The following is a brief overview of significant milestones in the Company’s history.
Following its incorporation in 1996, the Company’s initial business plan was to develop an optical solution for access control environments. During the work, the first results of an alternative technology began to emerge.
The results were so promising that all efforts and resources went into the development of the first version of the patented AC capacitive swipe sensor, which provides the SmartFinger® technology; the basis for IDEX’ business and products. It allows for implementation of fingerprint authentication, omni-directional pointing and 4-way navigation in the same component.
The following is a brief overview of significant milestones in the Company’s history:
January: IDEX entered into a partnership with Trustonic, the leading provider of Trusted Execution Environments (TEEs) for smart devices. IDEX and Trustonic will collaborate to integrate IDEX’s next generation fingerprint sensors and driver software with Trustonic TEE.
March: Funds managed by Woodford Investment Management LLP have agreed to acquire 52,500,000 new shares in the Company at a subscription price of NOK 5.65 per share. The funds will also receive 26,250,000 warrants in IDEX, each with an exercise price of NOK 8.50. The warrants are open to be exercised 12 months after the date of their issue and will expire 24 months after issue. The issuance of shares and warrants were formally approved at the extraordinary general meeting of shareholders in IDEX on 29 April 2015.
April: Oslo Børs approves the Company’s application for transfer of listing from Oslo Axess to Oslo Børs, with first day of listing on Oslo Børs being on or about 11 May 2015.
January: Invesco funds, a major global investor, invest NOK 300 million in IDEX. Invesco funds acquire 60 million new shares in IDEX at a subscription price of NOK 5.00 per share, which represent 14.8 % of the issued and outstanding shares in IDEX. The funds also receive 30 million warrants in IDEX, each at an exercise price of NOK 7.50. The warrants are open to be exercised in the period 29 January 2015-29 January 2016.
January: IDEX secures an order of 300,000 units for the Colibri swipe sensor from World Wide Touch Technology (WWTT). This volume order is IDEX’s first commercial launch for the Colibri swipe sensor embedded in consumer electronics devices for mobile and laptop accessories.
February: IDEX demonstrates the first glass fingerprint sensor at the Mobile World Congress in Barcelona, Spain. The sensor separates the finger interface from the electronics, enabling sensing in virtually any material such as glass, polymer and silicon.
May: IDEX enters into a license agreement with Cypress Semiconductor Corporation, providing for the commitment of significant joint resources and intellectual property for the rapid development of second-generation fingerprint sensor technology, high-volume manufacturing, product supply and application support to established mobile customer channels.
July: IDEX receives an initial order to deliver fingerprint swipe sensors to Card Tech srl. The sensors are integrated into Card Tech’s biometric cards for the access control and ID markets. The biometric cards were manufactured by Card Tech’s first-tier production partner.
September: IDEX entered into a strategic partnership agreement with FocalTech Systems Ltd to supply swipe fingerprint sensors. The two companies will jointly target the large and rapidly growing fingerprint sensor market with a strong focus on China for cost sensitive mobile devices, including smart phones.
October: IDEX announces that the previously reported order of 300,000 fingerprint sensors from World Wide Technology (WWTT) is upgraded from swipe to touch sensors, reflecting the positive market reaction to these devices.
November: Card Tech announces that it is ready to mass-produce its Card Tech Smart Card. The Smart Card is demonstrated for the first time at the trade fair Cartes in Paris, France on 4-6 November 2014.
November: IDEX enters into a memorandum of understanding with Amkor Technology to establish a strategic mass volume manufacturing partnership for fingerprint sensors, formalizing significant development progress over six months.
November: IDEX enters into a partnership with Flextronics to provide IDEX’s high performance fingerprint sensors as part of Flextronics’ Open Innovation Platform Offering.
December: IDEX purchased a world-leading software algorithm and key patents for small area fingerprint touch sensors from Roger Bauchspies.
February: IDEX presents a novel SmartFinger in glass technology concept at the Mobile World Congress.
April: Apple/AuthenTec verify IDEX licence agreement (with UPEK Inc., which entity was acquired by AuthenTec) for certain important early patents.
May: Hemant Mardia, formerly CEO of Filtronic Plc, appointed as new CEO.
May: Partnership agreement with global mobile communications partner signed (and expanded in October 2013).
September: IDEX acquires IP and patents for touch sensor technology from PicoField Technologies, Inc. enhancing IDEX’s existing IP. Founders of PicoField and Validity join IDEX securing strong industry knowhow and credibility.
October: IDEX opens Silicon Valley and Boston offices in USA as part of achieving a global presence. IDEX joins FIDO alliance, which is developing protocol standards for biometric authentication.
Commercial order, from S.I.C Biometrics.
Commercial agreement with European based OEM partner.
IDEX enters into an agreement with a Chinese technology company.
First sensor order, from Validus.
Cooperation agreements with nine new partners.
Shares admitted to trading at Oslo Axess.
SmartFinger Film launches.
Winner of the SESAMES award in Identification and ID. Showcase of smart card with fingerprint sensor.
IDEX completes the embedded reference design and the first prototypes of the next generation SmartFinger sensor family are verified.
IDEX receives the 2009 Frost & Sullivan Global Swipe Sensor Product Differentiation Innovation of the Year Award.
IDEX enters into strategic licensing agreements with Validus Technologies Corporation and Ionics EMS Inc.
The SmartFinger IX-10-4 sensor is released and development kits are available to customers.
IDEX reaches a settlement with ST Microelectronics and UPEK, Inc. in connection with the dispute over patent infringement on IDEX patents. UPEK, Inc. paid a one-off settlement amount to IDEX and a cross-license was entered at the same time. The license agreement with ST Microelectronics, which was entered in 2001, was terminated.
The program for a complete redesign of the SmartFinger was initiated.
IDEX completes the integration of the SmartFinger technology on the OMPA 1610 mobile platform of Texas Instruments.
Second silicon iteration of SmartFinger proves successful.
IDEX enters into a license agreement with ST Microelectronics. An exclusive patent license agreement (inbound) with SINTEF was entered into.
IDEX secures patent protection in the navigation and pointer feature of the technology.
A desk top model was produced to demonstrate the technology.
Reporting of share trades at the NOTC list commenced.
IDEX enters into a partnership with SINTEF with the aim of developing the swipe sensor technology.
IDEX was founded to develop and commercialize unique hardware and software for biometric identification by use of fingerprint.