VASCO closes R&D operations in Brisbane (Australia)

October 21, 2013

Company consolidates its R&D offices; Decreases overall development expenses

OAKBROOK TERRACE, Illinois and ZURICH, Switzerland – October 21, 2013– VASCO Data Security International Inc. (Nasdaq: VDSI; www.vasco.com), announced today that it will close its R&D facility in Brisbane, Australia. The company plans on consolidating its R&D resources in order to improve cost efficiency and expects to finalize the closure of the Brisbane office by end of December, 2013.

VASCO has R&D facilities in The Netherlands, Belgium, France, Austria, the UK and Australia. The time difference and the travel distance between the main R&D facilities in Europe and the Brisbane office were among the decisive factors for VASCO to discontinue its Brisbane office. In Australia, the company continues to invest in its Sydney regional sales headquarters.

VASCO’s Brisbane office had 15 employees. The R&D activities that were located in Brisbane will be reassigned to VASCO’s Vienna (Austria) office. The Vienna operations have the necessary resources to continue the development of the products previously developed in Brisbane.

“It is unfortunate that we have to discontinue our R&D operations in Brisbane,” said Ken Hunt, VASCO’s Chairman and CEO. “VASCO’s R&D centers are spread all over the world due to our history of acquisitions. The cost and the work load necessary to manage such a widely spread network of R&D offices over multiple time zones, forced us to take action in order to make VASCO’s R&D department more efficient.”

VASCO is a leading supplier of strong authentication and e-signature solutions and services specializing in Internet Security applications and transactions. VASCO has positioned itself as global software company for Internet Security serving a customer base of approximately 10,000 companies in more than 100 countries, including approximately 1,700 international financial institutions. VASCO’s prime markets are the financial sector, enterprise security, e-commerce and e-government.

Forward Looking Statements:
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These forward-looking statements (1) are identified by use of terms and phrases such as “expect”, “believe”, “will”, “anticipate”, “emerging”, “intend”, “plan”, “could”, “may”, “estimate”, “should”, “objective”, “goal”, “possible”, “potential”, “projected” and similar words and expressions, but such words and phrases are not the exclusive means of identifying them, and (2) are subject to risks and uncertainties and represent our present expectations or beliefs concerning future events. VASCO cautions that the forward-looking statements are qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those contemplated above include risks, uncertainties and other factors described in our Annual Report on Form 10-K for the year ended December 31, 2012 and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties resulting from turmoil in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasingly sophisticated hacking attempts, increasing numbers of patent infringement claims, changes in customer requirements, price competitive bidding, and changing government regulations, and (c) risks specific to VASCO, including, demand for our products and services, competition from more established firms and others, pressures on price levels and our historical dependence on relatively few products, certain suppliers and certain key customers. Thus, the results that we actually achieve may differ materially from any anticipated results included in, or implied by these statements. Except for our ongoing obligations to disclose material information as required by the U.S. federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.

This document may contain trademarks of VASCO Data Security International, Inc. and its subsidiaries, including VASCO, the VASCO "V" design, DIGIPASS, VACMAN, aXsGUARD and IDENTIKEY.
For more information contact: Jochem Binst , +32 2 609 97 00, [email protected]