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GlobeX Data says it's positioned to capitalize on emerging markets as demand rockets for cybersecurity

The company said businesses in South Asia and Latin America offer great potential despite the coronavirus pandemic as countries rush to prioritize data protection

GlobeX Data - GlobeX Data positioned to capitalize on emerging markets as demand rockets for cybersecurity
GlobeX said it had recently submitted a slew of proposals for government and non-government projects

GlobeX Data Ltd (OTCQB:SWISF)(CSE:SWIS), the cybersecurity and privacy solutions provider, said Monday that it has seen a spike in demand for its cybersecurity and privacy solutions DigitalSafe, and its new Sekur suite of encrypted messaging and email solutions.

The company said it is seeing demand growing from Latin America, Sri Lanka, India and the Arab countries of the Gulf Cooperation Council.

GlobeX noted that it recently submitted a slew of proposals for government and non-government projects "totaling 20,000 user licenses representing a gross revenue of nearly $2,400,000 per year."

The firm’s activities in Latin America have increased with its training for distributors in Colombia, Panama, Mexico and Spain since inking a distribution agreement with Tasloko SL. Additionally, the company's telecom partner in Mexico, America Movil's (NYSE:AMX) Telcel mobile unit has put DigitalSafe on its list of security applications and has started a cybersecurity awareness campaign for its enterprise clients.

The company said it plans to integrate its new Sekur and Sekur Messenger solutions with America Movil later this year as Telcel has seen interest from its existing clients.

In a statement, GlobeX Data CEO Alain Ghiai said: "We are very happy to see activity in the emerging markets pickup. The company has seen a recent drastic pickup in activity from its distributors in India, Sri Lanka, Pakistan, Middle East and Latin America.”

He added: “This bodes well for the company as we are confident that we will see revenue generation moving from the fourth quarter onward.”

The GlobeX boss expects most of the business will trickle in from October onward and move to pre-coronavirus (COVID-19) pandemic levels during the first quarter of 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," Ghiai said.

GlobeX is promoting its Sekur anti-phishing encrypted email and messaging solution which includes a self-destruct timer. 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.

In late-July, GlobeX has said it plans to offer Sekur for an introductory price of $9.99 per month per user, or $99.90 for the year. It will include 100 gigabytes of email and message storage.

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive


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