NW_20020716_VASCO’s revenue in the Corporate Access Market
OAKBROOK TERRACE, Ill., BRUSSELS, Belgium, July 16, 2002 – VASCO Data Security International, Inc. (Nasdaq NM and Nasdaq Europe: VDSI: www.vasco.com ), a global provider of enterprise-wide security products that support e-business and e-commerce, today announced that its revenue in the corporate network environment has increased 150% during the first half of the year 2002 as compared with the annualised rate of the fourth quarter of 2001. VASCO states that this growth is based on two factors. First, its worldwide Channel Partner Network, which was initiated in 2001, is gaining momentum and is focused on corporate networking environments. Secondly, the combination VACMAN Server/Digipass is being accepted by a fast growing number of SME’s as a very cost effective, easy to implement and efficient tool to allow their employees and customers to have remote access to the companies’ network in a secure way.
During the first half of 2002, VASCO has signed over 50 new resellers and has given product- and market training to over 400 IT professionals worldwide. Since VASCO's refocus on its indirect sales channel beginning in the fourth quarter of 2001, sales of its VACMAN Server products with Digipass into the corporate access market have increased sequentially by 60%, and 114% over the last 2 quarters. VASCO's sales into this market represented approximately 25% of its total revenues in the second quarter of 2002. At this moment, VASCO has over 120 active resellers worldwide dedicated to the corporate networking market with a total of over 1000 IT professionals trained by VASCO. Last week, VASCO announced that the influential Middle-Eastern group STS/BUSINESSONE has joined its impressive list of channel partners .
“We can fairly state that our investments to develop a performing reseller network are paying off,” stated Jan Valcke, VASCO’s Executive Vice President of Sales and Marketing. “ The current success of the VACMAN Server/Digipass combination in the corporate networking area is, in addition to the intrinsic qualities of the products, due to the fact that our resellers know very thoroughly their home markets and VASCO’s product offerings. We are convinced that, despite the demanding market conditions, the corporate networking market will prove to be a strong, profitable, long term source of revenue for VASCO next to our traditional banking customers.”
VASCO secures the enterprise from the mainframe to the Internet with infrastructure solutions that enable secure e-business and e-commerce, protect sensitive information, and safeguard the identity of users. The Company's family of Digipass® and VACMAN® products offers end-to-end security through strong authentication, digital signature, network Single Sign-On, and Radius, LAN and Web security, while sharply reducing the time and effort required to deploy and manage security. VASCO's customers include hundreds of financial institutions, blue-chip corporations, and government agencies in more than 50 countries. More information is available at www.vasco.com.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “believes,” “anticipates,” “plans,” “expects,” and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
Reference is made to the Company's public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.
For more information contact:
VASCO Data Security:
Jochem Binst, +32 2 456 9810, [email protected]