NEXT Biometrics just made the below announcement. We went bullish on NEXT following the below SeekingAlpha article. We are long NEXT. As mentioned in the article, the share price could multiply from here.
The company is presenting today detail at 14:00. Longin details below
NEXT Biometrics signs 5-year partnership agreement with European Tech giant
Oslo, March 10, 2021 NEXT Biometrics (Oslo Bors: NEXT), has signed a 5-year partnership agreement with a world market leader in the biometric space. The agreement covers FAP20 sensors, a market segment with large potential for NEXT.
-This a major breakthrough for NEXT. Our partner is a dominant player in the global biometric market, with EUR 20 billion euro in sales. The revenue potential from this partnership is considerable, says NEXT Biometrics CEO Peter Heuman.
The 5-year global agreement is primary focused on NEXT high profile FAP20 sensor. There are already several ongoing market projects in dialog under this partnership. The partner aims at designing NEXT fingerprint sensors into biometric fingerprint readers and other fingerprint enabled devices. NEXT’s new customer is a market leader in several regions of the world, and it is the perfect partner to establish NEXT Active Thermal technology as the preferred choice in the large area sensor market.
The FAP20 sensor global market alone is currently estimated to be valued at around 1.5 billion USD 2020.*
The disruptive NEXT FAP20 sensor competes mainly with existing FAP10/20/30 size sensors provided via incumbent technologies. The NEXT sensor is highly competitive on both cost and form-factor, and will enable NEXT’s partner to integrate the sensor into slim and smart, modern devices, both fixed and portable. Existing large sensors in the market have a challenge delivering the same slim form-factor.
The NEXT FAP20 sensor provides a high level of security, as proven by the FBI certification.
A perfect match for NEXT
“-The combination of NEXT technology and the marketing, sales and distribution power of our partner will certainly create shareholder value. The FAP20 market is large and growing, and offers more attractive margins than any of our other segments. We have a strong competitive advantage in this market.
We are very proud that a dominant biometric player has chosen our technology as the basis for some of their most promising fingerprint devices. This is an important step in taking NEXT towards a new level from both a business and technology perspective”, says Peter Heuman.
A conference call on this important milestone will be held Wednesday March 10 at 14.00 CET.
Participant access information:
Please join the conference call 5 minutes prior to the start time using the access information below.