OAKBROOK TERRACE, Ill., and ZURICH, Dec. 19, 2013 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com), a leading software security company specializing in authentication products, announced today that it is collaborating with Kanoo Information Technology, a division of the E.K. Kanoo group of companies, to bring the VASCO authentication services to the Bahrain market.
Kanoo Information Technology (Kanoo IT) combines an expertise in security with advanced skills in training, consulting and integration. The organization has implemented applications and solutions in the key sectors government, banking & finance, oil & gas and others, and in the SMB segment. They will bring VASCO's solutions to the Bahrain market and cooperate closely with the local and global VASCO team for both commercial and technical aspects.
VASCO provides the world with easy-to-use, convenient and secure authentication solutions and services. On the client-side, VASCO offers a wide range of end user authenticator devices, called DIGIPASS. These hard- or software devices enable users to generate a one-time password (OTP) that can only be used once in a limited period of time, to log on to a system in a secure way. More complex, but equally user-friendly authentication devices are the e-signature and PKI devices. On the server-side, VASCO offers back-end authentication platforms to secure remote access to corporate resources and various types of (web-based) applications.
Waleed Kanoo, Director of E.K. Kanoo Bahrain, explains: "Authentication in today's Internet banking era has new challenges. Institutions are looking for secured authentication or verification systems connected to every transaction. Further, we have trust in VASCO's cost-effective, manageable and easy-to-use solutions that offer strong, scalable security to organizations of any size.
"The need for secure authentication is clear. More than ever, organizations are aware that the continuance of the company can only be assured if security and thus authentication is taken seriously," says Jan Valcke, President and COO of VASCO Data Security. He adds: "we are very proud to partner with Kanoo Information technology in Bahrain and are convinced that this partnership will enable us to further penetrate the Bahrain market."
About Kanoo Information Technology
Formed in 1996, Kanoo IT is a division of the E.K. Kanoo group of companies - one of Bahrain's leading business organizations. As an ICT solution provider, Kanoo IT provides customized and cost-effective ICT solutions to a diverse clientele ranging from government and private organizations to corporate houses and multinational companies.
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. VASCO's products and services are delivered on the customers' premises or in the cloud.
Forward Looking Statements:
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. 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" and "goal", "possible", "potential", 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. These risks, uncertainties and other factors have been described in greater detail in the Annual Report on Form 10-K for the fiscal year ended December 31, 2010 filed with the Securities and Exchange Commission and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, 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. Reference is made to VASCO's public filings with the U.S. Securities and Exchange Commission for further information regarding VASCO and its operations.
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SOURCE VASCO Data Security International Inc.