Foregenix has announced the opening of a new office in Sao Paulo, Brazil, marking the beginning of its 2018 expansion.
This new office adds to Foregenix’s existing global locations and signifies its commitment to enhancing its international operations.
Expanding Globally
Foregenix, a Marlborough-based cybersecurity specialist, kicked off 2018 by inaugurating a new office in Brazil. This new branch in Sao Paulo complements the company’s recently established presences in Mainz and Sydney, further reinforcing its global footprint.
Foregenix’s expansion aligns with the company’s strategy to establish a stronger international presence. With existing operations in Montevideo, Boston, and Sandton, the firm’s reach now encapsulates significant global markets, bolstering its capability to deliver cybersecurity solutions worldwide.
Leadership in Brazil
Guilherme Scheibe, a managing consultant with three years of tenure at Foregenix, has been appointed to head the new Brazilian office. His leadership and extensive experience are pivotal as the company expands its footprint in South America.
Scheibe stated, “Our experienced team is already attracting clients that want top-level cyber security consultancy and software solutions.” This sentiment reflects Foregenix’s commitment to delivering expert services in the new market.
The Rising Importance of Cybersecurity in Brazil
The expansion into Brazil comes amidst a significant increase in internet usage in the region. In 2016, over 66 per cent of the Brazilian population was online, a stark rise from under three per cent in 2000.
With the surge in online presence, Brazil has seen a corresponding rise in cybercrime. The Brazilian Federation of Banks estimated that more than 50 per cent of all financial transactions were conducted online, making cybersecurity a critical concern for individuals and businesses alike.
Brazil has become a hotspot for cybercriminals due to the increasing online activities, necessitating robust cybersecurity measures. Foregenix’s entry into this market is timely and essential for addressing these challenges effectively.
Strategic Vision
Benjamin Hosack, the chief commercial officer of Foregenix, articulated the strategic importance of establishing a presence in Brazil. He noted, “Brazil is a rapidly growing digital economy with a high demand for specialist cyber security skills and experience.”
By positioning itself in Brazil, Foregenix aims to tap into the Latin American economic and financial services leader, further solidifying its status as a global cybersecurity provider. This move is seen as a logical step in Foregenix’s ongoing international strategy.
Generating International Revenue
Foregenix generates a substantial portion of its revenue from international sales. Specifically, two-thirds of its revenue stems from the global market, showcasing the company’s effective international business model.
Operating in 20 countries, Foregenix’s consultancy teams and software solutions are highly sought after. This global demand underscores the quality and reliability of Foregenix’s cybersecurity services.
Commitment to Brazil
The establishment of the Sao Paulo office signifies Foregenix’s commitment to Brazil. This move is not merely about geographical expansion but also about contributing to local cybersecurity improvement.
With its entry into the Brazilian market, Foregenix is poised to provide much-needed cybersecurity expertise, helping to safeguard the burgeoning digital economy.
Future Prospects
Looking ahead, Foregenix is expected to continue its expansion and innovation in the cybersecurity domain. Brazil represents just one of the many strategic locations where the company plans to establish its presence.
The potential for growth in the cybersecurity market is substantial, and Foregenix aims to be at the forefront, delivering cutting-edge solutions to its clients globally.
The opening of the new office in Brazil underscores Foregenix’s strategic vision and commitment to global expansion.
As cybersecurity threats continue to rise, Foregenix’s presence in Brazil will play a crucial role in safeguarding the digital landscape in the region.
