Middle East IT security software market to witness CAGR of 34 per cent from 2012 to 2013

Sept. 18, 2012 - PRLog -- The Middle East region’s security software market is poised to experience a compounded annual growth rate (CAGR) of 34 per cent from 2012 and 2013, according to forecasts made by leading industry experts.  The expected increase is attributed to the growing interest of Middle East companies for software that can provide their businesses with enhanced cyber security measures. Looking to capture this thriving market segment, First Information Security (FIS), a company dedicated to offering a comprehensive range of security services and products that are in compliance with the latest international industry standard requirements, has appointed prominent security leader, internationally recognized inventor and expert cryptographer, Dr. Taher Elgamal, Ph.D. , as its new Chief Executive Officer. Dr. Elgamal’s appointment is expected to bolster the company’s move to mark a stronger market presence in the region by leveraging its diverse line of security products and services across various industry verticals in the region.

Dr. Elgamal is the founder of the ElGamal encryption system, an asymmetric key encryption algorithm for public-key cryptography, and is used in several cryptosystems. He is regarded as one of the innovators in the field of internet security—inventing several industry and government standards in data security and digital signatures for key segments that include the DSS (Digital Signature Standard) government standard for digital signatures. He is widely known as the Father of Secure Sockets Layer (SSL), a protocol for encrypting information over the Internet and is also credited for authoring the SSL patent and promoting it as an internet security standard within standard committees and within the industry.

Dr. Elgamal, who has also served as Founder, CEO (Chief Executive Officer), CTO (Chief Technology Officer), CISO (Chief Information Security Officer) and Chief Scientist for numerous key organizations, was responsible for developing the basic foundation for data security and digital signatures, which has been adopted in commercial products by about 10 companies, several IEEE and ISO standards as well as the adopted DSS government standard for digital signatures. Dr. Elgamal's work has also been used as the foundation for the Elliptic Curve Encryption.

He is also recognized for his contributions in the Internet payment area, having worked closely with VISA and MasterCard on a variety of payment systems for e-commerce applications. He is also credited for creating the original idea for transparent compression for hard disk access for PCs. Dr. Elgamal also serves as an advisor to several startup companies in the Internet and e-commerce space and a Venture advisor to Onset Ventures. In addition, Dr. Elgamal also serves as a consultant and advisor to Actiance, Symplified, IFOS, Zetta, Qualy’s, Passfaces and many more

“Businesses in the Middle East have now identified internet security as a top priority as current vulnerabilities have become an area of concern. With this in mind, FIS believes that this is the most strategic time to build up on a real information security framework to address the demands of the market. Rest assured that we will live up to our commitment of providing our clients with the most innovative and advanced security-based products and services that not only ensure full safety and protection but will also play a major role in improving on both productivity and efficiencies,” concluded Dr. Elgamal.