Aware is looking to grow its business through a new strategic partnership with MIRACL. The partnership will start out as a mutual reseller arrangement, though Aware suggested that the deal will eventually pave the way for the joint development of new products.
In that regard, Aware has already invested $2.5 million in loan stock from Omlis Limited, which is MIRACL’s parent company. MIRACL itself is a developer of streamlined authentication software that delivers multi-factor authentication with a single identity verification step. Aware, meanwhile, is best known for its portfolio of biometric authentication solutions.
Under the terms of the new arrangement, MIRACL and Aware can each market the other’s products to their client networks, and integrate those products with the solutions in their own portfolios. Aware expressed particular interest in MIRACL’s risk management capabilities, and indicated that MIRACL’s flexible software will make it easier for clients to integrate Aware’s authentication solutions into their existing security infrastructure.
MIRACL, on the other hand, will now be able to offer secure biometric authentication to its customers. The arrangement increases the number of passwordless authentication options in MIRACL’s portfolio, and should help mitigate the threat of ransomware and data breaches.
“With MFA that incorporates biometrics, organizations can now have unprecedented protection and user privacy without the risks or frustrations of other approaches,” said Aware President and CEO Bob Eckel. “This technology we now have available is an important and effective tool against these sorts of attacks.”
“Ransomware attacks have increased more than 150 percent between the first six months of 2021 compared to the same period the previous year,” added MIRACL CEO Rob Griffin. “We expect the market to be very receptive to the addition of Aware biometrics to our authentication offerings and look forward to a strong and mutually beneficial partnership.”
Aware recently acquired Fortress Identity, and revealed that its annual revenues were up 49 percent in its 2021 year-end report. The company’s Knomi authentication solution is the recipient of a BIG Innovation Award. It also hinted that a new solution is in the works during an appearance at MWC Barcelona.
March 21, 2022 – by Eric Weiss