Partnership to tap Mideast security solutions market
Internet Security Systems Middle East (ISS ME) and International Turnkey Systems (ITS) announced a business partnership to deliver security solutions to large organizations throughout the Middle East region.
According to US research firm International Data Corporation (IDC), the worldwide market for information security services in 1999 was $5.5 billion worldwide and this figure is expected to grow to $17.2 billion worldwide by 2004.
Under the terms of the partnership, ITS will market, implement, and maintain ISS services and products throughout the region via its eleven offices throughout the GCC, Levant and Egypt
According to a company press release, ISS ME already has customers in Bahrain, Egypt, the Hashemite Kingdom of Jordan, Kuwait, Lebanon, Qatar, the Kingdom of Saudi Arabia, the Sultanate of Oman and the United Arab Emirates with future plans to expand into North Africa.
Since its incorporation in 1981, ITS has provided critical solutions to over thirty two banks and financial institutions in the region and four out of six Gulf Cooperation Council (GCC) telecommunications service providers. ITS was capitalized at $350,000 in 1981, and in 1996 the capital was increased to $ 8.3 million and subsequently to $28 million.
Founded in 1994, ISS is headquartered in Atlanta. ISS Middle East was formed in February 2000 as a partnership with the Sarhank Group for Investment. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
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