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• The company’s products will be included in more than 250 government organizations.
• The partnership launches a new business line focused on Portuguese municipal councils.
• The partnership also includes the deployment of BIO-key’s technologies in a major tourist city.

Shares of BIO-key International, Inc. (BKYI) shot up more than 70% in pre-market trading on Wednesday after the company announced a strategic partnership with Visualforma, a Portuguese IT solutions firm, to expand advanced identity and access management across Portugal’s public sector.

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The partnership launches a new business line for the company, focused on Portuguese municipal councils to improve cybersecurity and expand access to digital public services.

Terms Of The Agreement

Under the agreement, Visualforma will help with the rollout of BIO-key’s Identity and Access Management (IAM) and biometric authentication solutions across Portugal’s public-sector ecosystem, which includes more than 250 government organizations. A structured deployment framework is already in place to secure access to critical digital services, enhance cybersecurity controls, and support regulatory compliance across municipalities, schools, and healthcare institutions.

The partnership also includes the deployment of BIO-key’s technologies in a major tourist hub, where the solution is already operational. BIO-key has already operationalized its full IAM and biometric portfolio in select municipal environments.

“Our platform also supports secure identity verification through integration with the Portuguese Cartão de Cidadão and alignment with eIDAS-compliant electronic identification frameworks, strengthening trust, regulatory compliance, and seamless access to digital public services,” said Alex Rocha, Managing Director, BIO-key International.

BIO-key, a cybersecurity firm offering cloud-based, IAM and biometric authentication solutions, has similar partnerships across Vietnam, Denmark, Sweden, Norway, Finland, and certain countries in the Middle East and Africa.

Retail Reaction

Retail sentiment shifted for BKYI to ‘extremely bullish’ from ‘bullish’ a day earlier, amid ‘extremely high’ message volumes.

One user believes that the company is a ‘perfect candidate for acquisition.’

Another user said the ‘huge’ contract could boost the stock price to $4. It is currently at around $0.9.

Over the past year, the stock has shed over 60%.

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