January 2, 2018 -
BIO-key recently won a $4 million software order for its enterprise fingerprint biometric authentication platform, including maintenance, from an existing Fortune 500 customer.
The customer initially deployed BIO-key products last year to protect its customer records with strong authentication for its several hundred thousand global personnel.
The initial license revenue of $2.5 million was expected in the quarter ending December 31, 2017, with the remainder coming over the next three years.
“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.”
BIO-key’s authentication platform allows customers to chose to manage biometric credentials centrally or on-device, and its interoperable software supports over 40 different scanners, including most of those integrated in enterprise laptops and tablets.
“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,” said BIO-key SVP Strategy and Business Development Jim Sullivan. “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.”
In November, British Columbia expanded its use of BIO-key’s WEB-key fingerprint authentication solution.