VASCO Data Security International, Inc.

VASCO Data Security International, Inc.
Public
Traded as NASDAQ: VDSI
S&P 600 Component
Industry Software, Computer security
Founded 1991 (1991)
Headquarters Oakbrook Terrace, Illinois
Key people
 T. Kendall Hunt, CEO, Chairman, Founder
Jan Valcke, COO
Revenue $241.44 million[1] (2015)
$50.45 million[1] (2015)
Profit $146.09 million[1] (2015)
Total assets $311.82 million[1] (2015)
Number of employees
 520
Website www.vasco.com

VASCO Data Security International, Inc. is a publicly-traded cybersecurity technology company based in Oakbrook Terrace, Illinois. The company is known for its two-factor authentication and electronic signature software, which manages digital assets and online transactions for financial institutions. It was founded by T. Kendall Hunt in 1991 and held its initial public offering (IPO) in January 2000. Vasco is a member of the FIDO Alliance Board.[2][3]

History

In 1984, T. Kendall Hunt founded VASCO Corp. as a consulting and software services company for corporate and governmental agencies. The company acquired ThumbScan Inc., which claimed to have the first fingerprint reader device for a computer,[4] in 1991. It was renamed VASCO Data Security International, Inc. by 1993 and expanded its offerings to include data security. Vasco was incorporated in 1997 and held its initial public offering in January 2000.[5]

Vasco started developing its Digipass technology in the early 2000s. The company marketed the technology internationally in Belgium. In 2009, Vasco announced that Digipass two-factor authentication was available in the App Store for iPhone and iPod Touch. Forbes recognized Vasco on its list of "America's Fastest-Growing Tech Companies" that year.[6][7][8]

The company established its international headquarters at Dubai Silicon Oasis in 2012. Vasco announced that it would lower EMEA channel entry for VARs at that time. It became a member of the Fast IDentity Online (FIDO) Alliance in June 2014 and was later recognized by Gartner's Magic Quadrant for User Authentication.[9][10][11][12]

In October 2015, Vasco acquired Silanis Technology, Inc., a Canadian document e-signature company, for $113 million. By early 2016, the company's cloud electronic signature software, eSignLive, was updated to include integration with Salesforce. Vasco announced a face recognition authentification feature for Digipass in May 2016. The company has partnerships with financial institutions including HSBC Bank USA, Fedict, Rabobank, Arab Bank and Riyadh Bank.[13][14][15][16][17][18]

References

  1. 1 2 3 4 "VASCO Data Security International Inc. Income Statement". Yahoo! Finance. Retrieved October 31, 2016.
  2. ↑ Fraser, Chad (December 24, 2014). "What 2015 Holds for Cybersecurity Stocks". Investing Daily.
  3. ↑ Strom, David. "Comparing the Top Multifactor Authentication Vendors". TechTarget.
  4. ↑ "Peripherals fill larger product vacuum at NCC". Computer World. June 22, 1987.
  5. ↑ Park, Vivian (October 28, 2016). "Stock Worth Mentioning: Vasco Data Security International Inc". Kentucky Post News.
  6. ↑ Jenny, Stadigs (May 2015). "Belgium gets the market to solve authentication for free". Computer Weekly.
  7. ↑ Ricknäs, Mikael (November 5, 2009). "Vasco Uses IPhone, IPod Touch for Authenticating Users". PC World.
  8. ↑ Paul M. Murdock; John J. Ray (January 29, 2009). "Turbo Techs: 25 Hottest Tech Stocks". Forbes.
  9. ↑ "Gartner Recognizes VASCO Data Security in Leaders Quadrant in Magic Quadrant for User Authentication". PR Newswire. January 28, 2014.
  10. ↑ Enzer, Georgina (February 12, 2012). "Vasco sets up new offices in Silicon Oasis". ITP.net.
  11. ↑ Trendall, Sam (March 28, 2011). "Vasco seeks to bring clarity to EMEA channel scheme". CRN.
  12. ↑ "VASCO Joins FIDO Alliance Board of Directors". PR Newswire. October 14, 2015.
  13. ↑ Van Der Linde, Damon (November 26, 2015). "Montreal E-Signature Company Silanis Bought By Security Firm Vasco For $113 Million". Financial Post.
  14. ↑ Martin, Zach (May 26, 2016). "VASCO updates e-sig software, IoT conference". SecureID News.
  15. ↑ Perala, Alex (May 5, 2016). "VASCO Announces DIGIPASS Selfie Authentication System". Mobile ID World.
  16. ↑ Messmer, Ellen (February 13, 2014). "Banks turn to smartphone tech to fight online fraud". Network World.
  17. ↑ "Rabobank introduces QR code-based online banking authentication". FINextra. September 19, 2014.
  18. ↑ "VASCO's eSignLive Supports Salesforce Customers Globally with Compliance and Data Privacy at Dreamforce 2016". Nasdaq. September 29, 2016.
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