20.05.2008 12:00:00
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Tumbleweed Poised to Benefit From Russia's Tech Boom With Addition of New Channel Partner
Tumbleweed® Communications Corp.
(NASDAQ:TMWD), a leader in managed file transfer and email security,
today announced continued expansion in the EMEA region with the signing
of a new premier distributor in Russia. Rainbow Technologies has joined
Tumbleweed’s partner alliance to help meet the
demand across Russian private and government sectors for innovative,
reliable and easy-to-use secure content delivery solutions.
"Investment in IT infrastructure has seen
double-digit growth in parts of Central and Eastern Europe –
and now that infrastructure is more mature, IT organizations will
predictably turn their attention to security,”
said Craig Whitney, Tumbleweed Managing Director for EMEA, "Rainbow
Technologies has been at the forefront of fulfilling demand and is a
trusted partner to many private enterprises and governmental offices. We
see them as a strategic partner as we enter this region of Europe.”
The current business climate in Russia makes this a particularly
opportune time for such a partnership. By all counts, Russia has seen
enormous IT growth since 2002, and Esther Dyson, a well known U.S.
thought leader on emerging digital technologies, has publicly wagered
that by 2012, major American newspapers will refer to Russia as "the
world leader in software development.”
And if Russia’s huge presence at CeBIT in
2007 was anything to go by – over 150 major
Russian IT exhibitors spanning consulting, outsourcing and software –
the hype may be real.
This new maturity in Russia’s IT space makes
it ripe for the next piece of the puzzle – IT
security, and an emerging demand in the government sector for IT
products and solutions. Tumbleweed SecureTransport™
is a leading Managed File Transfer solution that is uniquely positioned
to benefit from this new phase of growth in Russia's IT sector. Initial
MFT revenue opportunities are expected to be in Russia’s
commercial sector across businesses of every size. Meanwhile, in the
banking and government sectors – where
regulation is heavy and encryption guidelines strict –
Rainbow Technology is aggressively pursuing the required certifications.
"We see tremendous opportunity with
Tumbleweed – in particular with their managed
file transfer product, SecureTransport,” said
Yuriy Ivanovich Kryukov, CEO of Rainbow Technologies. "As
organizations increasingly look for ways to safeguard valuable business
content, SecureTransport provides an effective, easy-to-use product that
enables greater control of business data. There’s
no other product quite like it available in Russia today.” Safe Harbor Statement
Tumbleweed cautions that forward-looking statements contained in this
press release are based on plans and expectations as of the date of the
press release, and that a number of factors could cause the actual
results to differ materially from the guidance given at this time. These
factors are described in the Safe Harbor statement below.
Except for the historical information contained herein, the matters
discussed in this press release may constitute forward-looking
statements that involve risks and uncertainties that could cause actual
results to differ materially from those projected, particularly with
respect to the growth of IT spending or Tumbleweed’s
business in Russia, as well as Tumbleweed’s
relationship with Rainbow Technologies. In some cases, forward-looking
statements can be identified by terminology such as "may,” "will,” "should,” "potential,” "continue,” "expects,” "anticipates,” "intends,” "plans,” "believes,” "estimates,”
and similar expressions. For further cautions about the risks of
investing in Tumbleweed, we refer you to the documents Tumbleweed files
from time to time with the Securities and Exchange Commission,
particularly Tumbleweed's Form 10-K filed March 17, 2008 and
Tumbleweed's Form 10-Q filed May 12, 2008.
Tumbleweed assumes no obligation to update information contained in this
press release. Although this release may remain available on Tumbleweed’s
website or elsewhere, its continued availability does not indicate that
Tumbleweed is reaffirming or confirming any of the information contained
herein.
About Tumbleweed Tumbleweed Communications Corp.
(NASDAQ:TMWD), an industry leader in managed file transfer and email
security, provides enterprise-class solutions to organisations of all
sizes. Tumbleweed’s innovative products
enable organisations to effectively manage and protect business-critical
Internet communications, with capabilities that span secure file
transfer, encryption, data loss prevention, and email security.
Tumbleweed has more than 3,200 customers worldwide, including blue-chip
companies across an array of industries such as technology, retail,
finance, healthcare, manufacturing, consumer packaged goods, telecom,
energy, and the U.S. Government. The world’s
most security conscious organisations rely upon Tumbleweed technology
including Bank of America Securities, JP Morgan Chase & Co., the U.S.
Food and Drug Administration, and the U.S. Department of Defense. Our
award-winning products build on 15 years of R&D and 27 security
patents in the U.S. alone – many of which
are licensed by other security vendors. More information can be found at www.tumbleweed.com.
Tumbleweed and SecureTransport are either registered trademarks or
trademarks of Tumbleweed Communications Corp. in the United States
and/or other countries. All other trademarks are the property of their
respective owners.
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