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GlobeX Data is on a mission to protect user privacy

Snapshot

The newly-listed company is growing at a time when the cybersecurity market set to exceed US$300 billion by 2024

GlobeX Data -

Quick facts: GlobeX Data

Price: 0.145 CAD

CSE:SWIS
Market: CSE
Market Cap: $7.6 m
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  • Offers all-in-one data security services in a single, secure platform with information stored in Switzerland
  • Blue-chip partners include America Movil, the third-largest telecom operator globally with over 300 million subscribers
  • Cybersecurity market set to exceed US$300 billion by 2024 

What GlobeX Data does?

GlobeX Data Ltd (CSE:SWIS) is on a mission to keep your data and communications safe and secure.

The Vancouver-based company distributes, designs and develops software and cybersecurity solutions that protects data and communications.

The company distributes a product suite of cloud-based storage, document management and collaboration, encrypted emails and secure communication tools: 

 - DigitalSafe is an encrypted password manager, secure data backup, file sharing and email platform.

 - PrivaTalk offers private and secure communications via a secure chat platform that comes equipped with a self-destruct timer.

 - Sekur is a product designed for strategic use by key personnel in high-level organizations and high-net-worth individuals for users who need more privacy and security.

Data is stored in Switzerland in bank-approved data centres used by Swiss and global banks alike, as well as United Nations organizations. Switzerland is home to some of the strongest privacy protection laws in the world thanks to regulations like the Swiss Federal Data Protection Act and the Swiss Federal Data Protection Ordinance.

Marketed via distributed and telecommunications companies throughout the world, GlobeX Data’s users include consumers, businesses and governments.

Revenue is generated through a monthly or annual recurring fee per user for the selected products. Its distribution model is based on signing up channel partners resellers of cloud services and telecommunications companies serving businesses.

The company, which just debuted on the Canadian Securities Exchange, is transitioning at a time when the cybersecurity market set to exceed US$300 billion by 2024, according to Global Market Insights.

How is it doing?

GlobeX signed a reseller licence agreement in May 2018 with Sercotel, a wholly owned subsidiary of America Movil SAB de CV.

America Movil operates in 26 countries worldwide with 276 million wireless subscribers globally. GlobeX receives 40% of revenues worldwide.

The company recently announced that it had launched its DigitalSafe product in Mexico with its partner Telcel, a leading telecommunications company in the country. As an affiliate of Sercotel, Telcel is able to licence the product to its nearly 76 million subscribers.

DigitalSafe has been fully integrated with Telcel's billing and provisioning system, facilitating sales. A local team is present in Mexico to assist in sales support and marketing.

GlobeX also has a partner network throughout South Asia, Middle East and Africa and the Asia Pacific regions.

Inflection points:

The data security company has a phased go-to-market strategy with some key upcoming catalysts, including revenue generation in the second half of the year from its global partner network.

It has also launched a North American-focused B2B campaign with a new brand identity and strategy to increase visibility in the region.

In 2020, GlobeX has targeted Colombia, Chile and Brazil as key growth markets. It also plans to expand throughout South Asia, Middle East and Africa and Asia Pacific.

The data company is also planning to implement PrivaTalk, its secure communications suite, into the Telcel provisioning and billing system by early 2020.

What the CEO says:

In a statement celebrating the launch of DigitalSafe in Mexico, GlobeX Data CEO Alain Ghiai said:“With cybersecurity risks growing in Mexico, and with the recent news of certain popular social media chat and voice applications being recorded and transcribed, we have seen an immediate need for PrivaTalk with Telcel's client base."

“Cybersecurity is an issue that concerns all consumers, businesses and governments alike and we are here to better prepare Telcel's client base against such risks.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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