NEXT Biometrics (NEXT), and its long-term partner Access Computech Pvt. Ltd (ACPL) has signed a Memorandum of Understanding (MoU) to develop a new product jointly. The MoU also includes a commitment by ACPL to place purchase orders amounting to at least 35 MNOK over a period of 18 months.
The new product is an integrated module, targeting the growing government ID market and different national ID programs in Asia, South America and Africa. This new integrated module, targeted to be sold in government ID markets with a particular focus on countries in Asia and Africa, will be developed based on the Aadhaar and MOSIP national identity system requirements. As NEXT will be integrating additional functionalities into this new product, it will also have a higher ASP. The parties are targeting product launch and first delivery of the new product late 2025.
Digvijay Singh Kanwar, Senior Vice President and Head of Sales for India, US, EU, and Africa, at NEXT, expressed his enthusiasm: “By signing this MoU and developing the new product we get access to the world’s largest biometric markets. We are bringing first of its kind technology advancement in liveness detection in a slim form factor for the Authentication industry.”
Mr. Singh Kanwar further explains the estimated operational implications this strategic product development could bring.
“This accelerates our entry into new markets and enable NEXT to reach higher shipment volumes in late 2025 and beyond. As we also plan to sell this product to our other customers in India and world-wide, such sales will provide additional potential revenues. Hence, we believe this product alone could potentially provide NEXT with 35-90 MNOK in revenues per year, effective from 2026.”
Over the next quarters, NEXT will design and develop the hardware and software for the product that is to be marketed to OEMs and governments in Asia and Africa.
Ajay Sinha, Managing Director of ACPL, emphasized the strong trust and already existing product synergies between the parties: “For over a year now, we have been using and first-hand experienced the strong performance of NEXT´s flagship sensor FAP20 in our product across India. I am impressed by the liveness feature of it, which functions as a built-in anti-spoof procedure in the device.”
After signing of the MoU, its targeted to have a commercial agreement where ACPL will place an initial purchase order commitment of 35 MNOK, which is to be shipped 18 months following certification of the product. Certification will be done by ACPL, and the product will be sold world-wide.
For more information, please contact:
Ulf Ritsvall
Chief Executive Officer, NEXT
ulf.ritsvall@nextbiometrics.com
Eirik Underthun
Chief Financial Officer, NEXT
eirik.underthun@nextbiometrics.com
About NEXT Biometrics
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 in Oslo, with sales, support, and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.