Precise Biometrics Soars on License Contract: Stockholm Mover
Precise Biometrics AB (PREC), a Swedish maker of fingerprint log-in technology, rose to its highest in almost two months in Stockholm trading after signing a contract with sensor provider Fingerprint Cards AB. (FINGB)
The shares jumped as much as 18 percent to 3.14 kronor, the highest intraday price since June 24, and rose 15 percent to 3.06 kronor at 10:37 a.m. local time. The stock has more than quadrupled this year, valuing the Lund, Sweden-based company at 992 million kronor ($151 million). Trading volume was more than twice the three-month daily average.
Biometric-company stocks have jumped in the past year on expectations Apple Inc. (AAPL) will unveil a new iPhone next month that includes a fingerprint reader, a prediction bolstered by Apple’s $350 million purchase of fingerprint-sensor maker AuthenTec Inc. last year. Competitors to the Cupertino, California-based company are looking for alternatives to match the maker of iPhones, Precise Biometrics’s Chief Executive Officer Thomas Marschall has said.
Precise Biometrics’s fingerprint software will be included in Fingerprint Cards’s sensor products, targeting smartphones and tablets, the company said in a statement today.
To contact the reporter on this story: Adam Ewing in Stockholm at email@example.com
To contact the editor responsible for this story: Kenneth Wong at firstname.lastname@example.org