OAKBROOK TERRACE, Ill., July 22, 2016 (GLOBE NEWSWIRE) -- VASCO Data Security International, Inc. (NASDAQ:VDSI), a global leader in authentication, electronic signatures, and identity management announced today that it has made a strategic investment in Promon AS, a leading developer of mobile application security solutions. This expands an existing business relationship between VASCO and Promon AS. The companies will continue to collaborate in the development of mobile application security solutions.
Promon is a leader in Runtime Application Self-Protection (RASP) technology, a security technology integrated into the application environment capable of detecting and preventing real-time attacks against mobile applications. Its patented deep protection technology, Promon SHIELD™, has protected applications used by millions since 2009. By integrating Promon’s RASP technology, VASCO enhances its ability to help businesses in all market segments protect their mobile applications from hacking attacks.
"With this investment and the expansion of our partnership with Promon, VASCO solidifies its position as a leader in mobile application protection,” said Scott Clements, EVP and Chief Strategy Officer of VASCO Data Security. "Our customers rely on us to bring them the most advanced mobile security solutions in a complete and easy to deploy package."
Promon SHIELD technology is a component of VASCO’s DIGIPASS for Apps mobile security platform offering advanced protection against hacker attacks. DIGIPASS for Apps is a software development kit (SDK) that allows mobile application developers to quickly and easily integrate the most advanced application security features into their mobile applications.
"We are delighted to have VASCO as a partner and investor given its deep experience and leadership in mobile security for financial institutions," commented Gustaf Sahlman, CEO of Promon AS. "The new capital will be used to further develop our world-class app hardening technology and to accelerate international growth in vertical markets where app integrity is of critical importance."
About Promon
Promon’s proprietary technology Promon SHIELD™ represents a new generation of app hardening technologies, which secures apps from both known and unknown attack vectors. Promon protects applications and apps used by millions of users in areas where customer and data integrity is of key importance. Promon is headquartered in Oslo, Norway, with sales offices in Germany and the UK. Promon has an OEM program, which allows partners to provide Promon as part of their own solutions. Additional information about Promon may be found at promon.co.
About VASCO
VASCO is a world leader in providing two-factor authentication and digital signature solutions to financial institutions. More than half of the top 100 global banks rely on VASCO solutions to enhance security, protect mobile applications and meet regulatory requirements. VASCO also secures access to data and applications in enterprise environments, and provides tools for application developers to easily integrate security functions into their web-based and mobile applications. VASCO enables more than 10,000 customers in 100 countries to secure access, manage identities, verify transactions, electronically sign documents and protect assets across financial, enterprise, E-commerce, government and healthcare markets. Learn more about VASCO at VASCO.com and on Twitter, LinkedIn and Facebook.
Copyright © 2016 VASCO Data Security, Inc., VASCO Data Security International GmbH. All rights reserved. VASCO® is a registered or unregistered trademarks of VASCO Data Security, Inc. and/or VASCO Data Security International GmbH in the U.S. and other countries.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, without limitation the guidance for full year 2016. These forward-looking statements (1) are identified by use of terms and phrases such as “expect”, “believe”, “will”, “anticipate”, “emerging”, “intend”, “plan”, “could”, “may”, “estimate”, “should”, “objective”, “goal”, “possible”, “potential”, “project” and similar words and expressions, but such words and phrases are not the exclusive means of identifying them, and (2) are subject to risks and uncertainties and represent our present expectations or beliefs concerning future events. VASCO cautions that the forward-looking statements are qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These risks, uncertainties and other factors have been described in our Annual Report on Form 10-K for the year ended December 31, 2015 and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties resulting from turmoil in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasingly sophisticated hacking attempts, increasing numbers of patent infringement claims, changes in customer requirements, price competitive bidding, and changing government regulations, and (c) risks specific to VASCO, including demand for our products and services, competition from more established firms and others, pressures on price levels and our historical dependence on relatively few products, certain suppliers and certain key customers. Except for our ongoing obligations to disclose material information as required by the U.S. federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.