CyberArk Doubles Asia-Pacific Revenue as Global Customers Demand Reliable Solutions to Respond to Complex IT Security Threats
NEWTON, Mass. HONG KONG – April 8, 2010 – Cyber-Ark® Software, the leading global software provider for protecting critical applications, identities and information, today announced several important milestones for the company’s Asia-Pacific business. With growing demand for its Privileged Identity Management Suite that helps global customers protect themselves from increasingly complex internal and external IT security threats, Cyber-Ark now has more than 50 customers across 10 countries in Asia-Pacific. As a result, the company doubled its Asia-Pacific revenue in 2009. New customers include MobileOne (M1), ChinaTrust and several other large enterprises in Hong Kong, India and Singapore.
With more than 15 strategic partners and resellers across the region, Cyber-Ark recently entered several new markets including China, India, Philippines, Vietnam and Thailand with specific traction in the financial and telecommunications industries. New Asia-Pacific resellers and distributors include AT Emphasis, DynaSafe, i-Net, Keystone, MiSoft, Netpoleons, Nexus, SUNNIC and Xynapse. To continue to expand its Asia-Pacific footprint, Cyber-Ark hired a director of sales for the ASEAN region, and a new director of channels for India. Cyber-Ark also increased its technical resources with more than 50 Cyber-Ark Certified Engineers across the region.
“As the leading Energy company in Hong Kong, we not only have privileged information that needs to be accessed by internal users, but we also need to address numerous security and compliance requirements,” said Michael Lau, IT services support manager, The Hong Kong and China Gas Company Limited (TownGas). “Cyber-Ark helped us gain better control of our business-critical information assets, ensuring that authorized accounts are accessing information only when they need it.”
According to the IDC Asia-Pacific Semiannual Security Software Tracker (January 2010), most security markets in the Asia-Pacific region are expected to post strong double-digit growth in 2010 compared to 2009. IDC attributes this growth to increasingly sophisticated attacks, both from internal and external sources; unauthorized access to corporate systems and networks; and regulatory compliance requirements.
Cyber-Ark directly addresses these growing business concerns among Asia-Pacific companies with solutions that can be integrated quickly in order to deliver rapid results in terms of more effective management and monitoring of sensitive accounts and systems, protecting business-critical information, and improved audit and compliance capabilities. In fact, several of Cyber-Ark’s strategic partners have incorporated the company’s privileged identity management solutions as part of their governance, risk and compliance (GRC) offerings for outsourced accounts.
“With increasing security inquiries from Asia-Pacific customers, Cyber-Ark is poised for even greater success in 2010. We have established market leadership in Asia with a tremendous network of customers and partners that truly value the benefits our privileged identity management solutions offer, including greater security, compliance and peace of mind,” said Dan Dinnar, vice president of sales, Asia-Pacific for Cyber-Ark Software. “With the global IT security threat landscape continuing to become more complex, especially with increased adoption of new technologies and enterprise business models, we are committed to providing the most comprehensive suite of solutions that IT teams need to ensure business reliability.”