Ubizen NV, the Belgian network security software developer previously named Netvision NV, has recorded fourth quarter losses to September 30 of 3.6m euros ($3.6m), compared with losses of 0.1m euros ($0.1m), on revenue that shot up 588.7% to 9.1m euros ($9.2m).
Ubizen CEO Stig Bijnens said that the firm had drawn more than half of its revenue from outside its traditional Benelux market for the first time after setting up its first French office. The revenue does not include sales from the US, where Netvision acquired Aurora Enterprise Solutions Inc, a Reston, Virginia Java-based internet security software company for $10m in August (CI No 3,736).
The Leuven-based firm changed its name last month, perhaps because the previous name was shared by two other firms, Israel’s largest internet service provider and an Orem, Utah-based firm in which Novell has a stake. Ubizen is intended to combine a sense of ubiquity, from the Latin word for ‘where’, with the ‘Zen’ ideal of wisdom.
