WALL, N.J., Oct. 25, 2018 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI), an innovative provider of biometric authentication and security solutions, today announced that it will debut its fingerprint biometric and Bluetooth-enabled bicycle lock – TouchLock Bike – in the U.S. via Amazon.com before being made available through broader retail distribution.
TouchLock Bike was created in response to the growing need for robust yet convenient security options for bikes. According to World Bank estimates, there are over two billion bicycles around the world today. With population increases plus the advent of electric-assist and e-bikes, by 2050 bicycles and e-bikes could reach five billion. Unfortunately, theft is a prevalent problem plaguing bike owners worldwide.
TouchLock Bike is offered in three versions; fingerprint (FP); Bluetooth only (BT); and fingerprint plus Bluetooth (Pro). Each version is durable, weather resistant, and sharable amongst friends and family.
TouchLock Bike extends BIO-keys TouchLock series of designer locks, padlocks and TSA-approved travel locks, all of which are available through Amazon, Best Buy and other partners and retailers.
TouchLock BT (Bluetooth) allows users to unlock their bike using facial recognition, a fingerprint, or a PIN number by using the TouchLock app on their smartphone.
Mike DePasquale, Chairman and CEO, BIO-key, commented, “BIO-key’s TouchLock Bike locks are sturdy, intelligent and easy to use, leveraging the security and convenience of our biometric technology as well as Bluetooth communications. The user-friendly nature of our TouchLock Bike series makes it more likely that owners will lock their bikes at every opportunity, and by removing keys and combinations that can be lost or forgotten, we believe TouchLock provides greater protection against theft. Further, the flexibility of our solution enables users to enroll friends, colleagues and family for convenient TouchLock access wherever your bicycle may be.”
"The U.S. launch of our TouchLock Bike padlock line via Amazon builds upon the excitement and sales momentum we have already initiated in Asia. We are excited to extend the reach of this product into the U.S. where we are optimistic about the sales prospects for the upcoming holiday season,” added Mr. DePasquale.
About BIO-key International, Inc. (www.bio-key.com)
BIO-key is revolutionizing authentication with biometric solutions that enable convenient and secure access to information and high-stakes transactions. We offer alternatives to passwords, PINs, tokens, and cards to make it easy for enterprises and consumers to secure their devices as well as information in the cloud. Our premium finger scanning devices offer market-leading quality, performance and price. BIO-key also brings the power and ease of use of biometric technology to its TouchLock line of biometric and Bluetooth enabled padlocks – providing even more ways to BIO-key your world!
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, without limitation, our ability to develop new products and evolve existing ones, customer and market acceptance of biometric solutions generally and our specific offerings, our ability to expand sales within existing customer relationships, our ability to raise additional capital, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made.
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Investor & Media Contacts
William Jones, Tanya Kamatu
Catalyst Global
212-924-9800
bkyi@catalyst-ir.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/89c27687-6ffa-414f-8395-52d514f4ec9c