NewswireToday - /newswire/ -
Oslo, Norway, 2014/11/25 - IDEX ASA announced that it has entered into a partnership to provide its high performance fingerprint sensors, including swipe and touch sensors being used in personal identification security as part of the Open Innovation Platform offering at Flextronics. OSE: IDEX
IDEX ASA, (“IDEX”), a leader in the development and commercialization of high performance fingerprint sensors announced today that it has entered into a partnership to provide its high performance fingerprint sensors, including swipe and touch sensors being used in personal identification security as part of the Open Innovation Platform offering at Flextronics, an innovative supply chain solutions company that delivers design, engineering, manufacturing and logistics services to a range of industries.
According to a recent MarketsandMarkets research report, the global fingerprint sensors market is projected to exceed $14 Billion by 2020, growing at a high CAGR of 16.8% from 2014 to 2020.
“Flextronics recognizes the importance of Biometric authentication and fingerprint sensing as a security measure in today’s marketplace,” said Anita Ganti, vice president of global technology at Flextronics. “We see great value in partnering with IDEX to further expand our Open Innovation Platform and provide our valued customers with innovative technology solutions.”
“We are pleased to become the first fingerprint sensor provider to be added to the Open Innovation Platform at Flextronics. The Company has a strong track record of introducing innovative solutions to its customers and meeting increasing demands for rapid time to market for new technologies,” said Dr. Hemant Mardia, CEO of IDEX. “Given the high interest in fingerprint sensors in the marketplace, the timing of the partnership is ideal and we believe that IDEX will be able to further expand its customer distribution as a result of this partnership.”
IDEX ASA (idex.no) specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of more than 20 patent families including more than 200 granted patents, as well as cross licenses with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercializing the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centered on three core markets: Mobile, ID & Smart Cards and the Internet of Things. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.