IBB

BIO-key Awarded $800K Follow-On Order for Biometric User Authentication from Leading Government Defense Ministry

Retrieved on: 
Monday, November 6, 2023

The defense ministry is accelerating its deployment of BIO-key biometric authentication to secure, yet simplify, access to its most critical information systems.

Key Points: 
  • The defense ministry is accelerating its deployment of BIO-key biometric authentication to secure, yet simplify, access to its most critical information systems.
  • This order, along with portions of earlier $340k and $150K orders received in Q3’23, is expected to be recognized during Q4’23.
  • The defense ministry continues to expand its BIO-key user authentication deployment into new programs and user scenarios, delivering convenient phoneless, tokenless, and passwordless authentication access to digital services for over 30,000 users.
  • BIO-key’s secure biometric authentication platform has been integrated with the ministry’s virtual desktop infrastructure (VDI) capabilities to allow secure VDI-optimized biometric authentication without requiring phones or tokens.

BIO-key International Announces Closing of $3.75 Million Public Offering

Retrieved on: 
Tuesday, October 31, 2023

Each unit was sold at a public offering price of $0.175.

Key Points: 
  • Each unit was sold at a public offering price of $0.175.
  • The warrants will be immediately exercisable at a price of $0.175 per share and will expire five years from the date of issuance.
  • Gross proceeds, before deducting placement agent fees and estimated offering expenses, were approximately $3.75 million.
  • A final prospectus relating to the offering was filed with the SEC on October 31, 2023 and is available on the SEC’s website at http://www.sec.gov.

BIO-key International Announces Pricing of $3.75 Million Public Offering

Retrieved on: 
Monday, October 30, 2023

Each unit is being sold at a public offering price of $0.175.

Key Points: 
  • Each unit is being sold at a public offering price of $0.175.
  • Gross proceeds, before deducting placement agent fees and estimated offering expenses, are expected to be approximately $3.75 million.
  • The offering is expected to close on October 31, 2023, subject to customary closing conditions.
  • The offering is being made only by means of a prospectus, which is a part of the effective registration statement.

Montenegro Ministry of Defense Selects BIO-key for Secure Data Access for All Ministry Employees With Multi-factor Authentication and Single Sign-On

Retrieved on: 
Monday, October 30, 2023

The Defense Ministry’s obligation is to ensure the security and defense of Montenegro and the objective of the project was to require MFA for login and to simplify the user experience through SSO integration with web and legacy applications.

Key Points: 
  • The Defense Ministry’s obligation is to ensure the security and defense of Montenegro and the objective of the project was to require MFA for login and to simplify the user experience through SSO integration with web and legacy applications.
  • This project was managed by REAL security d.o.o , one of BIO-key EMEA’s trusted partners with several years of experience implementing complex cybersecurity solutions in the region.
  • "Adding another defense ministry client only further validates the strength of BIO-key’s multi-factor authentication solutions, not only in the defense industry but in any environment where strong security is a requirement.
  • Our team continuously strives to improve our products and stay ahead of increasing threats in today’s global environment.

Logistics Provider ALPI Portugal Selects BIO-key for Secure Data Access, Including Multi-factor Authentication and Single Sign-On, Both Internally and for B2B

Retrieved on: 
Friday, October 27, 2023

The solution will utilize Multi-factor Authentication (MFA) access and Single Sign-on (SSO) to secure data access by all of ALPI Portugal’s internal users, including employees and third party drivers, as well as those with restricted access to their B2B website.

Key Points: 
  • The solution will utilize Multi-factor Authentication (MFA) access and Single Sign-on (SSO) to secure data access by all of ALPI Portugal’s internal users, including employees and third party drivers, as well as those with restricted access to their B2B website.
  • Additionally, ALPI aimed to enhance the user experience by integrating SSO (Single Sign-On) with web platforms, to ensure protected B2B interactions.
  • "We are proud to work with and enable secure authentication solutions for ALPI Portugal, an esteemed logistics provider.
  • This collaboration will allow us to jointly provide round-the-clock support for 24x7 operations like ALPI logistics," stated Alex Rocha, Managing Director at BIO-key EMEA.

Digital Authentication and Identity Provider BIO-key Sees Q3 Revenues Rising over 30% to $1.8M on Strength in Software License Fees, Services and Hardware Sales

Retrieved on: 
Wednesday, October 25, 2023

BIO-key CEO, Mike DePasquale commented, “Our Q3 performance reflects continued progress driving revenue growth and reducing expenses to move our business toward sustained profitability.

