Biokey International Inc (BKYI)

[ProfitScout]

2FA Inc. Licenses BIO-key Biometrics to Upgrade Its Fingerprint Authentication Offerings

Link: http://www.marketwired.com/press-release/2fa-inc-licenses-bio-key-biometrics-upgrade-its-fingerprint-authentication-offerings-otcqb-bkyi-2094632.htm

WALL, NJ--(Marketwired - Feb 8, 2016) - BIO-key International, Inc. (OTCQB: BKYI), an innovative provider of strong, interoperable biometric authentication solutions, announced that 2FA, Inc., a veteran-owned cybersecurity company providing enterprise multifactor authentication (MFA) and single sign-on (SSO) solutions, has licensed BIO-key's fingerprint biometric authentication technology platform and incorporated it into 2FA's highly-regarded 2FA ONE Authentication platform. 2FA plans to begin delivering BIO-key-based solutions to customers in the first quarter.

2FA's upgrade to BIO-key insulates it from the rapidly-evolving fingerprint scanner marketplace, assures that 2FA end-users will have the freedom to mix and match among of BIO-key's over 40 supported fingerprint scanners, while also gaining the certainty of BIO-key's NIST-certified accuracy and 1-to-many identification capabilities, even among large enterprise populations. 2FA users will also be able to leverage BIO-key's new line of low-cost, high-quality fingerprint scanners, priced significantly lower than other aftermarket USB scanner devices.

"The strategic decision to leverage BIO-key's technology within our solution came after months of due diligence to find the best-of-breed biometric authentication suite to support our current and future customers," stated, Greg Salyards, 2FA, Inc. CEO. "With over 2,500,000 end-users worldwide who depend on our solution every day to access critical and protected information, the decision to incorporate BIO-key's technology into our authentication platform was crucial to ensure the highest security and customer satisfaction. 2FA supports over 250,000 public sector end-users who rely upon our solution for streamlined, yet compliant access to criminal justice information provided by state and federal agencies. Our plan is to immediately leverage BIO-key's technology for HIPAA- and EPCS-compliant authentication at our largest healthcare customers, ranging in size from 10,000 to over 20,000 users."

"BIO-key is thrilled to welcome a company with 2FA's track record of success to our list of innovative customers," stated Jim Sullivan, SVP Global Sales, BIO-key. "We are especially pleased that an authentication provider with 2FA's years of biometric authentication experience has elected to take their biometric offering to the next level by adding BIO-key's interoperability, 1-to-many identification, and NIST-tested accuracy. We look forward to working with 2FA to bring this solution to their sizable existing customer base," added Sullivan.

About BIO-key
BIO-key is Revolutionizing Authentication as our easy to use biometric solutions enable convenient and secure access to information and financial transactions. We eliminate passwords, PINs tokens and cards and make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices SideSwipe and EcoID offer market leading quality, performance and price. Now anyone can BIO-key their world!
(http://www.bio-key.com)

About 2FA
Founded in 2006, 2FA Inc. is a veteran-owned, cybersecurity company created on the single vision of simplifying authentication. 2FA's products integrate authentication and single sign-on (SSO) into a single solution. 2FA serves customers in diverse industries including: public sector, healthcare, energy, manufacturing, and finance; with special focus on industries where compliance requires the adoption of authentication. 2FA supports over 1,000 customers and millions of users around the world, including deployments in all 50 states and over 25 countries. 2FA's customers range in size from well over 1,000,000 to less than ten users; including several of the largest US city-based authentication deployments for CJIS compliance, leading healthcare organizations, and global enterprises. (http://www.2fa.com)

BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

Investor & Media Contacts:
David Collins, Tanya Kamatu
Catalyst Global
212-924-9800
[e-mail]