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Friday, October 11, 2013
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Fingerprint Cards AB Denies Acquisition By Samsung
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An announcement that the electronics giant Samsung bought Fingerprint Cards, a fingerprint ID maker, wasn't real, the Swedish company said on Friday.
"The previous press release was not sent by Fingerprint Cards AB. Trading in the share has been suspended," Fingerprint Cards said in a statement. "What has happened will be reported to the police and to the Swedish Financial Supervisory Authority."
Samsung also confirmed that the deal is a "groundless rumor."
The press release was distributed by Cision AB (CSN), a Stockholm-based release distributor, which has decided to turn the case over to the police, calling it a "sophisticated fraud." Cision received the statement from a contact person at Fingerprint Cards. It claimed that a $650 million Fingerprint Cards AB acquisition by Samsung Electronics had been approved by the boards of directors of both companies.
Sweedish Fingerprint Cards AB develops and produces biometric components and technologies that through the analysis and matching of an individual's unique fingerprint verify the person's identity.
The company's stock surged in value 50 percent in trading Friday before it was halted.
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