GlobeX Data Signs Distribution Agreement with SYNNEX Canada Covering 11,000 Resellers Network Nationwide

Rhea-AI Summary

GlobeX Data Ltd. (OTCQB:SWISF) announced a distribution agreement with SYNNEX Canada, enabling the Sekur secure communications solution to reach over 11,000 resellers across Canada. The partnership aims to combat rising cyber threats in the country, with sales expected to start in January 2021. GlobeX estimates between 550 and 1,650 resellers will sell the Sekur solution, generating projected recurring gross sales of CA$ 4,320,000 (US$ 3,297,000) in the first year, and increasing to CA$ 21,600,000 (US$ 16,488,000) by year three.

Positive

• Nationwide distribution agreement with SYNNEX Canada to reach 11,000 resellers, significantly increasing market penetration.
• Projected gross sales of CA$ 4,320,000 (US$ 3,297,000) in year one, rising to CA$ 21,600,000 (US$ 16,488,000) by year three.
• Plans to allocate 5% of gross sales into marketing efforts to further boost awareness and sales.

Negative

• None.

TORONTO, ON and NEW YORK, NY / ACCESSWIRE / November 16, 2020 / GlobeX Data Ltd. (OTCQB:SWISF)(CSE:SWIS) ("GlobeX" or the "Company"), the leader in Swiss hosted secure data management and secure communications, is pleased to report that it has signed a nationwide distribution agreement with SYNNEX Canada Limited ("SYNNEX Canada"), a leading national distributor of IT software, hardware and consumer electronics throughout Canada, to distribute GlobeX's Sekur solution through SYNNEX Canada's 11,000 resellers nationwide. SYNNEX Canada is a subsidiary of NYSE listed SYNNEX Corporation (NYSE:SNX).

SYNNEX Canada purchases peripherals, IT systems, system components, software, networking equipment, consumer electronics and complementary products from their primary suppliers and sells them to reseller and retail customers. They perform a similar function for their distribution of licensed software products. Their reseller customers include value-added resellers, or VARs, corporate resellers, government resellers, system integrators, direct marketers, and national and regional retailers. SYNNEX Canada distributes technology products from more than 400 IT, CE, and OEM suppliers to resellers, system integrators, and retailers throughout Canada.

SYNNEX Corporation (NYSE:SNX), is a Fortune 200 corporation and a leading business process services company, provides a comprehensive range of distribution, logistics and integration services for the technology industry, as well as outsourced services focused on customer engagement strategy to a broad range of enterprises. SYNNEX distributes a broad range of information technology systems and products and also provides systems design and integration solutions. Concentrix, a wholly-owned subsidiary of SYNNEX Corporation, offers a portfolio of strategic solutions and end-to-end business services around customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in ten identified industry verticals. Founded in 1980, SYNNEX Corporation operates in numerous countries throughout North and South America, Asia-Pacific and Europe. Additional information about SYNNEX may be found online at www.synnex.com.

The distribution agreement with SYNNEX Canada covers all of Canada, and will expose GlobeX's secure email and messaging solutions to over 11,000 resellers in Canada alone. GlobeX has decided to partner with Darn IT Group in the implementation and training of the resellers nationwide and has named Darnley Greson, CEO of Darn IT Group, as GlobeX Data's Channel Development Manager for North America. The term of the Agreement shall be for a period of one year after the Effective Date with automatic one-year renewals unless terminated by either party upon 30 days prior written notice.

Alain Ghiai, CEO of GlobeX Data said: "We are very happy to have been accepted by SYNNEX Canada for our Sekur Swiss hosted secure communications solution suite, which includes secure email, secure file share and secure messaging. We are looking forward to demonstrate the unique technology and privacy advantages of Sekur to SYNNEX Canada's 11,000 resellers. Canada has suffered tremendous amounts of cyber-attacks, including the attack on government institutions, such as the Canada Revenue Agency, various healthcare organizations and facilities, and resource and energy companies. Whether you are an SME, an Enterprise or a government organization, you need protection from email cyber-attacks, and data theft. Our strength in using proprietary technology, Swiss privacy laws and no third-party platform such as AWS, MS cloud or Google cloud, puts us in a unique position to provide true privacy and security. GlobeX is here to provide the best protection and privacy to all documents, emails and instant message communications."

