Network security system developer AlgoSec said that its revenue rose 75% in its fiscal year 2010, compared with the year before.

The company said that it added 150 new customers worldwide.

AlgoSec co-founder and CEO Yuval Baron said, “AlgoSec experienced another incredible year of growth and global expansion, particularly in the US, exceeding our goals for 2010. Businesses are distinctly aware of the need to understand and manage network security and are looking for solutions that eliminate risk, cut operation and compliance costs and minimize time-and-labor intensive activities."

AlgoSec's R&D center is in Petah Tikva.

Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2011

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