VASCO closes R&D operations in Brisbane (Australia)
Company consolidates its R&D offices; Decreases overall development expenses
OAKBROOK TERRACE, Ill. and ZURICH, Oct. 21, 2013
OAKBROOK TERRACE, Ill. and ZURICH, Oct. 21, 2013 /PRNewswire/ --VASCO Data
Security International Inc. (Nasdaq: VDSI) announced today that it will close
its R&D facility in Brisbane, Australia. The company plans on consolidating
its R&D resources in order to improve cost efficiency and expects to finalize
the closure of the Brisbane office by end of December, 2013.
VASCO has R&D facilities in The Netherlands, Belgium, France, Austria, the UK
and Australia. The time difference and the travel distance between the main
R&D facilities in Europe and the Brisbane office were among the decisive
factors for VASCO to discontinue its Brisbane office. In Australia, the
company continues to invest in its Sydney regional sales headquarters.
VASCO's Brisbane office had 15 employees. The R&D activities that were
located in Brisbane will be reassigned to VASCO's Vienna (Austria) office.
The Vienna operations have the necessary resources to continue the
development of the products previously developed in Brisbane.
"It is unfortunate that we have to discontinue our R&D operations in
Brisbane," said Ken Hunt, VASCO's Chairman and CEO. "VASCO's R&D centers are
spread all over the world due to our history of acquisitions. The cost and the
work load necessary to manage such a widely spread network of R&D offices over
multiple time zones, forced us to take action in order to make VASCO's R&D
department more efficient."
About VASCO Data Security
VASCO is a leading supplier of strong authentication and e-signature solutions
and services specializing in Internet Security applications and transactions.
VASCO has positioned itself as global software company for Internet Security
serving a customer base of approximately 10,000 companies in more than 100
countries, including approximately 1,700 international financial institutions.
VASCO's prime markets are the financial sector, enterprise security,
e-commerce and e-government.
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. 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", "projected" 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. Factors that could cause actual results to differ
materially from those contemplated above include risks, uncertainties and
other factors described in our Annual Report on Form 10-K for the year ended
December 31, 2012 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. Thus, the results that
we actually achieve may differ materially from any anticipated results
included in, or implied by these statements. 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
This document may contain trademarks of VASCO Data Security International,
Inc. and its subsidiaries, including VASCO, the VASCO "V" design, DIGIPASS,
VACMAN, aXsGUARD and IDENTIKEY.
For more information contact: Jochem Binst , +32 2 609 97 00, firstname.lastname@example.org
SOURCE VASCO Data Security International Inc.
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