GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) announced Tuesday that it is in the final stages of signing a distribution deal in South Asia, with a large telecommunications operator for its Swiss-hosted Sekur encrypted email, encrypted messaging and secure file-share solution.
GlobeX said the distribution agreement is with a publicly listed company and for this reason, the name of the telecom operator will remain confidential until the agreement has been executed and signed by both parties and a formal announcement can be made. GlobeX expects the deal to be completed in the next two to four weeks.
The telecom company operates in several countries in South Asia and has a global mobile subscriber base of over 150 million subscribers. GlobeX already has an agreement in place with América Móvil, the seventh-largest telecom in the world and largest in Latin America. The current deal would be the second telecom conglomerate signed up in emerging markets.
GlobeX noted that Southeast Asia remains a hotspot for cyber-attacks, especially in the wake of the coronavirus (COVID-19) pandemic, as many medical and financial records have been stolen by cyber-criminals.
"We are very pleased to announce this new distribution, which, once completed and signed, will give GlobeX a vast territory of 150 million mobile subscribers in several South Asian countries,” said GlobeX CEO Alain Ghiai in a statement.
“I have been working myself on this distribution deal for a year and unfortunately, COVID-19 has put a pause on this for most of 2020. We recently re-engaged conversations and we are almost ready to sign all the paperwork. We expect to announce more details once the agreement has been signed, and we expect this distribution to start generating revenues in Q2 or Q3 2021.”
He added: “This would be our second telecom deal in emerging markets, covering a total subscriber base of over 400 million mobile subscribers in two continents. We look forward to growing over the coming years in South Asia and welcome this new addition to the many distribution agreements we have delivered so far. As we are not connected, and never have been connected to AWS, Microsoft Azure or Google Cloud platforms, commonly referred to as ‘Big Tech,’ we can offer a truly independent, private and secure means of communications through secure messaging, secure voice record transfer, secure voice and video conferencing, and secure email through our proprietary technology and our secure servers based in Switzerland."
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