FOR IMMEDIATE RELEASE

Versasec Joins Swedish Association of Small and Medium Size Enterprises in Defense and Security

Strong Growth in Defense and Security Business Attribute to Versasec's Unanimous Selection

STOCKHOLM, SWEDEN, September 24, 2018 -- Versasec, the leader in smart card management systems, today announced its selection into the Swedish Association of Small and Medium Size Enterprises in Defense and Security (SME-D).

SME-D is an association for companies based in Sweden with less than 250 employees engaged in defense and security. With deep as well as broad competence and experience in defense, security and engineering matters, SME-D companies all have leading positions in their markets. The association, founded in 2003, has more than 30 members with a total of several hundred employees engaged in the high-tech defense and security sector. SME-D is an accepted dialogue partner for government agencies.

"Our government and defense business continues to grow as governments around the world are mandating two-factor authentication use for accessing mission-critical data," said Joakim Thoren, CEO of Versasec. "The SME-D is focused on helping us further develop our strong connections in the defense and security organizations of the Swedish government, and we're excited to work within the SME-D organization to further promote our award-winning identity and access management solutions."

Over the past year, Versasec's defense and security business has grown more than 50 percent and is a testament to its vSEC:CMS solution, which makes it easy for government organizations and their contractors to comply with stringent two-factor authentication regulations.

"The board of SME-D has unanimously decided to welcome Versasec as a member of SME-D," Magnus Sjöland, the chairman of the board at SME-D. "Versasec meets all of the requirements for joining our industry association, and is a serious player in the Defense and Security field."

SME-D member companies work both as prime and support contractors to government agencies and as partners, co-contractors and sub-contractors to other companies in the domestic and international defense and security areas, as illustrated in the figure.

About Versasec

Versasec is the leading provider of state-of-the-art highly secure identity and access management solutions. With its flagship product, vSEC:CMS, Versasec eases the deployment of physical and virtual smart cards for enterprises of any size. Versasec's solutions enable its customers to securely authenticate, issue and manage user credentials more cost effectively than other solutions on the market.

Versasec maintains its mission of providing solutions that are affordable and easy to integrate, coupled with first-class support, maintenance, and training. Versasec customers include HSBC, Tieto, Raiffeisenbank, Hornbach, Daimler, Australia's Department of Defence, European Commission, Qualcomm, eBay, Saudi Aramco, IMF, L'Oreal and Cleveland Clinic Abu Dhabi. Versasec has offices in Sweden, Dubai, Singapore, the United States, the United Kingdom, France and Germany.

Versasec's products and services can be purchased and delivered worldwide through an extensive reseller network and via the Versasec web site: https://versasec.com. Follow us on Twitter (@versasec), LinkedIn (@versasec) and Facebook (@versasec).

PR Contacts: For Versasec, Marianne Dempsey, Rainier Communications
Email: versasec@rainierco.com, Phone: +1 (508) 475-0025, ext. 115.

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