GlobeX Data Positioned to Capitalize on Emerging Markets as Demand for Cybersecurity Solutions Soars
TORONTO, ON / ACCESSWIRE / July 13, 2020 / GlobeX Data Ltd. (OTCQB:SWISF)(CSE:SWIS) ("GlobeX" or the "Company"), the leader in Swiss hosted cyber security and Internet privacy solutions for secure data management and secure communications, is pleased to announce that it has seen an increase in demand for its cybersecurity and privacy solutions DigitalSafe, and its new Sekur suite of encrypted messaging and email solutions.
Demand is coming from Latin America, Sri Lanka, India and the Arab gulf countries of the G.C.C. Recently the Company has been preparing and submitting proposals for several non-government and government projects totaling 20,000 user licenses representing a gross revenue of US$2,400,000 per year. The Company activities in Latin America have increased as the Company has been training its distributors in Colombia, Panama, Mexico and Spain since it has signed a distribution agreement with Tasloko S.L. Additionally, the Company's telecom operator partner America Movil's (NYSE: AMX) Telcel mobile unit in Mexico has put DigitalSafe in its list of security applications and has started a cybersecurity awareness campaign for its enterprise clients, as displayed in this link: https://www.telcel.com/empresas/soluciones/seguridad and this description of DigitalSafe https://www.telcel.com/empresas/soluciones/seguridad/digitalsafe.
The Company plans to integrate its latest Sekur and Sekur Messenger solutions with America Movil sometime this year as Telcel has expressed interest from its existing clients.
Alain Ghiai, CEO of GlobeX Data said: "We are very happy to see activity in the Emerging Markets pickup. Emerging economies have been the hardest hit during COVID-19 as they lack the financial capacity to deploy large budgets to combat the economical and health effects of the pandemic. The Company has seen a recent drastic pick-up in activity from its distributors in India, Sri Lanka, Pakistan, Middle East and Latin America. This bodes well for the Company as we are confident that we will see revenue generation moving from Q4 onward. We expect that most of the pickup will come from October onward and move to pre-pandemic level during Q1 2021. Businesses in South Asia and Latin America offer the most immediate uplift, despite the present COVID-19 situation. Countries are picking up activity and data protection is on the top list of priorities, as more and more activities are performed in WFH mode as confinement is still in place in many of the countries we serve."
Sekur is the Company's Swiss hosted secure communications suite, which includes encrypted messaging with self-destruct timer powered by the Company's and an encrypted email service. The Company plans to push the Sekur brand as a secure communications suite in addition to its existing DigitalSafe brand which is the Company's document management and collaboration suite. The Company plans to offer Sekur in late July 2020 for an introductory price of USD 9.99/user/month or USD 99.90/user/year and will include 100GB of email and message storage. Sekur will also come in other versions, Sekur Messenger for encrypted messaging only, Sekur Email which will only have encrypted email, and Sekur for encrypted messaging and email rolled into one solution. Future releases of Sekur including voice and video encryption and video conferencing will be deployed in the next 12 months and will have different price points.
The service will include the Company's proprietary and newly branded features called SekurSend® and SekurReply® anti-phishing encrypted email solution. SekurSend® lets a user send an email to any other recipient, whether they have Sekur or not, in full privacy and security as the email never leaves Sekur's encrypted email servers based in Switzerland. The recipient can then click on the notification and reply in the same manner using SekurReply®, without the recipient having to purchase Sekur. This is also a guarantee to eliminate BEC attacks for businesses and email phishing attacks. Additionally, Sekur will include the Company's latest technology, which include full control of email delivery, data export for SMB and large Enterprises and an automatic Data Loss Prevention technology ("DLP") with real time continuous archiving. These technologies are very much in demand from financial institutions and larger enterprises.
One of the many Privacy and security features of Sekur is that the user does not register with their phone number, eliminating a huge loophole in security and privacy. Just recently, according to an article written by Lindsey O'Donnell and posted on the website threatpost.com on June 5 2020, it was disclosed that WhatsApp phone numbers and users were searchable on Google, creating a massive security and privacy breach. Earlier in the year, an article was written about a similar flaw affecting all businesses, NGOs, UN and non-profit organizations, where WhatsApp Group members were also compromised and searchable in a reverse engineering trick done on Google.
Recent data breaches in messaging applications and in particular in the WhatsApp application have created a certain urgency for businesses to protect their communications form cyber-attacks and identity theft via mobile devices.
Sekur eliminates many of the privacy and security risks by not only not requiring a phone number, which would divulge a user's phone device ID, but also by not social engineering a user's phone or computer contact list and infecting the contacts by default as well. Sekur issues each user a username and a SM number. The SM number is the contact ID a user would disclose in order for other SM users to be added. The service comes with a self-destruct timer and other features as well, including GlobeX's proprietary VirtualVaults and HeliX technologies with all data stored in Swiss hosted encrypted servers.
GlobeX's Data privacy solutions are all hosted in Switzerland, protecting users' data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection ("FADP") of 19 June 1992 (in force since 1993) has set up a strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.
Under Swiss federal law, it is a crime to publish information based on leaked "secret official discussions." In 2010 the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track Internet usage without the knowledge of the individuals involved.
About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.
On behalf of Management
GLOBEX DATA LTD.
President and Chief Executive Officer
Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guaranteeing future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX's prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GlobeX Data Ltd.
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