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QuoVadis Signs Partnership with GS1
26 Nov 2007

Bermuda-based internet security company QuoVadis has announced a major strategic partnership in Switzerland with GS1, one of the largest standards and services providers in the world for supply and demand chains.

QuoVadis provides technologies that are used to identify devices and people working online, to protect the privacy of data, and to ensure the integrity of electronic records. 

Originally founded to serve Bermuda’s insurance companies and their global networks, QuoVadis built up an array of international clients.  Along the way, the company earned several important security accreditations and became embedded in most commonly used software.  To support its growth, QuoVadis opened offices in Switzerland in 2005, and became regulated as a “qualified” provider under European standards which give significant legal benefits to customers. 

For example, to encourage competitiveness, tax authorities across Europe provide incentives for companies to adopt e-invoicing.  However, they first insist that companies digitally sign all the underlying online records to ensure that they are tamperproof as they are sent and archived.  In Switzerland, QuoVadis was the first provider “qualified” to supply digital credentials (called ElDI-V certificates) to support the Swiss Federal Department of Finance’s new requirements in this area.

The new partnership will enable GS1 to act as an official Registration Authority, providing ElDI-V compliant digital certificates from QuoVadis to their massive client user base seeking to comply with this extended tax legislation.  Other QuoVadis clients in Switzerland include major government entities, banks and insurers, as well as some of the largest retailers and distributors in the region.

In early 2007, QuoVadis attracted significant investment from US-based private equity firm ABRY Partners, which is being used to drive its international expansion.  Already the Swiss office has grown to include a sales team, backed by technical engineers and support staff, for the growing European client base. 

Group CEO Roman Brunner will eventually relocate from Bermuda to Switzerland in order to coordinate the company’s overseas growth.  In addition to the Swiss team, the company opened a new sales office in the United Kingdom in 2007 and expects to launch additional country locations in 2008.

According to Mr. Brunner, “The hub of QuoVadis’ technology and its core operations team will remain in Bermuda, where we have a very important client base.  However, we continue to build partnership channels and direct sales teams overseas, both to win new customers and support them in their native languages, but also to understand the complex regulations that apply in our business.”