Antivirus company Norman Data Defense Systems has floated its former Ibas data recovery subsidiary on the Oslo Stock Exchange so that it can concentrate on sales of its anti-virus sand security software.
The vendor sells its Norman Virus Control and Sandbox line of products mostly to mid-sized businesses but also resells anti-spam and spyware packages. Almost two thirds of Norman’s software sales are currently taking place in Europe.
Norman maintains its corporate headquarters in Lysaker, Norway, and its North American headquarters in Fairfax, Virginia where it trades as Norman Data Defense Systems Inc.
The Ibas flotation will reduce Norman’s gross operating revenue by just over 25%, but will strengthen the company’s profit margin.