Global IT Services Provider Quantum Business Advisory Partners with BIO-key to Support Growing Demand for Biometric Authentic...
July 17 2018 - 8:01AM
BIO-key International, Inc. (NASDAQ:BKYI), an innovative provider
of biometric authentication and security solutions, today announced
it has forged a strategic partnership with India’s Quantum Business
Advisory (QB Advisory) to bring its software and hardware solutions
to enterprises in India.
Established in 2013, QB Advisory serves the IT
requirements of enterprise customers across all of India from sales
offices in Mumbai and Calcutta and a presence in Delhi and
Hyderabad. QB Advisory focuses on IT infrastructure, software, and
information security and support services across multiple industry
verticals. The company’s largest customer has locations in 60
countries and a staff of more than 300,000 employees.
The strategic partnership enables QB Advisory to
introduce BIO-key's suite of world-class biometric authentication
solutions throughout India, a growing market with significant
potential. By partnering with QB Advisory, BIO-key is now able to
respond to customer demand within India, through a respected,
knowledgeable sales and technical resource.
"BIO-key's products and brand offer a natural
complement to our portfolio of information security solutions,"
stated Saurabh Rateria, Managing Director of QB Advisory. "There's
a heightened focus on security across India, and organizations are
open to investigating proven, scalable and cost-effective solutions
that can strengthen security and protect critical assets."
Rateria added, "There is a particular focus on
internal security and access control, as risk has increased.
Companies now recognize that consumer data is an asset – a very
valuable asset – and it is causing them to reevaluate their
existing security platforms. All of this has contributed to
increased interest in biometric authentication. It's also our
opinion that it won't be long before the government will make
multifactor authentication a mandated requirement; therefore,
adding BIO-key to our product mix makes good business sense."
“India is forward-thinking when it comes to
biometric technology, which has led to a growing number of
inquiries about our solutions from businesses and consumers
throughout the country," stated Mike DePasquale, Chairman &
CEO, BIO-key. "Prior to our relationship with QB Advisory,
BIO-key did not have a physical presence in India, which put us at
a significant disadvantage competing for business. That
changes today, as partnered with QB Advisory, BIO-key now benefits
from the exposure and in-country presence of one of India's leading
IT services providers."
About Quantum Business Advisory
(www.qbadvisory.com) In this world of constant change, QB Advisory
aims to be the IT partner you can turn to for unadulterated advice
and assistance in dealing with technological disruptions requiring
continuous improvement. The company aims to make a measurable
impact on our clients in transforming business processes by
embedding modern information technology. QB Advisory leads with
forward-looking technology and provides solutions in a technology
agnostic manner across software, infrastructure and knowledge
platforms. Our focus areas range from enterprise systems
(especially SAP) through Risk Management, Information Security, Big
Data, IoT, Enterprise Mobility, Knowledge Management, BPM, and
Digital Transformation to the Smart Factory.
About BIO-key International, Inc.
(www.bio-key.com)BIO-key is
revolutionizing authentication with biometric solutions that enable
convenient and secure access to information and high-stakes
transactions. We offer alternatives to passwords, PINs, tokens, and
cards to make it easy for enterprises and consumers to secure their
devices as well as information in the cloud. Our premium finger
scanning devices offer market-leading quality, performance and
price. BIO-key also brings the power and ease of use of biometric
technology to its TouchLock line of biometric and Bluetooth enabled
padlocks – providing even more ways to BIO-key your world!
BIO-key Safe Harbor
StatementAll statements contained in this press release
other than statements of historical facts 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 not guarantees of future
performance or events and are subject to risks and uncertainties
that may cause actual results to differ materially from those
included within or implied by such forward-looking statements.
These risks and uncertainties include, without limitation, our
ability to develop new products and evolve existing ones, customer
and market acceptance of biometric solutions generally and our
specific offerings, our ability to expand sales within existing
customer relationships, our ability to raise additional capital,
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, 2017 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 to reflect events or circumstances after the date
made.
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Investor & Media
ContactsWilliam Jones, Tanya KamatuCatalyst
Global212-924-9800bkyi@catalyst-ir.com
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