IDEX Biometrics has entered into a definitive commercial agreement with Singapore-based ID Centric, formalizing an exclusive biometric sensor partnership after the companies mutually dropped a previously planned NOK 90 million equity investment.
The agreement supersedes the March term sheet and establishes the contractual framework for ID Centric’s use of IDEX fingerprint sensors and biometric technology in its biometric ID card offering. The terms include exclusive deployment of IDEX sensors across ID Centric’s biometric ID cards, cooperation on technology development, product strategy and go-to-market execution, and an initial binding purchase order worth USD 1.75 million. Sensor deliveries under that order were scheduled to begin in April 2026.
The commercial deal follows a late-April restructuring of the broader transaction. IDEX and ID Centric mutually agreed not to proceed with the NOK 90 million private placement originally planned as part of the March arrangement. Under that earlier structure, ID Centric would have acquired approximately 20 percent of IDEX’s outstanding shares, with an option to acquire an additional 5 percent stake if cumulative sensor purchases exceeded 10 million units by December 31, 2027. IDEX said at the time that its volume expectations for the commercial partnership remained unchanged despite the cancelled investment.
Following the cancellation, Michael Gardiner, who had served as ID Centric’s board nominee on the IDEX board, resigned with immediate effect. IDEX then launched an alternative private placement through accelerated bookbuilding. CEO Anders Storbråten and major shareholder Robert Keith each pre-committed NOK 10 million to the replacement offering. IDEX said recent market developments had strengthened demand for biometric authentication solutions and increased the commercial value of its products and sensor inventory.
The commercial agreement keeps the operating portion of the ID Centric relationship intact while separating it from the abandoned equity component. The binding purchase order and exclusive deployment rights are now tied to a finalized commercial contract rather than to an uncompleted investment structure.
IDEX has signed several agreements across card-based biometrics. The company recently secured Mastercard approval for fingerprint payment cards with Biosmart and an enterprise access control sensor order from DigAware, covering payments, access control and biometric identity cards.
Sources: Euronext
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By the ID Tech Editorial Team
