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Melbourne’s Data-sec set for global growth

27 August 2021
Rueben Hale

Recent Hewlett Packard innovation award winner, Datasec is joining the ranks of Australia’s growing tech industry with its proprietary encryption and authentication software, already providing security solutions to global computer hardware manufacturers.

As companies and governments worldwide frantically work to avert growing cyber-attack occurrences, Datasec has been providing its technology and experience to the likes of HP and global leading card reader manufacturer rf IDEAS.

Datasec has agreements to supply security software for up to 10 million HP printers and global rollout in partnership with rf IDEAS, selling millions of swipe card readers a year.

The company sees the agreements driving massive global growth with revenues from expanding consultation services, diversification with complementary software and services and continued focus on research and development as the driver of expansion and value to investors.

It is also negotiating a paid proof of concept with a global financial services company with potential annual revenues of around $3 million and at least an extra million income from high demand for cyber services.

Datasec is seeking $1.5m through a private placement at 40c per share, at a pre-money valuation of $7.6m.

The clean balance sheet offer is expected to be rolled out to HP clients in Q4 2021, with first revenues expected from rf IDEA in the same period.

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