Exhibit 99.1
CONTACT
Company Contact
Gina Rodrigues
Aware, Inc.
781-276-4000
grodrigues@aware.com
Aware’s Strategic Partnership with MIRACL Extends Its Cloud-Based Biometric Authentication Technology
$2.5M Investment and MIRACL Partnership Broadens Aware’s Product Portfolio Enabling Organizations to Minimize Risk from Data Breaches, Ransomware
BEDFORD, MASS. – March 15, 2022– Aware, Inc., (NASDAQ: AWRE), a leading authentication company applying proven and trusted adaptive authentication to solve everyday business challenges with biometrics, today announced it has entered into a partnership with MIRACL, a cybersecurity software company specializing in single-step, secure multi-factor authentication. Aware expects this partnership to enable it to extend its cloud-based biometric authentication technology to protect against data breaches and ransomware, which are continuing challenges in many industries, including financial services. This partnership further cements the value Aware is bringing to the financial services market, as demonstrated by its recent acquisition of Fortress Identity. Concurrently with entry into the partnership, Aware also made a $2.5 million strategic investment in loan stock issued by Omlis limited, the parent company of MIRACL.
“Data breaches and ransomware are continuing to wreak havoc on enterprises, and recent high-profile attacks like the Colonial Pipeline are reminders of the escalating threats we continue to face,” says Bob Eckel, chief executive officer and president of Aware. “In many cases, government agencies are calling on organizations to pursue multifactor authentication (MFA) to enhance their security. To date, many defenses against cybercrimes have relied on zero knowledge trust, which has several disadvantages; or traditional passwords, which are prone to login errors and irritating reset requirements. With MFA that incorporates biometrics, organizations can now have unprecedented protection and user privacy without the risks or frustrations of other approaches. This technology we now have available is an important and effective tool against these sorts of attacks.”
The partnership is a through mutual reseller arrangement whereby each company can both sell each other’s products and integrate them within their own product lines, quickly bringing to market password-free login paradigms delivering superior security and simplicity for users. For Aware, adding MIRACL’s risk management functionality to its solutions portfolio delivers greater value to customers, and increases the number and variety of Aware’s easily integrated cloud and SaaS-based “adaptive authentication” services to best fit its customers’ needs and flexibility requirements. The partnership also lays the groundwork for future joint product development.
For MIRACL, the partnership adds affordable, high performing, and proven competitive biometrics to its technology to combat the rising threats of data breaches and ransomware. This will enable the company to provide a more extensive range of authentication capabilities to customers, in addition to its MIRACL Trust® solution.
