Biggest NEXT Shareholder Increases Stake

“Greenbridge’s share increase offers a vote of confidence in NEXT Biometrics as the latter seeks to establish itself as a pioneer in the emerging biometric payment cards market, an area in which numerous firms including Mastercard and Visa have been highly active in recent months.”

Greenbridge Investment Partners, the biggest shareholder in NEXT Biometrics, has increased its stake in the company. As Reuters reports, the investment firm made its move in a share issue first presented in March, bumping up its holdings from 16.72 percent to 18 percent.

The move would have come just after the publication of NEXT Biometrics’ Q4 and year-end report, in which the company announced that it had achieved its goal of reaching a positive gross margin in January, and said it anticipated a gross margin of 20 percent in February. And Greenbridge’s share increase came ahead of NEXT Biometrics’ announcement of structural changes designed to accommodate an expected growth phase; and ahead of its announcement in April that it had successfully tested its biometric payment card technology against an important ISO standard.

Greenbridge’s share increase offers a vote of confidence in NEXT Biometrics as the latter seeks to establish itself as a pioneer in the emerging biometric payment cards market, an area in which numerous firms including Mastercard and Visa have been highly active in recent months. For its part, NEXT Biometrics is aiming to start sampling its contact-based card modules this quarter, and to begin sampling contactless biometric payment card solutions in 2019.

Source: Reuters

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April 30, 2018 – by Alex Perala