Oslo, January 31, 2023 – NEXT Biometrics (Oslo Bors: NEXT) announces that it has signed a strategic partnership agreement with WISER Group Holdings Limited, Guangzhou, China. WISER will be NEXT’s market entry partner in China, starting from February 1st, 2023.
WISER Group will set up a virtual sales and marketing organization representing NEXT and be physically present in China, accelerating market entry into NEXT’s already communicated market segments. NEXT will provide technical sales support from its offices in China and Taiwan. WISER will already from start provide multiple resources with seniority and biometric expertise. Certain priorities and milestones are agreed, including number of design wins and revenue expectations. NEXT expects revenue growth resulting from this partnership before year-end 2023.
WISER is a China based venture partner with a long history of assisting Nordic and European companies with market entry in China. They have an experienced team and have been engaged with several success cases during the last 10+ years. One example is a food-tech company, a public traded Swedish technology company, which has entered China successfully via a joint venture with WISER.
“This partnership is a cost-effective way for NEXT to increase its presence in one of the world’s largest biometric markets. WISER has a proven track record enabling European tech companies to succeed in China. When certain success criteria are met there is a potential for even closer collaboration between WISER and NEXT.” says the CEO of WISER Group, Kevin Chen.
“The Chinese market requires additional attention from NEXT. After review of several partners, we have selected WISER as market entry partner. By quickly adding resources to our global sales team, we believe this will accelerate NEXTs revenue growth during second half of 2023.”, says the CEO of NEXT, Peter Heuman.
About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control, and notebook markets. The company’s patented NEXT Active Thermal principle allows the development of large, high-quality fingerprint sensors in both rigid and flexible formats. NEXT Biometrics Group ASA (www.nextbiometrics.com) is headquartered in Oslo, with sales, support, and research and development in Seattle, Taipei, Bangalore, New Delhi, Tokyo, Dubai, and Shanghai.