BIO-key Client Brings in $4 Million Order

“BIO-key says the order is expected to bring in $2.5 million in licensing revenues this quarter, with the rest of the order’s value to come in over the next three years.”

A repeat customer has brought BIO-key a big new contract. BIO-key has announced that it has received a $4 million order for its enterprise fingerprint authentication platform.

In a statement announcing the win, BIO-key declined to name the client in question, referring to it only as “an existing Fortune 500 customer.” BIO-key also said the client will use BIO-key’s biometric authentication technology to secure access to customer records and enterprise assets for “several hundred thousand of the customer’s global personnel.”

Elaborating further, BIO-key CEO Mike DePasquale framed the new contract as a considerable expansion over an initial deployment undertaken last year, asserting, “our customer elected to expand the scope and duration of our relationship into a perpetual software license agreement with software maintenance.”

BIO-key says the order is expected to bring in $2.5 million in licensing revenues this quarter, with the rest of the order’s value to come in over the next three years. News of the order comes on the heels of BIO-key’s announcement last week that CyberCore Technologies will integrate its ID Director for Windows platform into its solutions portfolio.

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December 21, 2017 – by Alex Perala

Partners

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“BIO-key says the order is expected to bring in $2.5 million in licensing revenues this quarter, with the rest of the order’s value to come in over the next three years.”

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