VASCO: The Chicago-Based Data Security Company That Has Captivated Wall Street
November 12, 2007: 5:30 PM - 8:00 PM
The data security company that has really captivated Wall Street in recent years is Vasco Data Security International (VDSI), based in Oakbrook Terrace, Illinois. Come to learn how, Ken Hunt, a former college football star has built this company into a world leader in data security. Hear why data security technologies being used widely in Europe and Asia may soon become commonplace in the U.S.
U. Chicago GSB's Gleacher Center
450 North Cityfront Plaza Drive
Driving Directions:Click on: http://www.gleachercenter.com
GSB Alumni/Faculty/Students: $20.00 ($15.00 if you register 5 days in advance)
General public: $25.00 ($20.00 if you register 5 days in advance.)
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5:30 PM-6:30 PM: Networking & Hors d'oeuvres
6:30 PM-8:00 PM: Talk by T. Kendall Hunt
T. Kendall Hunt (Speaker)
Chairman & CEO, VASCO Data Security International
Bill Wentz, Class of 1988, XP-57
630.527.8552, ext. 304
We usually associate sophisticated data security technology with Silicon Valley. But, the data security company that has really captivated Wall Street in recent years is Vasco Data Security International (VDSI), based in Oakbrook Terrace, Illinois. Come to learn how, Ken Hunt, a former college football star has built this company into a world leader in data security. Hear why data security technologies being used widely in Europe and Asia may soon become commonplace in the U.S.
VDSI’s security products are immensely popular among financial institutions in Europe and Asia (including 7 of the 8 foreign banks recently permitted to do retail banking in China) – and are becoming accepted in the United States as VDSI penetrates such banks as Wachovia and HSBC.
In late July, VDSI attracted Wall Street’s attention when it announced that its second quarter revenue had increased 75% over the year earlier period and forecast that sales in 2007 would be 55 to 65% above 2006 sales. Since early August, Investors Business Daily has consistently rated VDSI among its top five growth stocks. Business Week ranked VDSI No. 4 on its list of the 100 Hot Growth Stocks in 2007, after ranking it No. 7 in 2006.
Driving this growth is the worldwide concern for security in business transactions, particularly among banks. One of VDSI’s main products, Digipass, is a hand-held device that bank customers use to generate one-time passwords so that they can access their accounts securely on-line. With its headquarters in Oakbrook Terrace, its President located in Belgium and a new international operations center in Switzerland, VDSI is truly an international company. VDSI has sales offices in every major region of the world and uses local sales people who know the region’s languages, customs and businesses. See www.vasco.com
T. Kendall Hunt, a native of the Chicago area and a former football star at the University of Miami (FL), has led the company through most of its history. After being fired as President of another high tech firm for reducing head count, Hunt found a start-up selling security devices to ABN Amro and signed on as its President. Hunt took the company public in 1998 and retired a year later. But, in 2002, he returned to lead the company -- transforming it into a high growth company with a 66% gross margin that has become a darling of Wall Street.