Security vendor Qualys CEO Philippe Courtot mentioned that the WannaCry ransomware and the planned General Data Protection Regulations (GDPR) are “godsends” that will help the company to grow further. He said this during company’s second quarter fiscal 2017 earnings call.
Qualys revenue saw 14% increase compared to previous year. This year revenue is $55.3 million. Company is now estimating growth of 17 to 18%.
“Recent attacks like WannaCry and Petya have made it clear that the days of scanning the network perimeter and a few critical servers are over,” Courtot said during his company’s earnings call. “Enterprises now require scalability, accuracy and speed in order to identify assets that are vulnerable and ensure they are rapidly and properly remediated, which is something traditional enterprise IT and IT security solutions cannot deliver effectively and at which Qualys excels.”
Qualys’ cloud platform consists of a host of expanding capabilities that help enterprises with vulnerability and security management tasks. It has also announced new SSL/TLS certificate and cloud visibility technologies which will further augment the cloud security platform.
Upcoming GDPR regulation is also the main contributing factor for the company growth. It will come into effect in May 2018 across the European Union (EU). GDPR makes it compulsory to take all possible efforts for the companies to ensure the security and the privacy of customer data.
“We see that GDPR is in fact a godsend for Qualys and we see the effect of that because specifically, it is now accelerating the digital transformation of many of the large European companies,” Courtot said.
The recent breaches due to WannaCry has boosted Qualys business prospect.
“WannaCry has been also a godsend for Qualys,” Courtot said. “People finally realize that instead of having to buy solutions that supposedly protect them, that in fact they better try to identify all of their assets and also identify the vulnerabilities on those assets because this is what WannaCry and then NotPetya absolutely demonstrated.”
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