5 Nov 2013

Mako leaps into US market

2:32 pm on 5 November 2013

Auckland cybersecurity company Mako Networks says a deal with the third largest wireless provider in the US is a stepping stone to a market worth hundreds of millions of dollars.

Mako has signed a contract with Sprint to provide its cybersecurity and card fraud prevention system to Sprint's retail customers.

The teaming agreement means that Sprint will resell Mako's security products as part of its wireless service.

Mako chief executive Bill Farmer says the deal is worth tens of millions of dollars in revenues for his company over the next three years, as it gives it access to Sprint's 54 million customers.

"We see this creating jobs in New Zealand for our people, and we see this as a stepping stone to the wider growth in the United States market."

He says he hopes the deal will create another 100 more jobs in New Zealand.

Mr Farmer says his company will look at a sharemarket listing as one of a number of options for funding growth.