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

BUDGET 2012:
Parliament Debate Live - Video Of Budget 2011
Keith Ng Interactive Graphic: How the Budget Breaks Down
BUDGET 2012 - FULL COVERAGE: Reports / Analysis - Press Kit - Reaction (from everybody) - Previews (from everybody) - Pre-Budget Announcements

Gordon Campbell: On the Budget’s Spreadsheet Victories

It wasn’t as if expectations were sky high, exactly. Chances are, it was always more likely that we’d be seeing Bigfoot rampage through the Beehive lock-up than catch a glimpse of a credible growth agenda from this government. More >>

Sludge Budget Report - Short The Dollar! MEMO: To international bankers FROM: C.D. Sludge Please short the dollar! It'll be good for both you and us. And you know you want to. Greexit, Eurogeddon... watch out... flight to quality and all that. Follow your instincts. The NZ Debt Management Office has been so surprised at the unprecedentedly low interest rates that it can borrow at that it has already entirely pre-funded the 2013 fiscal deficit - all $8 billion of it! More >>

Pattrick Smellie Comment: Doddling along the best we can hope forCriticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. Perhaps it's the intrusion of real world needs that means the government couldn't make better political use of the $558.8 million it expects to gather in its first partial asset sale. More >>