NW_20030225_en_CoStar selects VASCO to provide strong authentication for CoStar Property
OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium – February 25, 2003 – VASCO Data Security International (NASDAQ: VDSI : www.vasco.com ), a global provider of end-to-end security products that support e-business, today announced that CoStar Group, (NASDAQ: CSGP: www.costar.com ), the leading provider of information services to the U.S. commercial real estate industry, released the first Web-based version of CoStar Property integrated with VASCO Digipass authentication.
CoStar Property, the company's flagship service, provides commercial real estate brokers, property owners, lenders, developers and managers with a comprehensive inventory of office and industrial properties in 50 U.S. markets. An estimated 40,000 commercial real estate professionals use CoStar Property. CoStar customers will use VASCO’s Digipass Go1 to authenticate prior to accessing CoStar’s data and services.
“VASCO’s worldwide penetration of the e-commerce market is becoming more and more important,” said Jan Valcke, VASCO’s President and COO. “Companies worldwide realize that their customers need a high level of security and cannot compromise the flexibility needed to gain access to information from any location. VASCO’s products provide exactly that service. By adding COSTAR, the market leader in its field, VASCO takes another step forward with its e-commerce presence in the United States and beyond.”
“We chose VASCO largely because their solution gives our customers a proven means of strong authentication in a manner that is very easy for the mobile user to use,” said David Schaffel, CoStar’s CIO. “In addition, VASCO allowed us to integrate directly into our application, which was something unique when comparing different vendors. This “native integration” reduced our acquisition and administration costs that are typically associated with adding a two factor authentication solution.”
VASCO designs, develops, markets and supports patented “Identity Authentication” products for e-business and e-commerce. VASCO’s Identity Authentication software is delivered via its Digipass security products, small “calculator” hardware devices carried by an end user, or in a software format on mobile phones, other portable devices, and PCs. For user access control, VASCO’s VACMAN products guarantee that only designated Digipass users get access to the application. VASCO’s target markets are the applications and their several hundred million users that utilize fixed passwords as security. VASCO’s time-based system generates a “one-time” password that changes with every use, and is virtually impossible to hack, or break. With 8 million current users of its Digipass products, VASCO has established itself as a world-leader for strong Identity Authentication with 180 international financial institutions, approximately 800 blue-chip corporations, and governments representing more than 50 countries.
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.
More information is available at www.vasco.com.
For more information contact:
Media: Jochem Binst: +32 2 456 9810, [email protected]
Investor Relations: Tony Schor, President, Investor Awareness, Inc.: 847-945-2222, [email protected]
For more information on Web-based CoStar Property and other CoStar services, call 877-7-COSTAR or visit the company's Web site at http://www.costar.com.