Local Indian staff has been hired in order to fuel VASCO's growth in India's booming banking and enterprise security markets
OAKBROOK TERRACE, Ill., and ZURICH, Switzerland, July 3
/PRNewswire-FirstCall/ -- VASCO Data Security International, Inc. (NASDAQ:VDSI) (http://www.vasco.com/), a leading software security company specializing in authentication products, today announced that it will reinforce its presence in Asia by opening a subsidiary in Mumbai, India. VASCO received the official Certificate of Incorporation of VASCO Data Security (India) Private Limited at the end of Q2 2008.
The new subsidiary will be responsible for sales and support in India. Shortly, VASCO hired its first local staff, responsible for delivering support to VASCO's Indian customers and prospects. The Indian team will report to VASCO's regional hub in Sydney, Australia.
In every large market, VASCO follows a three-step approach to success. In a first phase, VASCO aims at winning large customers in the banking sector. Secondly, VASCO adds the Enterprise Security sector as a focus to its regional approach. In this phase, VASCO looks for local partners and local employees. In a third phase, VASCO opens a local office.
"India is an important market for VASCO. The booming economy, the growth of the service sector and the highly educated workforce brings new business opportunities to VASCO. In India, VASCO already counts among its customers a number of leading banks. Now, we are poised on growing our market position in the Enterprise Security sector and reinforce our growth in the financial sector. We are convinced that our local presence and team will further enhance our presence in the Indian market," says Jan Valcke, VASCO's President and COO.
Contact and address information about VASCO's Indian office will be announced shortly.
About VASCO: 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 a global software company for Internet Security serving a customer base of close to 7,100 companies in more than 100 countries, including more than 1000 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.
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: Jochem Binst, +32 2 609 97 00, jbinst at vasco.com DATASOURCE: VASCO Data Security International, Inc.
CONTACT: Jochem Binst of VASCO Data Security International, Inc., +32 2 609 97 00, jbinst at vasco.com Web site: http://www.vasco.com/
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