BIO-key International, Inc. (Nasdaq: BKYI), an innovative provider of biometric software and hardware solutions for strong, convenient user authentication and large scale identity announced today that it has secured a $30 million contract for its biometric authentication platform through its partner Technology Transfer Institute of Africa (TTI) and the Company’s newly created subsidiary based in Africa. The solutions, based on BIO-key’s WEB-key biometric security platform, will facilitate the enrollment of users and the positive identification of individuals for a telecommunications company in Nigeria, working in conjunction with its Nigerian identity supply partner, Chams PLC.
“Recognizing the opportunity to bring cost-effective solutions to the African market, over the past six months, BIO-key opened a subsidiary in Africa and began actively pursuing several opportunities,” stated Mike DePasquale, Chairman & CEO of BIO-key. “Today’s announcement represents a major step in addressing the extensive and growing opportunity for large-scale identification, enterprise and consumer security in one of the largest and fastest growing economic regions of the world. Nigeria’s population is estimated at over 206 million, making it the seventh most populous country globally,” De Pasquale continued.
Gavin Young, Group Managing Director, Chams PLC stated, “We are very excited to be working with BIO-key to provide their innovative and flexible identity solutions in Nigeria. As a leading identity solutions company in Nigeria, we understand the importance of a partnership with BIO-key to drive identification and e-Verification in Nigeria, and throughout Africa. Nigeria presents significant, untapped market potential for identity solutions and we look forward to expanding our partnership with BIO-key.”