Recent Branham research has found that organizations are implementing more proactive IT security measures in an effort to protect against events such as theft of sensitive corporate data or loss of revenue due to disruption of operations. As a result of this increased attention, the companies operating in the Canadian IT security space experienced impressive growth in 2009, as category revenues increased 20 per cent compared to last year to $426.58 million. The category leaders also produced solid 2009 numbers, generating $373.18 million in 2009, up 21 per cent from $307.34 million in 2008. ESI Information Technologies landed in the top spot this year. Increasing revenues by eight per cent year-over-year to approximately $64 million, the security and compliance solutions provider was able to surpass last year’s IT security leader, Memory Experts International, which saw its revenues slide 14 per cent to $60 million in 2009.
ParetoLogic, led all firms on this year’s Top 10 IT Security Companies listing, with 52 per cent growth, increasing sales from $27.98 million in 2008 to approximately $42.6 million in 2009. Third-ranked Radialpoint followed closely as it bettered its 2008 fiscal year with a 44 per cent increase in sales in 2009.
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