IDEX Biometrics secures NOK 90 million in private placement and exclusive technology partnership with Leading APAC Biometric ID Solutions Provider
Summary by AI BETAClose X
The partnership includes an initial investment as well as initial purchase order valued at USD 1.75 million, exclusive technology agreement, and a performance-linked option for up to 5% of IDEX share capital
TRANSACTION HIGHLIGHTS
- ID Centric to subscribe for shares representing approx. 20 % of the outstanding shares in IDEX Biometrics ASA post-investment for approx. NOK 90 million via a directed private placement, at an agreed subscription price of NOK 5.83
- ID Centric committing to exclusive use of IDEX sensors and technology across its biometric ID card offering
- Initial purchase order valued at USD 1.75 million placed at signing, with deliveries commencing April 2026
- ID Centric is actively engaged in securing national ID and biometric identity programs across several Asia-Pacific markets
- ID Centric to be appointed as authorized reseller of IDEX Access Cards and Payment Cards across its markets
- Option being granted to ID Centric to subscribe for newly issued shares representing additional 5 % of IDEX share capital upon on sensor purchases exceeding 10 million units by 31 December 2027
- Comprehensive cooperation across technology development, product strategy, and go-to-market execution
OSLO, NORWAY — PRIVATE PLACEMENT AND EXCLUSIVE PARTNERSHIP
IDEX Biometrics today announces a private placement as well as a signed Term Sheet for partnership agreement with ID Centric, a leading provider of biometric identity solutions with secured national ID contracts across several markets in the Asia-Pacific region. First binding purchase order of USD 1.75 million submitted at signing of Term Sheet 5 March 2026.
As part of the Term Sheet, ID Centric has made a firm commitment to invest approximately NOK 90 million in IDEX through a private placement, acquiring a 20 % equity stake in the company. The subscription price has been negotiated based on a 30-day volume weighted average price (VWAP) of the IDEX share on the Oslo Stock Exchange as of 2 March 2026. In connection with the investment, ID Centric simultaneously places an initial binding purchase order for IDEX biometric sensors valued at USD 1.75 million, with deliveries scheduled to commence in April 2026.
Strategic Rationale
The partnership marks a significant expansion of IDEX's addressable market into national and government-issued biometric identity cards — a large and fast-growing segment driven by regulatory requirements across emerging and developed markets globally. ID Centric brings established relationships with government issuers and deep regional expertise across the APAC region, complementing IDEX's world-leading biometric sensor technology and card integration capabilities.
Under the terms of the agreement, ID Centric will exclusively deploy IDEX sensors and biometric technology across its product offerings. The companies will cooperate closely on technology roadmap, product development, and joint go-to-market activities to accelerate commercial deployment at scale. IDEX retains the right to supply its technology to other partners and different verticals globally.
IDEX has agreed with the Convertible Bond holders, a fund managed by Heights Capital Management, to redeem the outstanding NOK 28.3M at 20% premium, subject to the private placement with ID Centric being completed.
Purchase Order and Commercial Scale
The initial binding purchase order of USD 1.75 million represents the first tranche of what is anticipated to be a significant and sustained volume relationship. ID Centric is in the process of securing contracts to deliver several million biometric ID cards in its markets, providing IDEX with a compelling near-term revenue ramp and improved long-term volume visibility in a new product category.
ID Centric will additionally act as an authorized channel partner and reseller for IDEX Access Cards and Payment Cards across its markets, extending the commercial scope of the relationship beyond national ID.
The Term Sheet will without undue delay be negotiated further and transformed into definitive agreements regulating the partnership and purchase and delivery of sensors in further detail.
Performance-Linked Option
As part of the partnership, IDEX grants ID Centric an option to acquire new shares representing an additional 5 % of IDEX's share capital at NOK 5.83 per share, and exercisable upon ID Centric sensor purchases exceeding 10 million sensors by 31 December 2027. The option aligns the long-term interests of both companies and creates a strong incentive for accelerated commercial execution. Terms and conditions of the option, including exercise price, will be disclosed in accordance with applicable regulatory requirements.
