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BIO-key enters into application specific licensing deal with Avnet

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BIO-key International (OTCMKTS:BKYI), a provider of fingerprint biometric identification technologies, said it has entered into an Application Specific Licensing (ASL) deal with Avnet (NYSE:AVT), one of the largest distributors of electronic components.

Phoenix, Arizona-based Avnet will integrate IBM middleware into BIO-key software, accelerating sales to customers in countries throughout the Americas, EMEA and Asia Pacific, the Wall Township, New Jersey-based company said in a statement today.

“This underscores the strength of our software integration relationships,” Mike DePasquale, BIO-key’s chief executive officer, said in the statement. “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.”

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.

“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," said Mark Martin, Vice president outside sales, Avnet Technology Solutions, IBM Solutions."

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.

Shares of Avnet inched up 0.4 percent to $43.93 at 9:50 a.m. in New York. The stock is up 1.9 percent so far this year.

 

 

 

Quick facts: Avnet

Price: 29.2 USD

NYSE:AVT
Market: NYSE
Market Cap: $2.88 billion
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