BIO-key International, a provider of wireless public safety and finger-based biometric identification solutions, announced a majority of its shareholders at a Special Shareholder Meeting approved the sale of the company's Law Enforcement Division to Interact911 Mobile Systems. Of the shares voted, 98.6 percent were cast in favor and 1.2 percent were opposed.
BIO-key expects to close the sale transaction with Interact911 Mobile Systems by the end of December.
Mike DePasquale, BIO-key's CEO said, “We are thrilled with the overwhelming support we have received from our shareholders for our vision, strategy and future. As we enter a new year, we will be a new company - net debt free and focused with what we believe is the world's most accurate and scalable finger biometric technology. As the biometric market finally begins to emerge, we believe our long and sustained investment in technology, our premier biometric customers and our licensing and reseller business model provide us with the opportunity to be a high-margin growth business.”