The development license agreement initially targets sensors used to develop systems for door lock products for the Taiwanese and Chinese markets. The agreement aims to enhance security measures while providing a seamless and convenient experience for end-users. If the project is deemed successful, a commercial agreement is expected to be executed after the completion of the development period.

Patrick Höijer, CEO of Precise, comments:
“We are excited about this collaboration with RECO. The agreement is another important confirmation of the potential in our strategic plan of product diversification, beyond our strong position on the mobile phone market. Precise is experiencing growth in the door lock market, witnessing a rising number of locks equipped with fingerprint sensors being shipped. The integration of hardware and sensors within door locks poses demanding criteria for algorithms to ensure superior performance, an area where Precise has demonstrated expertise. We eagerly anticipate cooperating with RECO in their endeavors to develop and test the fingerprint sensors for the door lock market, with the goal of achieving commercialization during the year 2024.”

About RECO
Established in September 2019 in Taiwan, RECO provides a full range of bio-sensing system integration solutions. The company is specialized in the research and development of comprehensive fingerprint sensing technologies including: Optical fingerprint technology, capacitor fingerprint recognition, and ultrasonic fingerprint technology, along with providing the services of lamination and Surface Mounting Technology (SMT). RECO has two production sites based in Taichung and Chengdu. The Taichung site is located in the Houli District of the Central Taiwan Science Park. More than 15,000 square meters, the Taichung site is mainly for the R&D and module manufacturing. The Chengdu plant covers an area of 23,000 square meters and provides module manufacturing and the SMT services. For more information, visit www.reco-biotek.com.