WALL, NJ--(Marketwired - Jan 30, 2014) - BIO-key International, Inc. (OTCQB: BKYI), a global leader in fingerprint biometric identification solutions, advanced mobile authentication and identity assurance technologies, today announced that it has added three new Director's to its Board and Michael DePasquale has been appointed Chairman, effective January 29, 2014.
"As we position BIO-key for the next phase of growth and development, we feel it is important to expand the scope of our Board of Directors," stated Mike DePasquale, BIO-key Chairman and CEO. "These three new Directors have ideal experiences and talents to help guide and promote BIO-key through this very exciting time. We are proud and fortunate to have such deep and influential resources supporting the Company."
Barbara Rivera is President & General Manager of Experian Corporations U.S. Public Sector Division. Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Barbara previously worked with firms including IBM, SAP and Oracle and also formed alliances with system integrators and consulting organizations that work in the public sector. Barbara has an impressive 20-year track record of developing and managing business with key federal, state and local organizations such as the Defense Department, the Department of Justice, the Department of Education, New York City and State as well as the Centers for Medicare and Medicaid Services.
Thomas E. Bush, III, served with the Federal Bureau of Investigation for over 33 years. Bush joined the FBI on September 8, 1975. Early in his FBI career, he worked in the Identification Division (now the Criminal Justice Information Services Division) and Information Resources Division. During his 33 year career as a Special Agent he rose through the ranks of the FBI ultimately becoming the Director of the CJIS division. During Bush's tenure with the CJIS division he was responsible for the day to day operation of the largest division of the FBI, with over 2,500 employees and a budget of approximately one billion dollars. Known for providing critical services in support of the criminal justice community, two significant IT projects, Next Generation Identification and N-Dex, were awarded by CJIS with early increments delivered during his tenure. He was the recipient of many awards during his tenure, most notably a Presidential Rank Award for Meritorious Service in 2007.
Mr. Thomas Gilley is an entrepreneur, hands on technologist and innovator in the area of mobile technologies, digital media, internet of things and social computing. Gilley gained corporate product management experience at Apple Computer, as an Engineer and R&D manager in the Advance Technology Group. Before and after Apple, Gilley founded several successful companies, including Meeting Technologies, a social computing company; FutureTel, the first MPEG video broadcast equipment provider, MPEG2, a chip company, and PicoStar, an incubator-technology investment company. While at PicoStar, Gilley was the founding CTO for Cobalt Networks which subsequently was acquired by Sun Microsystems for two billion dollars. Mr. Gilley serves as an advisor for the New Jersey Institute of Technology, a public Research University, and InterDigital Communications, developers of wireless technologies for mobile devices and networks. Gilley also served as a strategic advisor for Compass Advisers, providing guidance for mergers, acquisitions and investments for public companies and private equity firms in the areas of security systems, enterprise software, and media, mobile and wireless. Most recently, Gilley sold his on-demand web media company to Vignette and acted as CTO throughout the transaction and through the company's ultimate acquisition by OpenText.
Mr. Tom Colatosti has retired, along with Mr. Jeffrey May. "We owe Tom and Jeff a great debt of gratitude and thanks for their guidance and support as they have been instrumental in BIO-key's strategic development and successes over the last twelve years. Well capitalized, with new Sales and Board leadership, I believe BIO-key is better positioned today than at any time in its past and we are very excited about the opportunities ahead," continued DePasquale.
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)
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, wider market acceptance of biometric technologies, our ability to raise additional financing, 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, 2012 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 whether to reflect events or circumstances after the date hereof or otherwise.