VASCO opens Mumbai subsidiary

OAKBROOK TERRACE, USA & ZURICH, SWITZERLAND: VASCO Data Security International Inc., a leading software security company specializing in authentication products, announced that it will re-inforce its presence in Asia by opening a subsidiary in Mumbai, India.

VASCO received the official Certificate of Incorporation of VASCO Data Security (India) Pvt Ltd at the end of Q2 2008.

The new subsidiary will be responsible for sales and support in India. 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.

Jan Valcke, VASCO's President and COO, says: "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."