IDEX Biometrics Further Strengthens its Supply Chain by Partnering with MFLEX Oslo Stock Exchange:IDEX

IDEX Biometrics Further Strengthens its Supply Chain by Partnering with MFLEX Oslo Stock Exchange:IDEX

Oslo, Norway – 3 March 2021 – IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, has signed an agreement with Multi-Fineline Electronix, Inc. (MFLEX), a subsidiary of Suzhou Dongshan Precision Manufacturing Co., Ltd. (DSBJ), and a leading global provider of high-quality, technologically advanced flexible printed circuits and assemblies. The agreement forms a key part of IDEX’s mass production ready supply chain, essential to meet the growing demand for biometric payment cards.

Under the agreement, MFLEX will provide flexible printed circuit assemblies for IDEX’s biometric payment card reference design. This reference design is the only biometric smart card reference design that has been used in cards certified by China UnionPay. MFLEX has received an initial order from a Tier 1 card manufacturer. 

“Developing an end-to-end supply chain for biometric card manufacture is critical to accelerating the development of biometric cards by card producers,” said Reza Meshgin, CEO, MFLEX. “This allows card manufacturers to focus on their competences such as lamination, embedding, and personalization, and streamlines the card development and go-to-market processes.”   

“As we establish a supply chain that is mass-production ready, we are pleased to have signed this agreement with MFLEX, a global leader in its field. This agreement allows card manufacturers to have instant access to high-quality flexible printed circuit boards in the required large quantities,” said Vince Graziani, CEO, IDEX Biometrics.

For further information contact:

Marianne Bøe, Investor RelationsE-mail: marianne.boe@idexbiometrics.comTel: + 47 918 00186

Derek D’Antilio, Chief Financial OfficerE-mail: derek.dantilio@idexbiometrics.comTel: +1 978 273 1344

About MFLEX

Founded in 1984, MFLEX, a DSBJ company, is a global provider of high-quality, technologically advanced flexible printed circuits and assemblies. MFLEX provides a seamless, integrated end-to-end flexible printed circuit solution for customers, ranging from design and application engineering, prototyping and high-volume manufacturing to turnkey component assembly and testing.  MFLEX targets its solutions within the electronics market and focuses on applications where flexible printed circuits are the enabling technology in achieving a desired size, shape, weight or functionality of an electronic device.

For more information, visit www.mflex.com

About IDEX Biometrics

IDEX Biometrics ASA (OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint identification technologies offering simple, secure, and personal touch-free authentication for all.  We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast growing multi-billion-unit opportunity.

For more information, visit www.idexbiometrics.com and follow @IDEXBiometrics.

TRADEMARK STATEMENT

The wordmark ‘IDEX’ and the IDEX logo are registered trademarks of IDEX ASA. All other brands or product names are the property of their respective holders.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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