WALL, NJ--(Marketwired - Jul 28, 2014) - BIO-key International, Inc. (
BIO-key eliminates the cost to issue, manage and recover tokens and access cards from a high turnover retail workforce and reduces plastic waste in the environment. NCR is one of the leading providers of retail operations automation technology. The recent purchase, valued at several hundred thousand dollars, validates the impact BIO-key is having at the store level and is part of a series of orders placed during a long and productive relationship. As an OEM of BIO-key software, NCR had previously distributed and deployed over 53,000 BIO-key enabled POS terminals.
"The longstanding relationship with NCR reinforces several elements of BIO-key's reputation in the market, as well as continues to generate significant revenue for the Company," stated Jim Sullivan, VP of Strategy & Business Development, BIO-key. "The expanded utilization demonstrates that BIO-key fingerprint authentication outperforms traditional authentication methods in real-world visible applications; nothing is more mission-critical to a retailer's revenue than the POS. Additionally, sophisticated buyers of biometric technology clearly recognize the benefit of investing in our reliable, high quality and interoperable fingerprint solutions. Our advanced and visionary approach to sensor independent fingerprint technology allowed NCR and its customers to evolve through three different fingerprint scanner suppliers since our relationship began. BIO-key technology makes the identity and authentication life-cycle easier and less expensive to manage; we expect to deliver continued success and to receive additional orders over time."
About BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions to commercial and government enterprises, integrators, and custom application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are used in local embedded OEM products as well as some of the world's largest identification deployments to improve security, guarantee identity, and help reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world. (http://www.bio-key.com)
BIO-key Safe Harbor Statement
Certain statements contained in this press release are "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, wider market acceptance of biometric technologies, our ability to raise additional financing, and 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, 2013 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 undertakes no obligation to disclose any revision to these forward-looking statements whether to reflect events or circumstances after the date hereof or otherwise.
Investor & Media Contact:
BIO-key International, Inc.
Contact:
Jay Meier
Vice President Corporate Development
Phone: 651-789-6116
Email: Jay.meier@bio-key.com
