BIO-key International, Inc. (NASDAQ:BKYI) shares soared 180% in premarket trading Monday after the biometric authentication company announced a new partnership with IT2Trust, a leading distributor of IT security solutions in Scandinavia.
The agreement marks a major step in BIO-key’s European expansion, granting IT2Trust the rights to distribute its Identity and Access Management (IAM) solutions across Denmark, Sweden, Norway, and Finland. The collaboration will emphasize delivering GDPR-compliant identity protection tools to both enterprises and the public sector in the region.
Under the deal, IT2Trust will distribute BIO-key’s full product suite, including the PortalGuard IAM platform, the Passkey:YOU passwordless solution, and a range of biometric authentication technologies.
“This collaboration with IT2Trust is opening doors across the Nordics. Their trusted distribution and on-the-ground guidance, paired with BIO-key’s technology, are exactly what government teams are asking for,” said Ana Marques, Territory Sales Director at BIO-key International.
Anders Enemark Mortensen, Founder & Marketing Director at IT2Trust, added that “BIO-key’s proven identity and access management solutions perfectly complement our mission to deliver secure and innovative technologies to the Nordic market.”
The partnership supports BIO-key’s broader strategy to strengthen its footprint in Europe. By expanding into the Nordic region, the company aims to help organizations enhance identity security, meet regulatory standards, and advance their secure digital transformation efforts.