BIO-key International, Inc. (NASDAQ: BKYI) is a provider of biometric authentication and security solutions. Shares surged 23.01% on Wednesday, January 30, 2019. Over the past three months, BIO-key has seen an average daily volume of 19,990 shares. However, on Wednesday, 257,424 shares traded hands, equating to $357,800 in dollar volume.
Shares surged Wednesday after BIO-key announced that its fingerprint reader scanner, EcoID, has been selected by a Global Aerospace Defense company to support their rollout of Microsoft Windows 10 and Windows Hello for Business. This multi-billion dollar Defense contractor will be the second-largest Aerospace company to “deploy BIO-key’s fingerprint technology since the introduction of the NIST 800-171 mandate for strong authentication to protect the confidentiality of controlled unclassified information.” Mike DePasquale, Chairman and CEO of BIO-key, commented, “When an organization of this magnitude migrates to biometric authentication it establishes another milestone for the adoption of biometric technology for the enterprise.” Here is the full press release detailing BIO-key’s EcoID and its deployment with Microsoft’s Windows Hello:
BIO-key International, Inc. Press Release:
WALL, N.J., Jan. 30, 2019 (GLOBE NEWSWIRE) — BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of biometric authentication and security solutions, today announced that a global security and Aerospace company has purchased and deployed BIO-key’s fingerprint reader solutions in support of the company’s initial roll out of Microsoft Windows 10 and Windows Hello for Business. The customer is a multi-billion dollar Aerospace Defense company that provides products and services to governments around the globe. This is the second large Aerospace Defense contractor to deploy BIO-key’s fingerprint technology since the introduction of the NIST 800-171 mandate for strong authentication to protect the confidentiality of controlled unclassified information.
Windows Hello for Business enhances security while improving the user experience with a simplified biometric log-on. For this deployment, the customer selected EcoID, BIO-key’s most popular enterprise-level compact fingerprint scanner. EcoID is ideal for desktops, laptop docking stations, or thin clients, connecting to the device via a USB cable. The customer also purchased SidePass, which connects directly to the USB port on laptops and tablets. Both EcoID and SidePass have been tested and qualified by Microsoft to bear the Windows Hello-ready mark.
The biometric authentication platform offered by Windows Hello and enabled by BIO-key scanners augments existing security platforms by delivering stronger security and with an unmatched user experience.
“When an organization of this magnitude migrates to biometric authentication it establishes another milestone for the adoption of biometric technology for the enterprise,” stated Mike DePasquale, Chairman & CEO, BIO-key. “Organizations of this size and scope make technology and infrastructure decisions that must stand the test of time. BIO-key has purposefully aligned with Microsoft to ensure that our products and our product development complement the leadership and direction they are offering their customers. Microsoft has made a bold statement to its enterprise customers, that biometric sign-in is the future of authentication, with the introduction and promotion of Windows Hello for Business.”
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices offer market-leading quality, performance and price. BIO-key also brings the power and ease of use of biometric technology to its TouchLock line of biometric and Bluetooth enabled padlocks – providing even more ways to BIO-key your world!
BIO-key Safe Harbor Statement
All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, our ability to raise additional capital, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.
Article By: Andrew Rego