BIO-key has extended its business relationship with one of its high-profile clients. The company has announced that it has inked a $1.2 million follow-up order with a major telecommunications company.
The three-year contract retains BIO-key support services for its enterprise-focused biometric security platform, which revolves around fingerprint-based authentication. In a statement announcing the deal, BIO-key did not name the new client, but described it as a “Fortune 500 telecommunications industry customers”, adding that BIO-key’s solution is protecting online assets used by “several hundred thousand of the customer’s global personnel and supply chain partners.”
“We are delighted by this high-profile customer’s renewed commitment to our biometric solutions, demonstrated by their support services contract extension,” said BIO-key’s SVP Jim Sullivan. “It confirms the competitive benefits, scalability and value of our biometric solutions for large enterprise customers, where a one-size-fits-all token or phone solution does not provide sufficient security to meet many customers’ needs.”
The contract offers some indication of the continuing importance of BIO-key’s fingerprint-based solutions even as much of the company’s new business is being drive by the PortalGuard single sign-on solution it acquired last year. In its most recent fiscal update, BIO-key reported a major jump in revenues for 2020, thanks in large part to PortalGuard’s market success.
Also on the biometrics front, BIO-key recently sent its first shipment of fingerprint sensors and software for major contracts secured with clients in Nigeria last year.
The contract extension with BIO-key’s Fortune 500 telecommunications client should help to further boost sentiment at the company after it made the shortlist for the SC Media 2021 Trust Award last month.
April 5, 2021 – by Alex Perala