Milestone Systems establishes its first international subsidiary in Italy

The new subsidiary in Milano is called Milestone Italia Srl.

COPENHAGEN, Denmark 29 September 2003

Milestone Systems A/S, with headquarters in Denmark, has now established a subsidiary in Milano, Italy, called Milestone Italia Srl.

Milestone Systems has chosen Italy based on strong business connections that offer a good foundation for expansion. With a population of more than 57 million, Italy has a diversified industrial economy with about the same total and per capita output as France and the UK. In the last decade, Italy has pursued a tight fiscal policy to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest rates. The present government has enacted many short-term reforms aimed at improving competitiveness and long-term growth. Over 97% of Italy's Gross Domestic Product comes from industry and services – areas now showing increased interest in networked video surveillance solutions.

Milestone Systems plans to take advantage of these and expand its reach in the Italian market by establishing its own office for sales and distribution of its Xprotect line of surveillance software. The networked digital video surveillance market is growing fast, and Milestone Systems is on the leading edge of it, gaining a solid reputation for its advanced line of solutions.

"Broadening our distribution power through establishing Milestone subsidiaries in other countries is very attractive – and definitely part of our strategy for continued growth," explains Lars Thinggaard, CEO (Chief Executive Officer) at Milestone Systems. "The Italian market is promising, with a traditional focus on security coupled with a growing market for network video – good reasons for us to start the subsidiary in Milano."

Milestone Systems, headquartered in Denmark, has had a business model built on strong channels for indirect sales of their Xprotect product line, via more than 100 independent distributors and resellers in almost 50 countries.

The new business in Italy will be run by Elio Argenti, a professional with 25 years of experience in the IT industry from a solid career at Hewlett Packard.

"It is very exciting to be able to work in a business sector that is in transition - just starting to take advantage of new technology – which represents many opportunities," reports Elio Argenti, Sales Manager at Milestone Italia Srl. "In Italy there are many companies who are in a position to make the most of their security by integrating it with their IT networks, cutting costs and improving surveillance coverage. Milestone has the solutions they need."