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Gecad releases 2008 business report

After one year in which it invested 1.5 million euros in three of its companies (Gecad Net, ePayment-Avangate and Axigen), businessman Radu Georgescu told daily Ziarul Financiar he was content with the report on 2008.

'2008 was a good year for the group. Each of the company showed it can stand on its feet. In turn, 2009 will be a year of consolidation, it will be a moment to focus on profitability and the construction of procedures, more exactly on elements for the future growth,' said Georgescu.

At the same time, founder of Gecad group said that the respective businesses have now reached the maturity. 'There are three businesses which have a huge potential and reached a development with which they can make a difference on the market. Each of them has a higher value than RAV had when it was bought by Microsoft,' said Georgescu in an interview for daily Ziarul Financiar.

When the Romanian Antivirus (RAV) was sold to Microsoft, the speculations on the market pointed to a transaction worth $10 million, however, the figures was never confirmed by Georgescu.

He said Gecad cannot be isolated from the impact of the economic crisis, but added that his companies do not report dramatic evolutions, such as massive layoffs.

Gecad Net is specialising in IT security, computer forensics and software, ePayment-Avangate provides an information solution for electronic trade, whereas Axigen is a professional solution for electronic messaging, launched by Axigen company, which provides a global efficient and safe communications environment.

Last year, Axigen was assessed at 17 million euros, after a consortium of investors, which includes an investment fund funded by American giant Cisco - the world network equipment giant - bought a 11.7 percent stake in exchange for 2 million euros.

The funds which last year became shareholders of Axigen are Global Finance and 3TS-Cisco Growth Fund III, plus private investors from the United States and Western Europe.

'The most successful edition of RAV was devoted to servers of email for communications providers. This is how the idea of this product started, when, after having sold to Microsoft, we assessed on what markets we should enter. Axigen is a business pf intellectual property, which solves a problem of the communications providers. Before us everybody focused on companies, there hasn't been any email server established for them. The other solutions on the market are very good, they have million of functions but which are not suitable for this type of companies,' said Radu Georgescu.

At present, Axigen is represented at international level by over 160 partners from 80 countries and ensure email traffic for more than 10,000 companies with 6 million end users.

 

Sursa: http://www.rompress.ro

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