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Wyoming Department of Education Chooses BIO-key PortalGuard IDaaS Platform to Secure Identity and Access Management for Critical Systems and Data

1. BIO-key secured a contract with Wyoming's Department of Education for PortalGuard IDaaS. 2. PortalGuard enhances security through Multi-Factor Authentication and Single Sign-On features. 3. Expected benefits include a tailored user experience and reduced IT support costs. 4. BIO-key's cybersecurity solutions target over 40 million users across various sectors.

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Why Bullish?

The contract with WDE demonstrates strong market demand for IAM solutions, potentially boosting BKYI's stock.

How important is it?

This contract signifies impending revenue and growth opportunity in educational sectors for BKYI.

Why Short Term?

Immediate contract wins like this one can influence BKYI’s revenue quickly.

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WYDE
HOLMDEL, N.J., Jan. 27, 2025 (GLOBE NEWSWIRE) -- BIO-key® International, Inc. (NASDAQ: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) software for phoneless, tokenless, passwordless, and phishing-resistant authentication experiences, announced today that the State of Wyoming Department of Education (WDE) has awarded BIO-key a contract to implement its PortalGuard IDaaS platform for up to 20,000 staff members. This solution will enhance the WDE’s security posture and improve the user experience by providing both Multi-Factor Authentication (MFA) and Single Sign-On (SSO) access to digital resources and applications. The agency sought a comprehensive IAM solution to address challenges with managing multiple account credentials per user, and reducing IT Support costs, particularly for password resets. The PortalGuard deployment will also allow for advanced MFA options to improve the phish-resistance and resiliency of their systems against cyberattacks. PortalGuard’s SSO feature will streamline user access by allowing users to sign into multiple applications with just one set of strong credentials. PortalGuard’s strong MFA adds an extra layer of protection to guard against phishing and unauthorized access. PortalGuard’s customizable Account Dashboard gives users a centralized interface to manage their authentication preferences and authenticators, and its Application Launchpad will provide one-click access all WDE digital resources and web applications, including cloud storage services like Google Drive and Microsoft OneDrive, to allow seamless file access from a desktop, laptop, tablet, or smartphone. Additionally, PortalGuard’s customizable Administrator Dashboard gives IT teams greater control, visibility and reporting of user access patterns helping to manage security with ease. With PortalGuard IDaaS, our clients can continue to make improvements to their overall security posture. Expected additional benefits include a superior tailored user experience, and streamlined access procedures and compliance, a reduction in IT support calls and password reset requests leading to lower operational costs. “We are thrilled to partner with the WDE to help them overcome critical challenges in security and user access management,” said Mark Cochran, President of BIO-key’s PortalGuard division. “PortalGuard IDaaS was designed to deliver strong enterprise security while enhancing the end user experience. We are confident it will deliver significant value to the WDE as it has for hundreds of governmental, educational and commercial entities.” About BIO-key International, Inc. (www.BIO-key.com) BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its cloud-hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions. BIO-key Safe Harbor Statement All statements contained in this press release other than statements of historical facts are "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 not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements, whether as a result of new information, future events, or otherwise. Engage with BIO-key Facebook – Corporate:https://www.facebook.com/BIOkeyInternational/LinkedIn – Corporate:https://www.linkedin.com/company/bio-key-internationalTwitter – Corporate:@BIOkeyIntlTwitter – Investors: @BIO_keyIRStockTwits: BIO_keyIR   Investor ContactsWilliam Jones, David CollinsCatalyst IRBKYI@catalyst-ir.com or 212-924-9800

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