Vasco Data Security (Nasdaq: VDSI), a leading software security company specializing in authentication products today announced that it is reinforcing its presence in the Middle East by opening an office in the Kingdom of Bahrain.
The establishment of this new legal entity VASCO Data Security Middle East (SPC), a wholly owned subsidiary of VASCO Data Security in the Kingdom of Bahrain is in line with VASCO's three step strategy in building up a market presence.
VASCO's business strategy consists of building a local market presence in the banking sector by winning a number of large customers. Once the presence in banking has been established, VASCO will enter the enterprise security market with solutions for securing remote access and application security. Finally, once the enterprise security is maturing, VASCO hires local employees, establishes partnerships with local distributors and opens a local office.
The new subsidiary in the Kingdom of Bahrain will be responsible for sales and support for the Middle-East. The local team reports to VASCO operational headquarter in Wemmel, Belgium. The office will be located at Al Jasrah Tower Building, Diplomatic Area, Manama.
"VASCO already has several customers in the Middle East, among others Arab Bank in the United Arab Emirates and Riyad Bank in the Kingdom of Saudi Arabia. We already work together with local distributors, amongst other FVC in Dubai and we are convinced that our local presence will provide us with further growth opportunities.", says Jan Valcke, President and COO at VASCO Data Security.