Defense ministry deploys BIO-key biometric management platform

BIO-key revealed that the cybersecurity group of an unnamed government defense ministry has selected and deployed BIO-key’s WEB-key server-based biometric management platform, as well as BIO-key fingerprint scanners, to protect its existing federated Microsoft Active Directory environment. The US$257K initial purchase order will enable strong authentication for the users of defense ministry IT systems and is expected to lead to additional opportunities as the solution is deployed more broadly. According to a company statement, BIO-key worked closely with the ministry’s

Biometrics industry stocks this week

Naysayers about the direction of stock markets continue to get it wrong. Share indexes have started 2018 with a bang. This week the Dow Jones Industrial Average moved past the 25000 point mark for the first time in history. The Nasdaq market set its own record, closing above 7,000 on Tuesday. It would be folly to expect the Nasdaq to go on to chalk up another 37-percent annual advance in 2018 as it did in 2017. Prudently, many fund managers

BIO-key to demo biometric lock and fingerprint reader lines at CES

BIO-key will be demonstrating its line of TouchLock products and compact fingerprint readers at CES next week in Las Vegas. In addition to its current line of biometric and Bluetooth enabled padlocks and bicycle locks, the company will introduce the TouchLock Pro, a biometric and Bluetooth enabled heavy-duty padlock and the TouchLock Bike, a heavy duty, flexible cable lock for bikers on the go. BIO-key will also be demonstrating its compact fingerprint reader line featuring a variety of formats that

BIO-key wins $4 million enterprise software contract

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

Biometrics industry stocks this week

As the biometrics industry continues to grow, Biometric Update is bringing a new focus to the stories around the stocks in the sector. Check in with this space each week for a rundown of the financial news and interesting ideas from the week that was. Yet another major data breach has come to light. The latest announcement comes from governance-challenged, ride-hailing service Uber, which admitted it lost massive amounts of use data in a hack that occurred months ago. The

B.C. government expands use of BIO-key fingerprint authentication solution

The Province of British Columbia is expanding its use of BIO-key’s fingerprint authentication solution, WEB-key. The B.C. government first deployed BIO-key’s technology in 2012 to enable secure self-service access for identity information management and authentication services. Now, BIO-key’s WEB-key solution is being deployed into new areas, leveraging biometric authentication to augment physical access control in a new facility. “By leveraging international standards for biometric data, BIO-key is able to provide the Province with a flexible, secure, and highly scalable platform

BIO-key CEO to present at security investor conference

BIO-key CEO Michael DePasquale will present at next month’s 14th annual Imperial Capital Security Investor Conference. This institutional investor conference connects over 65 public and private security-focused companies with an audience of more than 400 key investors and business leaders. SIC provides investors access to senior management teams while they present their positioning and strategic growth plans. Just last week, the biometric software and hardware solutions developer reported a 118 percent revenue increase in its third quarter revenue report, driven

BIO-key adds Fabian Shin to board, expands Asia presence

In an effort to expand its presence, experience and base of relationships in Asia, BIO-key International has appointed Hong Kong-based Mr. Fabian Shin to BIO-key’s board of directors, increasing the board to nine members with three directors in Asia, one in Europe and five in the U.S. “I am honored to join BIO-key’s Board at this exciting point in its transformation and growth,” commeted Shin. “I already see a range of potential opportunities to pursue on BIO-key’s behalf in Asia

BIO-key doubles revenue on hardware sales growth

BIO-key reported a 118 percent revenue increase to $942,000 in its third quarter revenue report on Wednesday, driven by increased demand, broader distribution, and an expanded line of products including its TouchLock padlocks. Hardware devices made up over half of BIO-key’s revenues in the quarter ending September 30, rising 133 percent to $512,000, including $164,000 from sales of TouchLock, which launches in the U.S. this quarter. BIO-key reached deals to supply its SideSwipe fingerprint sensor to a government defense contractor

Biometrics industry stocks this week

As the biometrics industry continues to grow, Biometric Update is bringing a new focus to the stories around the stocks in the sector. Check in with this space each week for a rundown of the financial news and interesting ideas from the week that was. Are stock indices ready for a pullback? As markets continue to trade near record highs some suggest there are signs the trend could be at an end. One analyst pointed out the S&P 500 recently