will remain
president of Fyrplus Teknik AB.
IN CONSEQUENCE OF THE ACQUISITION ANNOUNCED TODAY INVESTORS
AND JOURNALISTS ARE INVITED TO PARTICIPATE IN THE FOLLOWING
INFORMATION SESSIONS
Telephone conference in Swedish
* The conference commences at 11:00 am
* To participate, call +46 8 672 81 50
* Enter password: Precise Biometrics
An operator will record your name and provide access to the
conference. He or she will also give you information about how to
pose questions.
Telephone conference in English
* The conference commences at 12:00 noon
* To participate, call +46 8 672 81 51
* Enter password: Precise Biometrics
An operator will record your name and provide access to the
conference. He or she will also give you information about how to
pose questions.
Company representatives participating
* Lennart Olsson, President, Fyrplus Teknik AB
* Christer Bergman, President & CEO, Precise Biometrics AB
* Niklas Andersson, CFO, Precise Biometrics AB
* Ann-Sofi Hoijenstam, Corporate Communications Manager, Precise
Biometrics AB
For more information, please visit http://www.precisebiometrics.com
The website has the following information
* Power Point Presentation
* Facts sheet
* Press images
For further information, please contact
Christer Bergman, President & CEO, Precise Biometrics AB
Telephone: +46 730 35 67 26
E-mail: christer.bergman@precisebiometrics.com
Lennart Olsson, President, Fyrplus Teknik AB
Telephone: +46 730 39 10 04
E-mail: lennart.olsson@fyrplus.se
Precise Biometrics AB (publ.) is an innovative security company that
supplies world-leading systems for fingerprint and smart card-based
authentication. The company's solutions replace keys, PIN codes and passwords
and enhance the integrity of ID cards and passports. With its proprietary
Precise Match-on-Card(TM) technology, the company is a market leader within
smart ID cards. Through its subsidiary Fyrplus Teknik, Precise Biometrics can
deliver complete biometrics solutions on the Scandinavian market based, for
example, on fingerprint, iris and facial recognition. The product line
includes systems for access control to buildings, computers and networks and
for integration into ID cards and passports. The group headquarters are in
Lund, Sweden. It also has offices in Stockholm and a U.S. subsidiary in
Washington, DC. The subsidiary Fyrplus Teknik is based in Karlstad and has
regional offices in Linkoping. Precise Biometrics is listed on the O-list of
the Stockholm Stock Exchange (symbol: PREC A). For more information, please
visit http://www.precisebiometrics.com /
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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