Endace financials show strong growth

End of year financial results for Auckland-based Endace, an open network monitoring and recording systems provider, reflect a year of strong growth for the company. 

Endace chairman Ian Graham said the increasing frequency and sophistication of cyber attacks and cyber terrorism is becoming a "major threat" to the world.  

"With the move to cloud computing many more companies are storing their essential data remotely and carrying out critical operations on distributed systems, which are vulnerable to attack through the internet. Organisations must in turn increase the depth and sophistication of their network monitoring to counteract these threats," said Graham. 

He said this means a continued focus on traditional markets, for Endace, such as Government, telecommunication providers and financial institutions, and increasing focus on large enterprises, resulting in the development of relationships with sales and channel partners.

Highlights:

• Strongest vertical market performances were in financial services in the US, government in EMEA and telecommunications service providers in the Asia Pacific region.
• The receipt of two technology grants, totalling NZ$10.6 million, from the New Zealand Ministry of Science and Innovation, will reimburse a proportion of eligible R&D expenditure over a three year period to September 2013.