Replies to post #3916 on Biokey International Inc (BKYI)

[ProfitScout]

Very impressive news from BKYI today. Having BIO-key selected by such a high level cybersecurity name as 2FA (after a long due diligence period on their part) is the best possible endorsement and should open the doors for much wider acknowledgement and employment of BIO-key tech.

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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. (www.2fa.com)

[ProfitScout]

Note in today's BKYI news that 2FA has already begun incorporating BIO-key tech into one of 2FA's best products and plans to begin commercial distribution within the 1st quarter of 2016. I love to see new clients moving ahead immediately which demonstrates that there are no background issues still to be worked out and no long waiting period for revenues to begin.

From today's PR:
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.

[ProfitScout]

Planet Biometrics picked up the BKYI news today for their site:
http://www.planetbiometrics.com/article-details/i/4123/desc/2fa-licences-bio-key-for-fingerprint-authentication/

Excellent to see cybersecurity industry editors following BIO-key's developments.

Also, today's BYKI news was covered by CNN Money on their site:
http://money.cnn.com/news/newsfeeds/articles/marketwire/1242788.htm

[jonQ]

Checked out the website for 2FA, They look like a big deal, this could be good for a change. Maybe even spectacular

[ProfitScout]

BIO-key should be in for a significant revenue boost from the new product distributions through 2FA. The numbers of new users that 2FA can bring were mentioned in yesterday's BKYI announcement...

"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."

[jonQ]

Profit scout, do you have any idea what this 2FA opportunity is worth in terms of revenue dollars?

Over the years, BioKey has announced great number of significant top tier companies to work with. The big problem is we never know what kind of revenues are really available. If I were to list all of the partnerships and opportunities at Fio key is announced over the years, the list would be staggering. Problem still remains revenues.

[jonQ]

What kind of revenue can we expect to see from this opportunity with 2FA? Any sense some specific timing?