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Hungarian data security firm eyes expansion in China

Hungarian data recovery and security company KURT is planning to expand into the Chinese market, the company told Hungarian news agency MTI yesterday.

Having signed a strategic partnership agreement with Invest Shenzhen, Chinaʼs first special economic zone, last year, KURT has conducted talks on specific projects as part of the agreement in recent weeks.  

Deputy CEO Miklós Márton said the recently signed agreement could open up a data recovery market of amazing dimensions. Revenue from data recovery could increase by 5-6 times within a short period, with costs rising only minimally, he added.  

In the long run, the expansion could require additional capacity, he said, without providing projected investment figures. 

KURT had a net profit of HUF 45 million on revenue of HUF 1.18 billion in 2014. Márton said revenue increased 15-20% in 2015 according to preliminary figures.