Bio-key to significantly expand customer reach and talent in emea region via definitive agreement to acquire authentication solutions provider swivel secure europe

Wall, n.j., feb. 03, 2022 (globe newswire) -- bio-key international, inc. (nasdaq: bkyi), an innovative provider of workforce and customer identity and access management (iam) and identity-bound biometric (ibb) solutions, today announced that it has signed a definitive agreement to acquire swivel secure europe, s.a (sse), a privately-held iam solutions provider based in madrid, spain serving the european, middle east and african (emea) markets. the transaction is expected to close in february and be accretive to bio-key's earnings, excluding one-time acquisition-related costs and ongoing purchase accounting amortization expenses. on a preliminary unaudited basis, sse generated over $3.1m in revenue and $578k in operating income in fiscal/calendar 2021.
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