BIO-key secures $4M order
29 December 2017 14:03 GMT

Biometric software and hardware solutions provider BIO-key has secured a $4 million order for its enterprise fingerprint biometric authentication platform, including maintenance services, from an existing Fortune 500 customer.  

The order builds upon the customer’s initial deployment last year to provide strong authentication to access customer records and other enterprise resources by several hundred thousand of the customer’s global personnel.  BIO-key expects to record $2.5M in license revenue from the order in the current quarter ending December 31, 2017 and the balance over the next three years.

BIO-key’s authentication platform is more flexible and secure than traditional biometric solutions, in that it allows customers to choose between securely managing biometric credentials centrally or on-device, enabling a portable biometric user experience. BIO-key’s unique interoperable software supports over 40 different scanners, including most integrated fingerprint scanners found in enterprise laptops and tablets. If legacy devices lack a scanner, customers utilize BIO-key’s high-quality, value-priced, USB fingerprint scanner solutions widely available via Microsoft, Amazon, Dell.com and BIO-key’s distribution partners and retailers.

“Following the success of last year’s initial one-year enterprise license agreement and software deployment, our customer elected to expand the scope and duration of our relationship into a perpetual software license agreement with software maintenance,” stated Mike DePasquale, Chairman & CEO of BIO-key.  “Beyond this order, BIO-key is also providing professional services integrating BIO-key into the applications and identity frameworks users interact with.”

Jim Sullivan, SVP Strategy and Business Development BIO-key stated, “This sale validates the strength and capabilities of our robust software, along with the critical market need for user-friendly, scalable biometric solutions to relieve enterprise users from the frustration of passwords, tokens, cards and keys as authenticators. It also represents another large scale deployment of BIO-key’s unique server-based biometric management approach. We are pleased this customer has rejected the limitations of ‘on-device-only’ authentication for their hundreds of thousands of employees.  Enterprises need flexible solutions.”