Precise Biometrics Plans Office Closure in Sweden, Opening in Shanghai

“In order to achieve our objective to remain a leading provider of biometric solutions, we have identified the need to strengthen our local presence in the Asian market, where we see a growing demand.” – Stefan K. Persson, CEO, Precise Biometrics

Precise Biometrics Plans Office Closure in Sweden, Opening in ShanghaiPrecise Biometrics is planning some major changes to its corporate structure, announcing its intention to shutter one office and to open another.

Part of the aim is to centralize operations around Precise Biometrics’ headquarters in Lund, Sweden. To that end, the company plans to close its office in the Swedish town of Karlstad, saying in a statement that it will initiate consultations with trade unions concerning the 15 employees and consultants who are likely to be affected by the move.

The other major prong of the change will be the opening of a new office in Shanghai, which Precise Biometrics says will allow it to improve customer service for its growing base of clients in the APAC region. As CEO Stefan K. Persson explained in the company’s statement, “In order to achieve our objective to remain a leading provider of biometric solutions, we have identified the need to strengthen our local presence in the Asian market, where we see a growing demand.”

The organizational changes are expected to take place in the first half of next year, with Precise Biometrics predicting that it won’t “entail any significant one-off costs,” and that the streamlined operations in Sweden will deliver cost savings starting next year.

The news comes just a few weeks after Precise Biometrics’ announcement of a change in its business strategy that will see the company focus on the development of multimodal biometric authentication solutions beyond the fingerprint algorithm software that has been its mainstay, suggesting that Precise Biometrics have been doing some very high-level planning over the last couple of months.

November 5, 2018 – by Alex Perala