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Company Interview Excerpt
KEVIN M. KELLY - PROGINET CORPORATION


Full article published: 09/23/2005


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TWST: We would like to begin, if you will, with a brief historical sketch of Proginet and a picture of things as they are now.
Mr. Kelly: Proginet was founded back in 1984 by a couple of individuals who recognized the need in the market for a managed file transfer capability for the distributed processing environment. At that time, we had -- with the advent of minicomputers and the introduction of personal computers, there was a need to distribute information between the various computing platforms. So Proginet was founded to respond to that market need and the first product that the company developed was a product called XCOM, which was a file transfer system to meet the protocol requirements of mainframe and distributed processing systems. In 1991, Proginet sold XCOM off to a company called Legent for 6.2 million, which was a large sum of money at that time for a small company. And since then, XCOM has been acquired by Computer Associates as Legent was acquired by CA a few years ago. The first product we developed, XCOM, has generated just under 1 billion of revenue since it was introduced back in 1988. We took the monies from the sale of XCOM and we developed the next generation of managed file transfer capabilities, which is really the core competency that Proginet has, launched our CyberFusion technology and Fusion technology between 1994 through 1996 and we went public in 1995. With those products selling in that time frame, we went into the development of our password management technology called SecurPass and we jointly introduced that into the market, primarily supporting password management between a mainframe environment and a Windows platform, having jointly developed SecurPass with Microsoft back in 1997. Most recently, Proginet has launched the CyberFusion Integration Suite technology, which is an advanced managed file transfer solution that allows for transfers of data both inside and outside of an enterprise to satisfy the security, the regulatory, and the business process requirements of major complex enterprises today.

 

Tickers included in this excerpt: PRGF

 

For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.