Capital and Governance
The NOK 90 million investment will be applied to support IDEX's commercialization activities, product development, and working capital requirements as the company scales its operations to meet growing demand. The first tranche of the investment (5%) is resolved issued by IDEX's board of directors on 5 March 2026 under the company's existing share issue authorization and the second tranche (15%) will be closed after and subject to approval by the IDEX shareholders' meeting. The subscription price in both tranches is agreed at NOK 5.83 per share, negotiated based on the 30-day VWAP of the IDEX share prior to 2 March 2026.
In the first tranche of the investment, the board of directors resolved to increase the share capital with NOK 3,824,233 by issuance of 3,824,233 new shares. Following registration of the share capital increases pertaining to the first tranche, IDEX' share capital will be NOK 68,836,196 divided into 68,836,196 shares, each with a nominal value of NOK 1 and each carrying one vote at the company's general meeting.
An extraordinary general meeting (EGM) will be held on or about 27 March 2026 to seek the necessary approval for the second tranche, among other things, and the invitation will be published in a separate notice in accordance with Oslo Stock Exchange requirements.
ID Centric will nominate a representative to the Board of Directors of IDEX Biometrics.
STATEMENT FROM ID CENTRIC
“We are very impressed with IDEX technology, which we believe is the best in the world, and with the IDEX team, with whom we have developed a very strong working relationship. We believe that together we will commercialize biometric ID cards at scale, delivering solutions that set a new global standard for secure and convenient identity verification”.
Michael Gardiner, Chief Executive Officer, ID Centric
STATEMENT FROM IDEX BIOMETRICS
“This is an important milestone for IDEX. The NOK 90 million private placement allows us to redeem the convertible bond, while this partnership brings both capital and commercial volume — exactly what we need to accelerate deployment. In today’s era of accelerating AI-driven threats, companies struggle to find solutions that are fit for purpose and compliant with evolving regulatory requirements. This is a global challenge, and IDEX is solving it. With a recapitalised balance sheet and this partnership in place, IDEX is now positioned to execute our business plan faster.” Anders Storbråten, Chief Executive Officer, IDEX Biometrics ASA
ABOUT ID CENTRIC
ID Centric Group Pte Ltd is a developer, manufacturer, and supplier of highly advanced electronic identity solutions to governments and commercial organizations.
The company’s primary technology is based on multifunction biometric smartcards that offer secure storage of personal credentials and sensitive data, and function as a trusted single source of identity across all public and private sector applications.
Headquartered in Singapore, ID Centric are partnered with several of the world’s leading security and identity management organizations. Working with powerful local market stakeholders, to deliver trusted physical and digital identity solutions to governments and their citizens throughout Asia Pacific and other regional markets.
https://idcentricgroup.com/
ABOUT IDEX BIOMETRICS ASA
IDEX Biometrics ASA is a leading provider of fingerprint identification technologies, offering a full suite of biometric solutions for payment cards, access cards, and national identity documents. The company's technology enables secure, contactless biometric authentication directly on the card — without a network connection or external reader infrastructure. IDEX is listed on the Oslo Stock Exchange under the ticker IDEX.
https://idexbiometrics.com/
CONTACTS
Anders Storbråten, CEO and CFO, Mobile: +47 416 38 582
IDEX Biometrics ASA | ir@idexbiometrics.com | www.idexbiometrics.com
Important Information
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Anders Storbråten, CEO and CFO of IDEX Biometrics ASA on 5 March 2026 at the time of this announcement.
This announcement is not and does not form a part of any offer to sell, or a solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although IDEX believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. IDEX undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.
This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of IDEX.
Neither IDEX nor its advisors accept any liability arising from the use of this announcement. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
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