Key Points: 
  • BIO-key CEO, Mike DePasquale commented, “Our Q3 performance reflects continued progress driving revenue growth and reducing expenses to move our business toward sustained profitability.
  • These trends are also reflected in our nine-month results, with revenues up approximately 30% to $6.8M and our operating loss reduced by over 50%.
  • Our Channel Alliance Partner (CAP) program continues to build both its geographic scope and its sales productivity.
  • Q3’23 revenues rose 33% to $1.8M, reflecting increased services, software license and hardware revenue versus Q3’22.

BIO-key Sponsors Industry-Leading Cybersecurity Conference, ISC2 Security Congress 2023, in Nashville, TN, October 25 – 27, 2023 (Booth #113)

Retrieved on: 
Tuesday, October 24, 2023

The industry-leading event will be held at the Gaylord Opryland Resort and Convention Center in Nashville, TN on October 25 – 27, 2023.

Key Points: 
  • The industry-leading event will be held at the Gaylord Opryland Resort and Convention Center in Nashville, TN on October 25 – 27, 2023.
  • The ISC2 Security Congress is an annual cutting-edge cybersecurity conference in its 13th installment.
  • Leading technology professionals from across industries will gather to showcase breakthrough technology, share knowledge, and engage prospective customers, suppliers, and fellow vendors.
  • Implementing strong multi-factor authentication (MFA) and eliminating the use of passwords are top priorities for organizations of all sizes and across industries.

Identity and Access Management Solutions Provider BIO-key Sponsors FIDO Alliance’s Authenticate 2023 Conference in Carlsbad, CA, October 16-18, 2023 (Booth #19)

Retrieved on: 
Monday, October 16, 2023

BIO-key has long been recognized for its commitment to developing cutting-edge solutions that redefine the landscape of identity and access management.

Key Points: 
  • BIO-key has long been recognized for its commitment to developing cutting-edge solutions that redefine the landscape of identity and access management.
  • Over 35 million people use BIO-key to instantly prove and secure their identity every day, with nothing to carry, lose or replace.
  • During the Authenticate 2023 Conference, BIO-key will showcase its latest award-winning IAM and IBB solution advancements at booth #19 .
  • "We are thrilled to be part of the Authenticate 2023 Conference," said Jim Sullivan, SVP of Strategy and Chief Legal Officer of BIO-key International.

Identity and Access Management Solutions Provider BIO-key to Participate in Digital Identity Panel at the Maxim Group Virtual Tech Conference, Tues. Oct. 10th at 12:30pm ET

Retrieved on: 
Friday, October 6, 2023

BIO-key’s CEO Mike DePasquale will join the Identity Panel discussion on Tuesday, Oct. 10th from 12:30 to 1:30pm ET.

Key Points: 
  • BIO-key’s CEO Mike DePasquale will join the Identity Panel discussion on Tuesday, Oct. 10th from 12:30 to 1:30pm ET.
  • The conference and panel discussions will be hosted live on M-Vest.
  • Visit: https://m-vest.com/events/virtual-tech-10102023 to sign-in or sign up to become an M-Vest member and access the event.
  • In this conference Maxim will explore how emerging growth companies are leveraging new technologies to position themselves for the future.

BIO-key International Joins AWS ISV Accelerate Program to Elevate Biometric Security Solutions on AWS

Retrieved on: 
Thursday, September 7, 2023

Having joined the AWS Partner Network in June of 2022, acceptance to the Accelerate Program marks a significant milestone in BIO-key's journey to provide advanced biometric security solutions on AWS.

Key Points: 
  • Having joined the AWS Partner Network in June of 2022, acceptance to the Accelerate Program marks a significant milestone in BIO-key's journey to provide advanced biometric security solutions on AWS.
  • BIO-key's biometric authentication solutions offer unparalleled security and convenience, leveraging unique biometric identifiers such as fingerprints, faces, palm scans, and more.
  • "BIO-key is thrilled to be accepted into the AWS ISV Accelerate Program, which validates the strength of our biometric authentication solutions and our commitment to innovation in the field of cybersecurity," said Galen Rodgers, VP of Sales & Channel, BIO-key International.
  • To learn more about the AWS ISV Accelerate program, please visit https://aws.amazon.com/partners/programs/isv-accelerate/ .