SafetyCable awarded “Product of the Year”

feb 25, 2001   //   by   //   Ukategorisert  //  No Comments

(OSLO, 2001-02-25) SafetyCable was awarded “Product of the Year 2001 ” in the prestigious award competition put on annually by the Norwegian computer magazine Kapital DATA. SafetyCable won ahead of giants like Hewlett Packard, Computer Associates, Nokia og Checkpoint.

In the competition SafetyCable stood out as the only product in the international category for security products, that physically prevents theft of electronic equipment. The other products in this category consisted mainly of virus detecting software, firewalls and back-up solutions.

A commentator at Kapital DATA noted that there are disturbingly many companies that offer only very limited protection against computer crime. The existing security devices today consist mostly of a simple firewall and an anti-virus program. On the upside of this sad fact, the magazine describes SafetyCable as a new and smart Norwegian innovation that protects electronic equipment against theft.

-We are honored to accept this nomination, and we feel it is an important recognition of SafetyCable, says Chief Executive Knut Foseide of SafetyCable. -We have been working very hard for years developing this product, and most people quite frankly didn’t understand what the hell we were doing. We are now experiencing an increased level of public awareness and recognition for this invention. This recognition also adds fuel to our rockets when we now launch our product fully into the market, underlines Foseide, ready for take-off…

More information: http://www.SafetyCable.com

Contacts:

Knut Foseide,
managing director and founder
Tel: +47 23 19 80 10
Fax: +47 23 19 80 09
Cell: +47 90 19 80 10
Email: knut@foseide.com

Safety Cable AS is a Norwegian based R&D company that develop, manufacture and sell security products for electronic equipment. The company’s goal is to become one of the worlds leading companies within physical computer security through development of innovative products, sale through established distributors and a strong focus on international marketing.

The company’s first product is the award winning and internationally patented power cord, SafetyCable, that prevents theft of computers and other electronic equipment. Other security related products are under development, among others a new and unique solution that protects laptop computers from theft.

Company name: SafetyCable AS

Established: 1998

Number of employees: 6

Goal: Industrialization and commercialization of patented technology, and related products. In addition to actively take part in other company’s through share holding or other means.

Management:
Knut Foseide is the founder of the products and the company. Foseide has a broad academic background and vast experience in the field of computer technology. Foseide is also chairman of the board in the international computer recycling charity organization FAIR.

Product-information:
SafetyCable is a multifunctional power cord, with an integrated over 100 dB theft alarm, in addition to surge protector, power failure indicator and more. The theft alarm is built into the PC connector, which is physically locked into the power inlet of the equipment being protected, by the use of a stainless steel Cable Lock, that opens by password only. SafetyCable is installed in less than 15 seconds, and the alarm emits its > 100 dB sirèn, upon any attempt to disconnect the PC from the power grid, or manipulation of the SafetyCable. SafetyCable is smart – it differentiates between attempted theft and regular power failure, and it also features a jack-inlet for the External Loop, which protects any peripheral eqiupme

Norway’s SafetyCable IPO Likely To Bypass OSE For Nasdaq
By Ingrid Williams

07/10/2000 Dow Jones International News (Copyright (c) 2000, Dow Jones & Company, Inc.)

OSLO -(Dow Jones)- SafetyCable AS likely will seek a listing on the Nasdaq rather than on the Oslo Stock Exchange, the Norwegian computer security firm’s chief executive said.

An Oslo listing «can be hard on technology companies in general,» Foseide told Dow Jones Newswires in a recent interview. «Your valuation is very vulnerable in the Norwegian market, since there are just a few companies that dominate and when something happens to them, the whole market is down. (Liquidity) is a problem.»

Analysts are not so convinced a Nasdaq listing is the answer. «Even for Scandinavian companies with only a few hundred millions of dollars in market cap, size can be a complication for such a listing,» one analyst said. «You need to be larger to really attract investors.»

SafetyCable , founded in 1998, trades on Oslo’s gray market, and is currently valued at around 40 million kroner ($1=NOK8.6120). It will seek a public listing in about 18 months, Foseide said.

The gray market consists of trading in the securities of companies that are unlisted, also known as over-the-counter trading.

The company’s first product is a power cord that has both a surge protector and an alarm that is activated by any attempt to unplug the computer. The alarm can be deactivated only by password. So far, the company has distribution and sales only in Scandinavia but expects to enter the U.S. in late 2000 or early 2001.

«We have been advised by several large investment companies that because we have such a unique technology that we should strongly consider a Nasdaq listing,» Foseide said. «Our first product has an international patent and there are patents on all our products.»

He added that U.S. computer equipment distributor, CHS Electronics Inc. (CHSWQ), has «shown an interest in our products.»

An Oslo-based analyst said the problem for fledgling companies in Norway lies not in an actual listing on the OSE, but in the move from the gray market.

«The gray market is exposed to short-term speculation and lots of rumors,» the analyst noted.

«Many companies are destroyed by rumors in the transition. They may have a good technology and a solid platform, but they don’t get time and peace to develop as they should.»

-By Ingrid Williams, Dow Jones Newswires; 47 23 35 70 70; ingrid.williams@dowjones.com

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