US intelligent integrated solutions provider Radware (Nasdaq: RDWR) expects IT security to account for 40% of overall Latin American sales this year before rising to 60% in 2012, Radware's Latin American channel sales manager, Miguel Porto, told BNamericas.
Radware's offering includes a range of application delivery solutions and also IT security products focused on network security and application firewalls. The company is accelerating security sales efforts due to its larger market size when compared with the application delivery market, Porto said without providing hard figures.
"We started pushing security more at the end of last year," he said.
Geographically, Brazil, Mexico, Chile, Peru and Colombia will play host to the most significant security business opportunities in the upcoming months, Porto said, underscoring opportunities in Chile with the installed application delivery client base.
"We are there [with current customers] in terms of a high-availability point of view, and not a security point of view. What we're doing is talking to the same companies, but going to the security people," he said.
Radware sees overall Latin American sales increasing at least 50% this year, after the company posted 30% growth in 2010.
Latin America has so far managed to dodge some of the threats wreaking havoc in other parts of the world, such as denial of service (DoS), Porto said. On the other hand, regional institutions - particularly banks - are on high alert for intrusion prevention, and have been working to protect their signatures.
Many Latin American companies still maintain incomplete IT security implementations, thus leaving the door open for multi-vulnerability attacks, Radware's VP for security solutions, Carl Herberger, told BNamericas.
"We are talking about denial of service and NBA [network behavioral analysis]. Signatures are an important part of it, so you need IPS [intrusion prevention system]. We are talking about web application firewall, which is different than a network-based firewall, and then also anti-fraud and social engineering protection."
Globally, Radware posted US$9.6mn in net profits last year, in comparison to a US$5.9mn loss in 2009. Sales for the year increased 32.3% to US$144mn.