Market Herald logo

Subscribe

Be the first with the news that moves the market
  • GlobeX Data (CSE:SWIS) has received its first purchase order for its proprietary DigitalSafe service
  • DigitalSafe is a secure, all-in-one document, password and email manager
  • The order comes from the South Asian Association for Regional Cooperation (SAARC) and includes a variety of distribution agreements
  • Based on recent discussions, the order is expected to represent approximately C$2 million in recurring annual revenue
  • GlobeX Data (SWIS) remained steady, with shares trading at $0.13 and a market cap of $6.82 million

GlobeX Data has received its first purchase order for its proprietary DigitalSafe service.

The company is a Swiss-hosted provider of cyber security and internet privacy solutions for secure communications and data management.

Its proprietary cloud-based service, DigitalSafe, is a secure, all-in-one document, password and email manager.

The order is a first for the South Asian Association for Regional Cooperation (SAARC), which includes a number of member states. SAARC comprises just 3 per cent of the world’s area, but is home to 25 per cent of the world’s population.

GlobeX Data has signed distribution agreements that cover a variety of regions; including Sri Lanka, Pakistan, Nepal, the Maldives, India and Bangladesh.

The company says that it is has cast a wide target net, focusing on businesses in financial and legal services, telecom operators, large conglomerates and government entities.

Alain Ghiai, GlobeX Data CEO, said he is exciting to see initial orders coming in.

“We expect many more orders coming in the coming quarters from several countries in the region.

“We are expecting in the next 18 months to sell DigitalSafe and our other Cybersecurity services, such as Custodia and PrivaTalk Messenger, to close to 15,000 users in the SAARC region,” he said.

Ghiai went on to say that the order represent approximately C$2 million in recurring annual revenue. The figure is based on the company’s current estimations of around $137 per user, per year.

GlobeX Data sells its products via approved wholesalers and distributors, as well as select telecommunications companies worldwide.

GlobeX Data (SWIS) remained steady, with shares trading for $0.13 at 3:57pm EST.

More From The Market Herald

" Record revenue for California Nanotechnologies (TSXV:CNO) fiscal 2022

California Nanotechnologies (CNO) announced record revenues of US$1,081,500 for the year ending February 28, 2022, a 39 per cent increase from last year.
Electrovaya - Elmira Memarzadeh, Director of Engineering Programs.

" Electrovaya (TSX:EFL) granted U.S. patent for lithium-ion electrode

Electrovaya (EFL) has received a U.S. patent for a unique battery electrode microstructure.
NEO Battery Materials - CEO, Spencer Huh (left) and A&P CEO, Hak Soo Jeon.

" NEO Battery Materials (TSXV:NBM) announces $3M investment from Automobile & PCB

NEO Battery Materials (NBM) has secured a C$3M investment from Automobile & PCB (A&P).