Precise Biometrics Jumps After Apple Approval: Stockholm MoverAdam Ewing
Precise Biometrics AB, a Swedish fingerprint log-in technology provider, rose the most in more than a week after its mobile reader won approval for use on Apple Inc.’s latest iPad.
Precise Biometrics jumped as much as 15 percent to 1.73 kronor, the highest price since April 23, and was 12 percent higher at 1.69 kronor at 9:22 a.m. in Stockholm. The stock has more than doubled this year, valuing the Lund-based company at 530 million kronor ($81.3 million.)
The approval of its mobile smart card and fingerprint reader Tactivo by Apple allows government agencies and companies to keep a high level of authentication and security when employees access sensitive information, the company said in a statement today. Chief Executive Officer Thomas Marschall said Apple’s approval will help Tactivo’s global sales.
Precise Biometrics manufactures fingerprint security solutions for identity cards and credit cards that are only stored on the card and not in a data base. The company has said previously that demand for its products has grown after the Sept. 11 attacks, with nearly half of its annual sales coming from North America, according to data compiled by Bloomberg.