Hong Kong telco Cable & Wireless HKT has launched a joint venture with Australian security products vendor Secure Network Solutions to deliver secure e-commerce packages in Hong Kong and the Asia Pacific region. Cable & Wireless HKT SecureNet, which is 60% owned by the Hong Kong partner, is expected to significantly increase the turnover of the Australian company according to SNS chief executive Geoff Ross. The joint venture is set up to share value-added e-commerce transactions revenues. Some projects that we’re looking at have tens and hundreds of millions of transactions a year, so we’re talking potential telephone book numbers of revenues, he said.
SNS was built around the core business of encryption hardware vendor Randata, but changed its name when it listed in Australia two years ago. Since then it has expanded its product range into e-commerce payments processing, internet security and smartcards through an aggressive acquisition program.
