Benzinga | Mar 23, 2021 08:02AM EDT

BIO-Key Says Begins Biometric Technology Deployments For Large-Scale ID Projects In Africa; Sees Q1 2021 Revs $500K

BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider of identity and access management (IAM) solutions powered by biometrics, today confirmed that starting this month it began shipping biometric hardware and software in support of its large-scale civil ID, e-commerce and financial inclusion initiatives in Nigeria. Based on current product availability, the first shipment, which will be completed by the end of the month, is valued at approximately $500K.



The initial shipments reflect progress toward the normalization of business activity in Nigeria and the launch of its large-scale ID projects providing secure identity management solutions across the country. The project contracts were secured by BIO-key's African subsidiary in March 2020 but their initiation has been delayed until now due to the global COVID-19 pandemic as well as earlier civil unrest and protests in Nigeria.

Michael W. DePasquale, BIO-key Chairman and CEO, stated, "We are very excited to initiate commercial hardware and software deployments in support of our initiatives in Nigeria. Last quarter we secured initial purchase orders and now payments to begin the first phase of technology deployments, principally fingerprint biometric scanners. We expect deliveries to increase each quarter and are working to firm up deployment plans and product delivery schedules for the remainder of 2021 and beyond."

Akintunde Carlton Jeje, Managing Director, BIO-key - Africa commented, "We are excited to begin the supply of our technology required to commence operations of these African contracts. Though they impacted commencement of our projects, we fully support the decisive steps taken by the Nigerian Federal Government to protect its citizens from the impact of COVID-19. We also welcome their great support of programs to bring much-needed economic empowerment to the country's youth. Opportunities for economic development and financial inclusion, to be created by e-commerce and fin-tech solutions supported by BIO-key's hardware and software, could not be more welcome for the new world of possibilities we are helping to bring to people at this time."

About BIO-key International, Inc. (www.bio-key.com)

BIO-key is revolutionizing authentication with biometric centric, multi-factor identity and access management (IAM) solutions, including its PortalGuard IAM solution, that provide convenient and secure access to devices, information, applications and high-value transactions. BIO-key's proprietary software and hardware solutions, with industry leading biometric capabilities, enable large-scale on-premise and Identity-as-a-Service (IDaaS) solutions as well as customized enterprise and cloud solutions.