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Investing.com -- BIO-Key International Inc (NASDAQ:BKYI) stock surged 47% in premarket trading Friday after the company announced it secured a significant new deployment contract with a major defense-sector security organization in the Middle East.
The identity and access management solutions provider described the contract as "one of BIO-key’s largest security-sector deployments in the region to date." The customer, which requested anonymity for security reasons, selected BIO-key to strengthen access security using the company’s biometric and multi-factor authentication technologies.
This new business emerged from BIO-key’s strategic partnership with Cloud Distribution, a Saudi-based Value-Added Distributor. The collaboration has accelerated BIO-key’s regional opportunities by combining its identity and access management solutions with local cybersecurity expertise.
"This deployment reinforces BIO-key’s strategic commitment to supporting national security and critical infrastructure protection in the Middle East," said Alex Rocha, Managing Director International at BIO-key. The company’s Identity-Bound Biometric solutions will be implemented in critical infrastructure and sensitive access environments.
The deployment extends BIO-key’s growing presence in high-assurance government and defense environments, particularly in the Middle East region where cybersecurity concerns continue to escalate.
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