WALL, N.J., Sept. 21, 2018 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (NASDAQ: BKYI) an innovative provider of biometric software and hardware enterprise solutions and consumer products, announced today the appointment of Frederick “Fred” Corsentino, a talented and proven technology sales executive, as Chief Revenue Officer, a new position at the Company.
Mr. Corsentino will be responsible for refining and focusing BIO-key's business development, sales and integrated marketing functions in order to optimize revenue growth from its strong base of biometric software and hardware solutions. He has decades of sales leadership experience and a strong track record of revenue growth accomplishment, with a particular emphasis on emerging technologies including security.
Mr. Corsentino launched a consulting practice that advises security and information research and technology companies on go-to market strategies to increase sales prospects and drive revenue growth. He also recently served as Chief Revenue Officer at Comodo, a cyber security provider, where he managed the sales team and successfully launched a new line of end point protection and cloud computing security products.
From 2005 to 2007 he led sales at Meru Networks, a Wi-Fi networking company, growing worldwide revenues from $1M to $40M in two years. This sales trajectory helped pave the way to the Company’s IPO and the Company was acquired by Fortinet in 2015.
Previously, Fred led the worldwide sales strategy for Proxim Wireless, a Western Multiplex broadband telecommunication provider. Under his leadership, Western Multiplex revenues grew from $35M to $105M during its first year and the company went public in 2000. He also led the turnaround of a communications networking Products Company, growing sales by 250% to $32M over three years.
Mr. Corsentino commented, "Digital and device security has never been more urgent than it is now and as organizations and consumers turn to biometric technology, I look forward to playing a role in driving broad scale adoption of BIO-key's secure and convenient biometric solutions. I'm excited to leverage my decades of experience in building out new business development strategies and contributing to BIO-key's goal of achieving consistent long-term revenue growth."
BIO-key's Chairman & CEO Michael DePasquale commented, “On behalf of the entire BIO-key team, I wanted to express our sincere gratitude for the contributions of Barbara Rivera who recently resigned as COO, and we wish her all the best in her future endeavors. The progress she made in shaping our direction and operational processes the past two years, has played a significant role in getting us to point where we could fully transition to the top-line focus Fred now brings to the Company.
"He brings deep expertise in managing sales processes to advance revenue opportunities and an impressive track record as a change agent for emerging technology companies like BIO-key. We believe that BIO-key’s product offerings and our reference account base are at the point where we can now fully benefit from his experience and strong skillset to rapidly scale our business.”
Mr. Corsentino earned his B.S. degree in Economics – cum laude from the New York Institute of Technology and an MBA from Columbia University, where he was a member of Beta Gamma Sigma Honor Society for Business School graduates.
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 software-based 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 more ways to BIO-key your world!
BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "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 subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, market acceptance of biometric solutions generally and our specific offerings, our ability to expand into the Asian market, the impact on our business of the recent financial crisis in the global capital markets, negative global economic trends 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