SOURCE: BIO-key International, Inc.

BIO-key International, Inc.

April 06, 2015 08:00 ET

BIO-key Enters Into Global ASL Agreement With Avnet

WALL, NJ--(Marketwired - Apr 6, 2015) - BIO-key International, Inc. (OTCQB: BKYI), a leader in fingerprint biometric identification technologies and secure on-device or in-cloud mobile credentialing and identity verification solutions, announced that Avnet (NYSE: AVT), one of the largest distributors of electronic components, IT solutions and embedded technology, has entered into an Application Specific Licensing ("ASL") agreement with BIO-key to integrate IBM middleware into BIO-key software, accelerating sales to customers in countries throughout the Americas, EMEA and Asia Pacific.

Mark Martin, Vice President Outside Sales, Avnet Technology Solutions, IBM Solutions, says, "The Worldwide IBM Application Specific Licensing program will provide our business partners a faster route to market with their solution built on pre-integrated IBM middleware such as Single Sign-On. When solutions such as BIO-key are embedded in IBM Middleware, it eliminates the complexity of two support structures for their customers, while continuing to provide the full resources of IBM Support Services. We look forward to being part of the ASL program and how it will accelerate the sales cycles for our business partners, and provide continued growth."

"BIO-key is enthused about our relationship with Avnet and our native integration with IBM's world-class authentication product portfolio," said Mike DePasquale, Chairman & CEO, BIO-key." Avnet's ASL Program is an IBM channel, administered by Avnet, which is aimed at increasing the revenues and profits from middleware usage for Business Partners who provide value-added solutions and services to their customers," DePasquale continued, "This underscores the strength of our software integration relationships and since we now have executives from Avnet and IBM who are dedicated to our mutual success we believe it will create revenue potential in multiple vertical markets."

About BIO-key®

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)

About Avnet Technology Solutions

As a global IT solutions distributor, Avnet Technology Solutions transforms technology into business solutions for customers around the world. It collaborates with customers and suppliers to create and deliver services, software and hardware solutions that address the changing needs of end-user customers. The group serves customers and suppliers in North America, Latin America and Caribbean, Asia Pacific, and Europe, Middle East and Africa. It generated US $11.0 billion in annual revenue for fiscal year 2014. Avnet Technology Solutions is an operating group of Avnet, Inc. For more information, visit ats.avnet.com.

About Avnet, Inc.

Avnet, Inc. (NYSE: AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers globally. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of customers by providing cost-effective, value-added services and solutions. For the fiscal year ended June 28, 2014, Avnet generated revenue of $27.5 billion. For more information, visit www.avnet.com.

BIO-key Safe Harbor Statement
Certain statements contained in this press release and in other public statements by the Company and Company officers include or may contain certain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words "anticipate," "believe," "estimate," "will," "may," "future," "plan," "intend" and "expect" and similar expressions generally identify forward-looking statements. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Although we believe that our plans, intentions and expectations reflected in the forward-looking statements are reasonable, we cannot be sure that they will be achieved. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: our history of losses and limited revenue; our ability to raise additional capital; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition between us and other companies in the biometric technology industry; market acceptance of biometric products generally and our products under development; delays in the development of products and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. Except as required by law, we undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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