OSLO, NORWAY -- ODM  World Wide Touch Technology (Holdings) Ltd. has acquired a 2.2% stake in IDEX for $5 million, the companies announced. The stake boosts WWTT's push into biometrics, an area that the contract assembler has an OEM product line.

"In anticipation of the explosive growth in biometrics in the coming years, and to support our FingerQ product roadmap, our investment in IDEX will help us realize our goals," said Kelvin Wong, CEO of WWTT. "IDEX's advanced fingerprint imaging and recognition technology allows us increased flexibility in product design and development."

Hong Kong-based WWTT is a contract designer and assembler of automation products, modules and components. In August, it reported first-half sales of HK$537 million ($69.2 million) and employs approximately 2,400 workers.

"World Wide Touch Technology is the first strategic industrial player to make an investment in IDEX, and we are proud to welcome World Wide on our list of shareholders, said Morten Opstad, chairman of IDEX.