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Investing.com -- BIO-Key International, Inc. (NASDAQ:BKYI) stock jumped 9.7% in premarket trading Wednesday after the identity and access management solutions provider announced a strategic partnership with VaporVM, a Dubai-based cloud and cybersecurity services company.
The collaboration aims to expand BIO-Key’s market reach across the Middle East and Africa by combining its identity authentication solutions with VaporVM’s regional expertise and customer base. Under the agreement, VaporVM will integrate and promote BIO-Key’s complete portfolio of Identity and Access Management (IAM) and biometric solutions, including its PortalGuard platform.
BIO-Key will provide VaporVM with its suite of security products, including the PortalGuard IAM platform, Passkey:YOU passwordless solution, PIN:You authentication method, and various biometric authentication tools. VaporVM will offer local technical support, partner enablement, and deployment services for these technologies.
"The collaboration combines Vapor VM’s cloud-native expertise with BIO-key’s award-winning IAM platform, PortalGuard, and biometric authentication solutions," said Fadi Alotaibi, Regional Channel Manager at VaporVM.
Nicholas Prinz, Regional Director of Middle East & Africa at BIO-key International, described the partnership as "an exciting evolution in our regional strategy that builds on recent regional successes."
The companies will focus on delivering secure digital transformation solutions for organizations operating across major cloud platforms including AWS, Azure, and Google Cloud Platform.
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