*Update at 5.50PM: Fingerprint Cards AB issued a statement on its website stating that the press release was not sent from the company. A Samsung spokesperson told TechCrunch that the report is false.
Originally published at 5.16pm
Swedish firm Fingerprint Cards AB and Samsung Electronics today announced that they have entered into a definitive agreement under which Samsung will acquire Fingerprint Cards for $650 million in cash.
In the press statement released on its website, Fingerprint Cards AB states that it will become a new business division within Samsung and the acquisition will increase the accessibility of swipe sensor technology. Its CEO, Johan Carlström will assume the title of president of the Samsung Fingerprint Cards Division.
Fingerprint Cards AB - "Fingerprints Cards and Samsung share the vision of bringing products to our customers,” said Johan Carlström. “Together, we will be able to accelerate Samsung’s plans,” Johan Carlström said.
According to its website, Fingerprint Cards AB markets, develops and produces biometric components and technologies that through the analysis and matching of an individual’s unique fingerprint verify the person’s identity.
The company also states that the technology can be implemented in volume products such as smart cards and mobile phones, which hints that Samsung is also planning to add fingerprint sensors to its next generation of mobile devices.
This acquisition comes shortly after Apple introduced the iPhone 5S with a fingerprint sensor and rumors of HTC adding a fingerprint sensor on its upcoming One Max phablet.