Precise Biometrics AB (publ) has acquired the leading Swedish visitor management system provider, EastCoast Solutions. In connection with the acquisition, Precise Biometrics has raised capital through a directed share issue that was carried out by an accelerated book building procedure.
EastCoast Solutions’ visitor management system EastCoast Visit is a system for enterprises in all sizes and used by over 600 companies across various sectors world-wide, and will significantly strengthening Precise Biometrics’ position within the field of physical access and stimulating additional growth opportunities through cross-selling activities. The founders of EastCoast Solutions will continue to be involved in the operations as employees of the Precise Biometrics’ group and support Precise Biometrics in the integration of the businesses.
Precise Biometrics is a global supplier of identification software. With over 20 years of experience, the company offers products in various areas of application that enable users to identify themselves by using their own biometrics. Precise Biometrics has a world-leading team in research and development, and expertise like few others in the industry.
Precise Biometrics was advised by Mannheimer Swartling in the transactions.