2024-6-12 Oslo: Next Biometrics ASA (“NEXT”), and its long-term go to market partner in China, WISER, share the ambition to efficiently scale NEXT’s operations in the country and improve its position in the value chain. To amplify their efforts, both companies have reached an agreement to establish a joint venture to further drive and support NEXT’s sales and marketing operations in China. The new company will enhance NEXT’s participation directly in the tier 1 OEMs and other larger tender projects. The new strategy and direct engagement with top-tier OEMs and clients, may also improve NEXT’s position in the value chain, follow this strategic step of the expansion.
As a leading company in the semiconductor industry, NEXT and its long-term Chinese partner WISER share the ambition of providing enhanced, biometric security through state-of-the-art thermal, biometric solutions, combined with WISER’s local expertise and experience in Chinese market. Since the signing of a partnership in 2023, the Parties have jointly approached a number of top-tier OEMs and industrial partners, and identified massive potential for NEXT in China. To amplify their efforts, both companies have now reached an agreement to establish a joint venture to further accelerate, drive and support NEXT’s sales and marketing operations in China.
The partnership with Wiser has already brought tangible results, such as several MoUs, Memorandum of Understandings, and customer agreements. Wiser’s relationships with the banks and financial industry also make an ideal match, as it will help accelerate NEXT’s business development in China and secure direct access to such tenders.
Ulf Ritsvall, Chief Executive Officer at NEXT, comments:
“The Asian region is strategically important to us and a key geography in our plans for growth. We have been very pleased with our partnership with WISER and I look forward to continuing it through this joint venture. Our new agreement will provide us with an excellent foundation to develop our operations in China and put us in a highly competitive position to secure new business.”
Kevin Chen, Chief Executive Officer at WISER, comments:
“We are glad to join the growth journey with NEXT in China. NEXT has a unique technology for biometric security, which will be an integral part of the growing digital economy. Furthermore, Chinese OEMs are also playing an important role in global market. We have accumulated vast experience in assisting Nordic technology companies for their growth in China, and we believe our expertise and experience in local biometrics industry will be a good complement to NEXT in China.”
Going forward, all NEXT’s sales in China will be conducted through the jointly owned company. NEXT and Wiser will be partners in the company, which will operate as an independent entity in China. The jointly owned company will function as a dedicated sales and marketing organization in China, aimed at accelerating sales. NEXT’s operations in its other geographical regions and business areas will remain unaffected.
About NEXT
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.
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