Serial System Ltd (Serial System), a company listed on the Singapore Stock Exchange and headquartered in Singapore, has been appointed as parallel distributor for Greater China and Taiwan by Fingerprint Cards AB (FPC). In combination with the signed distribution agreement, Serial System has placed an initial order with FPC worth SEK 15.7 M.
Serial System, FPCs second distributor for the vast Chinese market, is well represented in Greater China and Taiwan with 28 and two sales and support offices, respectively, in first, second and third tier cities of China and Taiwan. With a compounded annual growth rate (CAGR) of 26% over five years, Serial System has 680 employees, including 410 in mainland China and an additional 60 in Taiwan. FPC’s products are an excellent supplement to Serial System’s current product range whose broad contact and diversified network of customers will provide FPC with new opportunities for both industrial applications and consumer electronics in Greater China and Taiwan. In addition to its extensive distribution channels and strengths, Serial System will offer technical support and development of customer-specific solutions, which will facilitate integration while reducing the lead time to complete solutions for end customers.
To be able to support the demand for FPC’s product and solutions in the vast Chinese market and to offer customers fast delivery time, Serial System has placed an initial order worth SEK 15.7 M for FPC’s FPC1011F area sensors. All of the sensors are to be delivered in June 2011.
Johan Carlström, CEO of FPC, says: “We are delighted to have Serial System as our new partner and parallel distributor for our most important market, China. Serial System is well renowned as a distributor and, in terms of growth, is outperforming the Asia Pacific semiconductor market by 17% with a CAGR (Compound Annual Growth Rate) of 26% over the past five years. We strongly believe that Serial System will complement our existing sales channels in China and will quickly generate new business opportunities for themselves and FPC.”
Derek Goh, Executive Chairman and Group CEO of Serial System, says: “We are very pleased to be appointed as a distributor of Fingerprint Cards. As Greater China and Taiwan jointly accounted for 64% of the Group’s revenue for 2010, we will continue to support, focus and invest in this region to grow the FPC business. With this partnership, we will be able to offer our customers a more complete range of products and innovations.”
Lawrence Ho, President of Serial System in Greater China, says,“I am delighted to add FPC to our list of distributorships. This is a testament to our strong brand name in the market. I look forward to a long and rewarding partnership with FPC and will work with all levels of staff in FPC to jointly grow our businesses.”
For further information, please contact: Fingerprint Cards AB (publ), Box 2412, SE-403 16 Gothenburg.
About Fingerprint Cards AB (FPC)
Fingerprint Cards AB (fingerprints.com) develops produces and markets biometric technology, which, through analysis and matching of an individual’s unique fingerprint, verifies the person’s identity. The technology consists of biometric sensors, processors, algorithms and modules that can be used separately or combined. The competitive advantages offered by 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 telephones, which impose extremely rigorous demands on these characteristics. FPC’s technology can also be used in such areas as IT, Internet security and access control. Fingerprint Cards AB is listed on Nasdaq OMX Stockholm (FING B) and has its head office in Gothenburg, Sweden.
About the Serial System Ltd
Serial System Ltd started operations in 1988 as a distributor of electronics components in Singapore. The Company was incorporated as a private limited entity in April 1992 and listed on SESDAQ in 1997. Serial System Ltd became a Singapore Exchange Securities Trading Limited (SGX-ST) mainboard listed company on July 10, 2000. The Group has a network of oversea offices, operations and representations in China, Hong Kong, South Korea, Taiwan, India, Malaysia, Thailand, Philippines, Indonesia and Vietnam.
Publication pursuant to Swedish legislation: Fingerprint Cards AB (publ) discloses this information pursuant to the Securities Market Act (2007:528) and the Financial Instruments Trading Act (1991:980).