TechNZ grunt for Endace internet security products

Article – Businesswire

July 30 (BusinessDesk) – Kiwi cyber-security firm Endace Ltd. will spend its newly announced $4.4 million TechNZ technology grant to hone products that help financial markets traders gain precious micro-seconds by ensuring their systems run at maximum …

Technology grant to grunt up R&D for Endace’s internet security products

by Peter Kerr

July 30 (BusinessDesk) – Kiwi cyber-security firm Endace Ltd. will spend its newly announced $4.4 million TechNZ technology grant to hone products that help financial markets traders gain precious micro-seconds by ensuring their systems run at maximum efficiency.

The Auckland-based company’s vice president of marketing, Tim Nichols, said the grant was “a great investment in us.” The company already spends about 20% of its annual turnover on research and development, meaning an r&d spend of US$8.8 million last year.
In challenging conditions, Endace made a US$380,000 profit on US$31 million of sales in the last financial year, having booked a US$4.5 million profit the year before.
Endace has been concentrating on setting up its North American sales and marketing infrastructure, some of which is aimed at financial trading houses.
By helping such operations understand where latency occurs in their networks through the use of Endace tools, traders themselves are able to obtain precious micro-second advantages over their competition, Nichols said.
Endace’s cyber security platform appeals to companies’ chief security officers and their job of ensuring that their network is safe.
“They need to know that their network is going to stay up, won’t be infected and that their own people can maintain a continuity of service,” Nichol said.
Endace products seek to capture and analyse real time internet packet data.
(BusinessDesk) 14:08:20

Content Sourced from scoop.co.nz
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