"Idex announces agreement for ASIC design and mass-production"
PRESS RELEASE Idex announces agreement for ASIC design and mass-production Oslo, Norway, October 12, 2006 – In line with Idex ASA’s ongoing industrialization of the SmartFinger® swipe sensor, Idex ASA has entered into agreements for design and mass production of its ASIC (Application Specific Integrated Circuit), with Faraday Technology, a leading IP and ASIC vendor, and SoC Technology, Faraday’s system-on-chip design center and sales representative for central Europe. “The ASIC is considered to be the most crucial component in order to complete the commercialization of a final product. With this agreement, Idex will be able to mass produce and deliver the SmartFinger® in the second half of 2007,” says Fredrik Scheinert, Managing Director at Idex ASA. “We are proud of partnering with Faraday, a world leading ASIC vendor with specialized design expertise and experience from thousands of successful designs. This partnership strengthens our presence in the fingerprint market. The adoption of biometric authentication is really starting to take off, and the timing is perfect for Idex,” Scheinert says. This is in line with Idex’ business strategy, which is to design components and sell the SmartFinger® sensor directly to world-leading players within the mobile, computing and multimedia industry. “We are very excited about the cooperation with Idex since Faraday sees great potentials in the rapid growing biometric industry, and we believe Idex is becoming a major player in the mobile, PC/Network and multi media arena. Through the partnership with Idex, Faraday can also further strengthen our ASIC design and production service presence in Europe,” said René Lie, General Manager of Faraday Technology, Europe. About Faraday Technology Corporation Faraday Technology Corporation is a leading silicon IP and fabless ASIC vendor. The company's broad IP port- folio includes 32-bit RISC CPUs, USB 2.0, Ethernet, Serial ATA, and PCI-Express. Faraday has already completed over 3000 successful designs, with nearly 100 million chips shipped annually worldwide. With more than 630 employees and 2005 revenue of $175 million, Faraday is one of the largest fabless ASIC companies in the Asia- Pacific region, and it also has a significant presence in other markets, worldwide. Headquartered in Taiwan, Faraday has service and support offices around the world, including the U.S., Japan, Europe, and China. For more information, please visit: http://www.faraday-tech.com About SOC Technology SOC Technology is a well established ASIC and System-on-Chip Design House with major design and sales activities in Central & Western Europe, providing both, technical and commercial Microchip Solutions for your products. The company develops complex deep-sub-micron analog and digital ASIC and System-on-Chip designs, particularly with embedded microprocessors, FLASH, DRAM. SOC Technology is headquartered in Schwalbach, close to Frankfurt, in Germany. Additional information can be found at: http://www.soc-tech.de About Idex ASA Idex ASA is a Norwegian company specializing in fingerprint recognition. Idex has developed the SmartFinger® sensor consisting of both hardware elements and software algorithms which enables identification and navigation capabilities within the very same module. SmartFinger® is a single-line fingerprint swipe sensor with low power consumption and optimal user experience through superior speed and skew correction. The sensor is inherently suited for integration into a wide range of applications, e.g. mobile phones, PDA’s, smart phones, laptops, USB flash drives, and multimedia devices. Idex’ business strategy is to establish partnerships with world-leading semi-conductor manufacturers with the organization and facilities to mass produce and market the SmartFinger® technology worldwide. Idex ASA is also a leading provider of intellectual property within the field of fingerprint swipe sensors. Revenues will be generated from license fees on IPR and sale of the SmartFinger® sensor. Idex shares are traded on the A List of the Norwegian Stockbrokers Associations OTC List. Contact: Fredrik Scheinert Managing Director +47 67 82 72 80 / +47 92 46 79 57 email@example.com