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GlobeX Data capitalizing on demand for secure communication from ballooning work-from-home population

Snapshot

The company distributes, designs and develops software and cybersecurity solutions that protects data and communications

GlobeX Data -

Quick facts: GlobeX Data

Price: 0.155 CAD

CSE:SWIS
Market: CSE
Market Cap: $8.13 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 telecoms 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) (OTCMKTS:SWISF) is on a mission to keep your data and communications safe and secure.

The New York and Toronto-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

- Custodia is the company's Swiss hosted end-to-end encrypted email service with its proprietary SecureSend and SecureReply technology

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

Revenue is generated through a monthly or annually 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 debuted on the Canadian Securities Exchange in 2019, is transitioning at a time when the cybersecurity market is set to exceed US$300 billion by 2024, according to Global Market Insights.

How it is doing:

Demand for GlobeX’s Swiss-hosted secure document management and secure communications cloud services has ballooned since the coronavirus (COVID-19) outbreak forced millions of employees to work from home for an indefinite period.

Business Email Compromise attacks have increased dramatically in the past two years and are resurging exponentially during the crisis due in part to the lack of home internet security and scrutiny from tech staff at home.

GlobeX said it is working with several resellers in South Asia, South East Asia, and the Asia Pacific region, in order to start sales in the second quarter of 2020. Some of the projects the company said it is working on are large multi-million dollar and multi-year projects spearheaded by financial institutions and governments.

The company has signed distribution agreements covering Sri Lanka, Pakistan, Nepal, the Maldives, India, Bangladesh, Singapore, Vietnam, Malaysia, Thailand, the Philippines, Australia, New Zealand and the South Pacific Islands of Fiji.  

The targeted industries are businesses in the financial services, legal services, healthcare, manufacturing, energy, large conglomerates, telecom operators and government entities.

In the US, GlobeX has launched a new business solutions package to help secure the growing work-from-home population. In conjunction with its US reseller Guard Street Partners LLC, it introduced a remote workforce cybersecurity secure business solutions package that will include DigitalSafe, which includes heightened email security, network vulnerability alerts, access to cyber incident response specialists and a cyber liability insurance policy.

It has also launched its work from home package in the Bahamas and began a broad sales campaign in North America.

Inflection points:

  • New contract announcements
  • Launching website for Custodia product
  • Debut PrivaTalk Messenger in 2Q
  • Accelerated revenue in 2Q 2020
  • Targeting profitability by the end of 2021

What the boss says:

In an interview with Proactive about the Globex’s newly launched sales campaign, CEO Alain Ghiai commented: “We have some Canadian resellers already and are in discussions with resellers in New York, but with the launch of our sales campaign we’re looking to expand nationwide. The advantage is that this will really cement our North American sales in the years to come.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Full interview: GlobeX Data looking to bring cyber security platform to...

GlobeX Data (OTCQB: SWISF- CSE: SWIS) President and CEO Alain Ghiai joined Steve Darling from Proactive Vancouver to discuss the company signing a deal with a conglomerate that represents some 2000 cybersecurity resellers in Latin and Central America. Ghiai telling Proactive this will see...

3 days, 7 hours ago

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