Edison Publishes Update Note on Vasco Data Security

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Feb 26, 2015, 11:18 ET

LONDON, February 26, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the publication of an update note on Vasco Data Security.

(Logo: http://photos.prnewswire.com/prnh/20130417/608168 )

Highlights of the analysis on Vasco by Edison's technology analyst Bridie Barrett include:

Revenue momentum built in 2014 with Q4 revenues +44% year-on-year. VASCO plans to capitalise on the interest it is seeing in its new products by expanding S&M efforts, which, with a doubling of order backlog at the start of the year, should support ongoing double-digit growth. Share performance is likely to be driven by news regarding significant new customer wins and effective investment of its $137m net cash balance.

As the only listed pure-play strong authentication group and with a leading position in the banking segment, we believe VASCO justifies its premium c 30x FY15 P/E rating versus peers. The size and frequency of hackings is increasing and cyber security has become both a board room and a government affair. This environment is supportive to ongoing strong growth, and VASCO is securing its position by introducing innovative products that reduce the 'friction' of strong authentication while increasing security.

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About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support its capital markets activity. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

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For more information please contact:

Bridie Barrett, Edison Investment Research, +44-(0)20-3077-5700

Dan Ridsdale, Edison Investment Research, +44-(0)20-3077-5729

[email protected]

SOURCE Edison Investment Research