news

NW_20001005_en_LocalBusiness.com Chicago, October 5, 2000_ "VASCO Enhances Signature Product"

News Release
|   October 5, 2000

OAKBROOK TERRACE, Ill., Oct. 5 (LocalBusiness.com) -- Vasco Data Security International Inc. (Nasdaq: VDSI), has announced the release of a software enhancement to its signature product, to help control access to company information.

The software, used in combination with Vasco's Digipass authentication software, gives access to business data to anyone within an organization while at the same time ensuring only authorized people have access to the company's confidential records.

Jan Valcke, general manager for Vasco's Digipass family of authentication and digital signature products, said he expects the new SnareWorks SecureServer 2.0 software to make an immediate contribution to his company's sales growth.

Vasco (Nasdaq:VDSI) links mainframes to the Internet with security applications. John Hancock, ABN AMRO, Shell, 3M, Ericsson, Rabobank, Nokia, DaimlerChrysler and Volvo are among its customers.

Last week, Vasco was awarded a six-year, $7.3 million contract from the U.S. Military Health System to protect the privacy of patient medical records. When complete, Vasco will have created a network linking more than 60 different clinical information systems of various military medical facilities.

In early September Vasco acquired Sunnyvale, Calif.-based Invincible Data Systems, a security products company, gaining Arab Bank of Jordan as a client. Arab Bank is using a Vasco application to secure an Internet banking function.

The company also garnered a security contract with Jerusalem-based Arab Bank to guard its Internet transactions. The Arab Bank has more than $25 billion in assets. The Belgian Internet security firm, Ubizen, invested $15 million in Vasco on July 20.

Vasco's revenue for the second quarter ended June 30 was $6.5 million compared with $5.3 million for the same period a year ago.

Citing weak market conditions, the company withdrew a European initial public offering on Easdaq, as well as an IPO in the United States back in April.