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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.
Our security solutions provide unparalleled security and convenience and address the four key areas of security
Protection: Bio-key's security systems authorize only those users who can be positively identified via their fingerprint alone. Our solutions do not need user IDs, passwords, smart cards or any additional information that is susceptible to loss or theft.
Privacy: Our fingerprint identification algorithm converts fingerprint images into a mathematical model that cannot be decoded to obtain the fingerprint image.
Growth: The speed and convenience of BIO-key's solutions foster the growth of virtually any enterprise or e-commerce application
Flexibility: Our solutions are designed to operate over any mix of network and system infrastructures
BIO-key International Inc. a New Jersey based company, was formed in 1993 and became a publicly traded company in 1997. In March 2004, BIO-key acquired Public Safety Group and in September 2004 BIO-key acquired Aether System's Mobile Government Division. As a result of these acquisitions, BIO-key became the premier supplier in North America of mobile wireless technology for first responders.
In November of 2009, BIO-key sold the Law Enforcement Division to InterAct Public Safety Systems. The total purchase price paid to BIO-key for the Law Enforcement Division, after customary closing adjustments were made, was approximately $11.3 million. As a result of this sale, entering 2010 BIO-key is net debt free and focused with what we believe is the world's most accurate and scalable finger biometric technology. As the biometric market finally begins to emerge, we believe our long and sustained investment in technology, our premier biometric customers and our licensing and reseller business model provide us with the opportunity to be a high-margin growth business.
