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Wednesday, 9 August 2017

IDEX receives initial order for card sensor modules from leading Asian smart card provider

IDEX ASA    

Published: 08:00 CEST 09-08-2017 /GlobeNewswire /Source: IDEX ASA / : IDEX /ISIN: NO0003070609

IDEX receives initial order for card sensor modules from leading Asian smart card provider

Oslo, Norway, 9 August 2017 - IDEX, a leading developer of advanced fingerprint solutions for mass markets, has received an initial order to deliver its off-chip fingerprint sensors for cards to a major Asian authentication and security card customer. The sensors will be integrated in the customer's biometric ISO form factor card for government identification and access control applications, and is expected to be delivered during the second half of 2017.

"The interest for biometric cards has increased significantly over the last quarters, and IDEX is experiencing strong customer demand for fingerprint sensors for card applications. The consistent feedback we are receiving is that it has been challenging to find sensor solutions that are ready for mass production in the market, and that IDEX has overcome this challenge", says Dr. Hemant Mardia, CEO of IDEX. "This customer is very knowledgeable in the smart card sector, and we are excited that they have chosen our solution. This customer is a high-volume producer with a strong global market footprint. The company is targeting multiple industries, including government, telecom, financial services and corporate customers. We expect to sample additional customers in the second half of 2017".

 

IDEX's off-chip technology uses a thin, flexible sensor made from a low-cost polymer. This allows it to be compliant with ISO standards for long-term durability and have a very competitive cost position, making it uniquely suited for use in biometric cards.

 

"IDEX has recently launched a lower power sensor for use in contactless cards, as well as a new proprietary ultra-compact matcher delivering excellent performance in user testing. Combined with our flexible off-chip fingerprint sensor, IDEX can offer a complete turn-key system solution for biometric cards. Given IDEX strong value proposition and truly differentiated product the company expect to be able to extract significant value from its card sensor products", Dr Mardia continues.

 

Contact:

Charlotte Knudsen, Director of IR and Communications, +47 9756 1959, ck@idex.no

Henrik Knudtzon, CFO, +47 9302 2827, hk@idex.no

 

Twitter: http://www.twitter.com/idexasa

 

About IDEX
IDEX develops and sells advanced fingerprint sensor technology and products. The company's technology is used in a range of biometrically enabled applications within three core markets: Smart cards, mobile, and Internet of Things (IoT). IDEX's addressable market represents a fast-growing multi-billion unit opportunity.

 

IDEX's technology includes both the conventional silicon sensor and a unique off-chip technology, which means that the company can offer its partners solutions which are flexible and cost efficient.

 

IDEX ASA (ticker IDEX) is a Norwegian company, founded in 1996 and listed on the Oslo stock exchange in 2010.

For more information, please visit www.idex.no
 
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.




This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: IDEX ASA, Martin Linges vei 25, Fornebu NO-1364, Norge
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