Annual Report 2009 (1 MB, pdf) - Vasco

Item 1 – Business
PART I
VASCO Data Security International, Inc. was incorporated in the State of Delaware in 1997 and is the
successor to VASCO Corp., a Delaware corporation. Our principal executive offices are located at 1901 South
Meyers Road, Suite 210, Oakbrook Terrace, Illinois 60181; the telephone number at that address is
(630) 932-8844. Our international headquarters in Europe is located at World-Wide Business Center, Balz-
Zimmermannstrasse 7, CH-8152, Glattbrugg, Switzerland; the phone number at this location is 41 (0)43 555
3500. Our principal operations offices in Europe are located at Koningin Astridlaan 164, B-1780 Wemmel,
Belgium and the telephone number at that address is 32 (0)2 609 9700. Unless otherwise noted, references in this
Annual Report on Form 10-K to “VASCO”, “company”, “we”, “our”, and “us” refer to VASCO Data Security
International, Inc. and its subsidiaries.
Additional information on the company, our products and our results, including the company’s annual
report on Form 10-K, quarterly reports on our Form 10-Q, current reports on Form 8-K, and amendments to those
reports filed with the Securities and Exchange Commission (SEC) are available, free of charge, on our website at
http://www.vasco.com. You may also read and copy any materials we file with the SEC at the SEC’s Public
Reference Room at 100 F Street, NE, Washington, DC 20549. You may obtain information on the operation of
the Public Reference Room by calling the SEC at 1-800-SEC-0330. Our reports are filed electronically with the
SEC and are also available on the SEC’s website (http://www.sec.gov).
General
We, through our operating subsidiaries, design, develop, market and support open standards-based
hardware and software security systems that manage and secure access to information assets. We design,
develop, market and support patented “Strong User Authentication” and “PKI” (Public Key Infrastructure)
products and services for employee and consumer security, e-business and e-commerce. Our products enable
secure financial transactions to be made over private enterprise networks and public networks, such as the
Internet.
The backbone of our product range is VACMAN Controller. VACMAN Controller is either integrated
into or interfaced with the host system’s application. VACMAN Controller supports multiple authentication
technologies, including passwords, dynamic password technology, electronic signatures, digital signatures,
certificates and biometrics, on one unique platform.
Our client side strong user authentication is delivered via our hardware and software DIGIPASS
security products, (collectively “DIGIPASSES”) most of which incorporate an electronic signature capability,
which further protects the integrity of electronic transactions and data transmissions. Some of our DIGIPASSES
are compliant with the Europay MasterCard Visa (EMV) standard and are compatible with MasterCard’s and
VISA’s Chip Authentication Program (CAP). Some of our DIGIPASS units are OATH (Initiative for Open
Authentication) compliant.
Our strategy is to be the full option, all-terrain authentication company. Our end-to-end authentication
combines all aspects of VASCO’s longstanding full option, all-terrain business model. Based on one unique core
authentication engine, VACMAN, VASCO offers a wide portfolio of over 50 software and hardware client
authentication products and services, for Banking and non-Banking markets. As such, VASCO secures a network
from the server to the end-user.
In early 2010, we launched our DIGIPASS as a Service (DaaS) business model. With DaaS, we will
offer our customers the opportunity to secure all of their software as service business applications with one single
DIGIPASS authentication credential.
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