IDEX Gets Production Orders for Multimillion Dollar Deal

“This is the largest commitment in IDEX’s history, and our team has done a tremendous job meeting customer requirements and preparing for volume shipments.” – Stan Swearingen, CEO, IDEX Biometrics

IDEX Biometrics has received its first production orders pertaining to a major agreement established last year, the company has announced.

The name of the customer has not been disclosed, but IDEX has indicated that it is a provider of financial services and news. IDEX says it worked with this client to customize and test its technology for a “high-security application,” with initial sample orders of its biometric technology having been placed in the fourth quarter of 2019.

Now, IDEX has received production orders with a minimum commitment of $6 million. The orders are expected to ship in the second quarter of 2020.

In a statement announcing the orders, IDEX CEO Stan Swearingen noted that the customer in question has “significant experience in the use of biometrics on its products,” and emphasized the size of the deal.

“This is the largest commitment in IDEX’s history, and our team has done a tremendous job meeting customer requirements and preparing for volume shipments,” he said. “We now expect a regular flow of purchase orders from this customer and look forward to being an integral part of the rollout of their enhanced biometric security solutions.”

News of the order comes just a week after IDEX’s announcement of new patents pertaining to its enrollment technology for biometric smart cards and payment cards.

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February 3, 2020 – by Alex Perala