WALL, N.J., Aug. 5 /PRNewswire-FirstCall/ -- BIO-key International, Inc. (OTC Bulletin Board: BKYI), a leader in finger-based biometric identification solutions announced the award of another contract for a fingerprint biometric identity solution built on the fusion of BIO-key and MorphoTrak algorithms. The first contract for this fused solution, awarded to MorphoTrak (a Morpho company) by Lockheed Martin in September 2009, provides fingerprint identification technology for the FBI's Next Generation Identification (NGI) system. This new contract will provide large scale advanced finger matching technology to an overseas customer.
"The selection of BIO-key technology for another large-scale fingerprint identity system is further validation of BIO-key's position as one of the premier suppliers of the industry's most accurate and scalable fingerprint matching technology," said Mike DePasquale, BIO-key's CEO. "As I predicted when we announced the first contract awarded for this fused solution, other agencies and commercial customers, looking to take advantage of the research, testing and decision by the FBI may reasonably conclude: 'If it is good enough for the FBI, it's certainly good enough for our organization.'"
Daniel Vassy, CEO of MorphoTrak, added: "We are very pleased to once again have an opportunity to deploy this fused fingerprint biometric ID solution to meet the needs for a large-scale identity program. This additional contract enhances our position as the leading provider of fingerprint identification systems, supplying law enforcement and civil identification systems to numerous local and Federal government agencies worldwide."
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)
MorphoTrak, Inc., a subsidiary of Safran USA, provides biometric and identity management solutions to the U.S. and Canadian markets. Formed in April 2009 from the merger of Sagem Morpho Inc. and Motorola's biometric division, Printrak, MorphoTrak's markets include law enforcement, border control, civil identification, facility/IT security and access control. MorphoTrak and its global parent Morpho - part of the Safran group - are leading innovators in large fingerprint identification systems, facial and iris recognition, as well as identification licenses. MorphoTrak employs over 450 persons in the U.S., with headquarters near Washington D.C., major corporate facilities in Anaheim, CA and Tacoma, WA, and regional facilities throughout the U.S. For more information, please visit www.morphotrak.com or call 1.800.601.6790.
BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "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, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, 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, 2009 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 also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
© Copyright 2010 by BIO-key International, Inc.
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