TORONTO, ON / ACCESSWIRE / May 19, 2020 / GlobeX Data Ltd. (OTCQB:SWISF) (CSE:SWIS) ("GlobeX" or the "Company"), the leader in Swiss hosted cyber security and Internet privacy solutions for secure data management and secure communications, is pleased to announce that it has signed a distribution agreement with ValueData Technologies Pvt Ltd. based in Mumbai, India, for all its cybersecurity, data backup, secure communications and Internet privacy solutions.
ValueData has already received several requests for GlobeX's suite of data protection and secure communications and is embarking on a national roll out of all GlobeX's solutions, DigitalSafe, PrivaTalk Messenger, PrivaTalk and Custodia.
Alain Ghiai, CEO of GlobeX Data said: "We are very happy to penetrate the vast and fast-growing cybersecurity market of India. Internet privacy and data security in India has become a prime concern with government organizations, businesses, and wealthy individuals looking at protecting their privacy and their valuable financial information. Just recently, the website cisomag.com disclosed that 1 in 3 Indian companies suffered huge financial costs from hacking and that around 50,000 cyber-frauds were reported between 2018 and 2019 alone. GlobeX is just starting in this fast-growing giant market, and we are happy to hear that we are the only company in the country offering the range of products we offer with the level of security and privacy we bring to the table. The unprecedented situation COVID-19 has put global businesses under pressure to provide secure remote business management tools for their employees, and has created an increased awareness for secure cloud business services such as GlobeX's. We believe that this trend will only continue moving forward, and India is no exception, on the contrary it is the fastest growing market with some of the weakest security and vulnerability to cyber hacking. We look forward to offer best-in-class security and privacy to the people and businesses of this great nation."
According to Statista.com website, with over 560 million internet users, India is the second largest online market in the world, ranked only behind China. It was estimated that by 2023, there would be over 650 million internet users the country. Despite the large base of internet users, the internet penetration rate in the country stood at around 50 percent in 2020. This meant that around half of the 1.37 billion Indians had access to internet that year. There has been a consistent increase in internet accessibility compared to just five years ago, when the internet penetration rate was around 27 percent.
About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.
On behalf of Management
GLOBEX DATA LTD.
President and Chief Executive Officer
For more information on DigitalSafe visit us at: https://digitalsafe.com. For more information on PrivaTalk visit us at: https://privatalk.com.
Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX's prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GlobeX Data Ltd.