IDEX Biometrics ASA - Update on Arbitration Award

Core Viewpoint - IDEX Biometrics ASA has won an arbitration case against Zwipe AS, with Zwipe required to make payments as per the arbitration award, but has since announced plans to file for bankruptcy, complicating the payment situation [1][2]. Group 1: Arbitration Outcome - The arbitration decision on January 27, 2025, favored IDEX on all counts against Zwipe [1]. - Zwipe was required to make payments within 14 days of the arbitration decision [1]. Group 2: Financial Situation of Zwipe - Following the due date for payments, Zwipe communicated its financial difficulties and engaged in discussions with IDEX regarding a payment plan [2]. - Discussions effectively ended when Zwipe announced on February 17, 2025, its intention to file for bankruptcy with the Oslo District Court [2]. - Although Zwipe has covered the arbitration costs, it has not made any payments to IDEX as required by the arbitration award [2]. Group 3: Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [4]. - The company focuses on card-based applications for payments and digital authentication, utilizing patented sensor technologies and integrated circuit designs [4].