Two channel bellwethers have reported a COVID-19 induced revenue spike.
UK-based cybersecurity provider Shearwater Group told investors this morning that mass adoption of remote working had resulted in increased demand for the multi-factor authentication software of its SecurEnvoy brand.
This follows a similarly upbeat stock exchange announcement last night from one of Europe's largest distributors, ALSO.
ALSO CEO Gustavo Möller-Hergt claimed the IT industry will see a "surge of growth" throughout the coronavirus pandemic as remote working sparks increased demand for products and services for the channel.
Chinese factories have resumed production, the Swiss-German distie giant said, adding that it now has confirmed deliveries for March and April. The distributor also believes COVID-19 will mean increased demand for hardware, software and services due to home-based working and schooling.
"Due to corona, the IT industry gets a further surge in growth. We are pleased about this; however, at the same time we know that one's own health and that of the family, solidarity and mutual support are just as important," said Möller-Hergt
AIM-listed Shearwater, whose share leapt by eight per cent this morning, said it had won a number of new contract wins and upgrades in March.
"Whilst the Coronavirus pandemic is a rapidly developing situation, we remain confident that we can continue to provide our customers with continuity of service and support at a time when their organisations are particularly susceptible to network penetration and data loss through both intentional and unintentional actions," said CEO Phil Higgins.
"The seismic shift towards remote working has driven increased demand in SecurEnvoy's multi-factor authentication solutions, which provides secure access across a range of platforms and apps."
Broadliner says it will appeal the French authority’s findings that it colluded with Apple to fix prices in the French market
US distributor says it will 'vigorously contest' its €62.9m fine for alleged price-fixing in France market
France’s competition watchdog has issued its largest ever fine, accusing the three companies of running an illegal cartel in France, fixing prices, and “sterilising” the French channel
Distie establishes in-house team of experts to help partners navigate partner programme
Leadership consulting firm Hogan Assessments has identified five attributes top executives will need to have if they are to lead their firms remotely
Customers may have to compromise on configurations as COVID-19 sparks short-term demand hike, Neil Sawyer warns
The vendor gives CRN the first-look in Europe at its latest threat report as senior threat research analyst Tyler Moffitt discusses the challenges facing the cybersecurity market in the next decade
Shearwater Group and ALSO issue upbeat statements to investors as COVID-19 stokes demand for their wares