GlobeX Data and SYNNEX Canada have started the process of marketing to resellers and estimate start of sales to be in January 2021. SYNNEX Canada estimates that 5% to 15% of its resellers would resell Sekur, which means that out of 11,000 resellers, between 550 and 1,650 would be selling GlobeX's security solutions. GlobeX's internal team estimates that in the first year, it can effectively market its solutions to approximately 100 resellers by the end of 2021 and to over 500 active resellers over the next 3 years. The Company estimates that each active reseller would sell a minimum of 300 licenses per year, resulting in recurring gross sales of CA$ 360,000 (US$ 275,000) / month or CA$ 4,320,000 (US$ 3,297,000) / year by the end of the 1st year and CA$ 1,800,000 (US$ 1,375,000) / month or CA$ 21,600,000 (US$ 16,488,000) / year by the end of the 3rd year, representing 150,000 Sekur licenses sold in Canada in the 3rd year. GlobeX plans to allocate 5% of gross sales into marketing Sekur with SYNNEX Canada, in order to grow yearly sales and awareness to resellers. This would ensure that as sales increase, so does marketing to more resellers. As sales start in Canada, GlobeX has plans to approach SYNNEX Corporation in the USA to expand in that market as well for 2021. GlobeX has a 5-year goal of marketing its solution to 1000 SYNNEX resellers, resulting in 300,000 Sekur licenses sold both in Canada and the USA.

Sekur is the Company's Swiss hosted secure communications suite, which includes encrypted messaging and voice recording transfer with self-destruct timer, an encrypted email account and a secure file transfer solution. All data is secured using GlobeX's proprietary encryption technology and is hosted exclusively in Switzerland for ultimate privacy.

Sekur includes the Company's latest SekurMail technology, which includes proprietary anti-phishing and privacy feature called SekurSend®. SekurSend® lets a user send an email to any other recipient, whether they have Sekur or not, in full privacy and security as the email never leaves Sekur's encrypted email servers based in Switzerland. The recipient can then click on the notification and reply in the same manner using SekurReply®, without the recipient having to register for a Sekur account. The sender can also decide to protect any email sent by adding a password to open it, a read-limit and a self-destruct timer as well. Sending an email with the SekurSend® feature allows the senders and recipients to add limitless size attachments to the emails without crowding the recipients' email box. This also guarantees to eliminate BEC attacks for businesses and email phishing attacks. Additionally, SekurMail includes full control of email delivery, automatic data export for large Enterprises and an automatic Data Loss Prevention technology ("DLP") with real time continuous archiving.

One of the many Privacy and security features of Sekur is that the user does not register with their phone number, eliminating a huge loophole in security and privacy. Just recently, according to an article written by Lindsey O'Donnell and posted on the website threatpost.com on June 5 2020, it was disclosed that WhatsApp phone numbers and users were searchable on Google, creating a massive security and privacy breach. Earlier in the year, an article was written about a similar flaw affecting all businesses, NGOs, UN and non-profit organizations, where WhatsApp Group members were also compromised and searchable in a reverse engineering trick done on Google.

Recent data breaches in messaging applications and in particular in the WhatsApp application have created a certain urgency for businesses and data privacy advocates to protect their communications form cyber-attacks and identity theft via mobile and desktop devices.

Sekur eliminates many of the privacy and security risks by not only not requiring a phone number, which would divulge a user's phone device ID, but also by not social engineering a user's phone or computer contact list and infecting the contacts by default as well. Sekur issues each user a username and a SM number. The SM number is the contact ID a user would disclose in order for other SM users to be added. The service comes with a self-destruct timer and other features as well, including GlobeX's proprietary VirtualVaults and HeliX technologies with all data stored in Swiss hosted encrypted servers.

GlobeX's Data privacy solutions are all hosted in Switzerland, protecting users' data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection ("FADP") of 19 June 1992 (in force since 1993) has set up a strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.

Under Swiss federal law, it is a crime to publish information based on leaked "secret official discussions." In 2010 the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track Internet usage without the knowledge of the individuals involved.

About GlobeX Data Ltd.
GlobeX Data Ltd. is a Cybersecurity and Internet privacy provider of Swiss hosted solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, disaster recovery, document management, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through its approved wholesalers and distributors, and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.

On behalf of Management
GLOBEX DATA LTD.
Alain Ghiai
President and Chief Executive Officer
+1.416.644.8690
corporate@globexdatagroup.com

For more information please contact GlobeX Data at corporate@globexdatagroup.com or visit us at https://globexdatagroup.com.
For more information on Sekur visit us at: https://www.sekur.com.

Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guaranteeing future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX's prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.

SOURCE: GlobeX Data Ltd.

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FAQ

What is the significance of GlobeX Data's distribution agreement with SYNNEX Canada?

The agreement will expose GlobeX's Sekur solutions to over 11,000 resellers in Canada, expanding market reach significantly.

When does the sales process for Sekur begin with SYNNEX Canada?

Sales of Sekur's solutions are expected to start in January 2021.

What revenue does GlobeX Data expect from the SYNNEX partnership?

GlobeX anticipates generating gross sales of CA$ 4,320,000 (US$ 3,297,000) in the first year, increasing to CA$ 21,600,000 (US$ 16,488,000) by the third year.

How many resellers does GlobeX expect to engage through SYNNEX Canada?

GlobeX estimates that between 550 and 1,650 of SYNNEX Canada's resellers will sell the Sekur solution.

What is Sekur's key feature that enhances privacy and security?

Sekur does not require users to register with a phone number, which eliminates significant privacy vulnerabilities.