Modulo boosts 2002 sales to US$7.8mn

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Friday, February 14, 2003

Brazilian e-security solutions company Modulo Security Solutions posted a 33% revenue increase for 2002 compared to 2001, reaching 28.5mn reais (US$7.78mn), the company said in a statement.

Highlights of the year include becoming the first Latin American solutions company to gain international certification status, launching security solutions for Brazil's interbank settlement program (known locally as SPB), creating a new risk analysis solution, and participating in a project which helped Brazil's second-largest federal bank Caixa Economia Federal gain recognition as a digital certifier from the country's digital certification authority ICP Brasil.

For 2003 plans are to restructure operations by splitting business into three independent branches: consulting services, check-up tool and community. The company foresees 20% revenue growth this year.

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