Precise Biometrics and Fingerprint Cards in Merger to Forge Global Biometrics Leader

Precise Biometrics AB ( (SE:PREC) ) has shared an announcement.

Precise Biometrics and fellow Swedish biometrics specialist Fingerprint Cards have agreed a statutory merger of equals, with Precise Biometrics absorbing Fingerprint Cards and issuing nine new Precise shares for each Fingerprint share. The deal aims to create a global leader in biometrics and identity with broader product coverage, deeper customer relationships and a stronger financial profile, targeting at least SEK 45 million in annual cost synergies and a planned SEK 110 million rights issue to fund growth and further industry consolidation.

Executives from both companies said the combined group will benefit from greater scale, a more complete biometric security and identity offering and enhanced commercial reach across existing and new market segments. The merger is positioned as a response to a fragmented biometrics and identity management market, with the enlarged business expected to leverage upselling and cross-selling opportunities while providing a more resilient platform for customers, partners and shareholders as the identity and security market evolves.

The most recent analyst rating on (SE:PREC) stock is a Hold with a SEK2.00 price target. To see the full list of analyst forecasts on Precise Biometrics AB stock, see the SE:PREC Stock Forecast page.

More about Precise Biometrics AB

Precise Biometrics AB is a Swedish biometrics and identity solutions company focused on biometric security and identity management technologies. It develops and supplies systems used in authentication and access control, operating in a global market where scalable, integrated biometric solutions are increasingly demanded by enterprises and other customers.

YTD Price Performance: -13.76%

Average Trading Volume: 124,660

Technical Sentiment Signal: Sell

Current Market Cap: SEK153.8M

For a thorough assessment of PREC stock, go to TipRanks’ Stock Analysis page.