BIO-key secures more than $10M in orders
15 November 2018 16:23 GMT

BIO-key has secured in excess of $10 million in orders for its biometric authentication platform from two Hong Kong based companies focused on the technology and financial services industries in Asia.

 The solution based on BIO-key’s WEB-key biometric security platform will allow users to consummate secure transactions on mobile devices and employees to securely access company information. The orders take advantage of mobile security technology previously licensed.  BIO-key expects to record approximately $5M in license revenue in the current quarter ending December 31st, 2018, and the balance in the next 12 months.

BIO-key’s authentication platform allows customers to choose between securely managing biometric credentials centrally or on-device, enabling a portable biometric user experience. 

“Since starting operations in the Asia Pacific Region in 2016 we are pleased to have closed the first orders that will utilize our software for multi-factor authentication,” stated Mike DePasquale, Chairman  & CEO of BIO-key.  “It has been our goal and objective to open the Asian markets through our operations in Hong Kong and China and this is the first step in addressing enterprise and consumer security in one of the fastest growing regions of the world”.