Precise Biometrics Completes Fingerprint Cards Merger

Precise Biometrics has completed its statutory merger with Fingerprint Cards, bringing the two Swedish biometrics companies into a single business after the transaction was registered by the Swedish Companies Registration Office.

The registration gives the merger final legal effect. Fingerprint Cards’ assets and liabilities have transferred to Precise Biometrics, and the combined company will continue under the Precise Biometrics name with its registered office in Lund. All remaining conditions for completion have been satisfied.

The deal combines Fingerprint Cards’ sensor and biometric technology portfolio with Precise’s software, identity management and physical access-control businesses. The companies have framed the combination as a way to create a broader supplier across biometric security, access and identity rather than operating as two vendors with narrower product lines.

Precise issued 68,272,083 new ordinary shares as merger consideration, increasing its share capital by SEK 20,481,624.90. Fingerprint Cards shareholders recorded on the July 21 record date will receive nine ordinary Precise shares for each Fingerprint Cards share, regardless of share class. Distribution is expected around July 23, with no action required from eligible shareholders.

The ownership transition follows approvals from both companies’ shareholders. Those votes cleared a central condition of the transaction after the boards had adopted a joint merger plan in March. The shareholder approvals for the Precise-Fingerprint Cards merger also authorized governance changes that take effect with completion. Christian Lagerling and Adam Philpott have now joined the Precise board.

Operational integration is the next test. Precise has said the combined platform will span fingerprint, face, iris and palm technologies, along with access-control products and identity software. Management is seeking commercial and operational synergies from that mix, but the completion notice did not provide a new integration schedule or revise the financial targets disclosed earlier in the process.

The merger closes during a period of improving sales for Fingerprint Cards. The company recently reported 30 percent year-over-year revenue growth ahead of the merger, driven by stronger activity in access control and higher-value biometric applications. Those operations now sit within Precise.

Sources: Precise Biometrics

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By the ID Tech Editorial Team