Norwegian biometrics companyNEXT Biometrics , NEXT, has signed a five-year agreement withCommlink Infotech LLC (Commlink). The agreement becomes effective inMay 2024 and NEXT's deliveries are scheduled to begin in Q2 2024. The agreement covers deliveries of NEXT's flagship fingerprint sensor FAP20 for integration in Commlink's biometric reader, targeting the Bangladesh National ID program. The order is valued atNOK 95 million over 5 years. The biometric reader is used for biometric authentication within the banking application ofBangladesh (a part of its national ID program). Commlink will be NEXT's preferred partner inBangladesh . In line with its go-to-market strategy, NEXT continues to expand operations. Already a trusted and well-known technology partner on the Indian market, NEXT now continues to expand its geographical coverage to includeBangladesh . "We are incredibly pleased to confirm this agreement with NEXT. Securing our deliveries of NEXT's flagship fingerprint sensors will enable us to ensure our long-term operational reliability towards our partners in the ecosystem ofBangladesh's national ID infrastructure. Combined with their technical support and our close collaboration, it also allows us to further develop our business knowing that we are guided by a strong technology partner. I look forward to exploring this partnership together with NEXT", saidAmjad Khan , Managing Director and CEO at Commlink. The order proves NEXT´s expertise in thermal, fingerprints technology and its ability to provide a state-of-the-art and proven Liveness feature. This is a function which helps to identify fake authentication attempts and thus prevent biometric identity spoofing. "Commlink is one of the largest players on the market inBangladesh and I am extremely pleased we have been awarded this valuable, initial order. It is a testimonial of the added value and security that our thermal technology offers as the financial industry's need for safe and reliable authentication keeps increasing. We look forward to offering our products and services toBangladesh and I expect our in-depth industry expertise to benefit us in this new market", said Ulf Ritsvall, CEO, at NEXT. This information in this stock exchange announcement is considered to be inside information pursuant to the EU Market Abuse Regulation and is published in accordance with section 5-12 the Norwegian Securities Trading Act. For more information, please contact: Ulf Ritsvall, Chief Executive Officer ulf.ritsvall@nextbiometrics.comEirik Underthun , Chief Financial Officer eirik.underthun@nextbiometrics.com About NEXT NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the payment and fintech, government ID, access control and office and notebook markets. The company's patented NEXT Active Thermal ® principle allows the development of large, high-quality fingerprint sensors with superior security level.NEXT Biometrics Group ASA is headquartered inOslo , with sales, support, and development operations inSeattle ,Taipei ,Tokyo ,New Delhi andShanghai . Thisstock exchange announcement was published byEirik Underthun , CFO atNEXT Biometrics Group ASA , on6 May 2024 , at 13:50 hours (CEST).
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