WebSpy (WSY)

Shares / Stock Code

WSY

Stock Exchange / Sharemarket

ax

WebSpy (WSY) is engaged in the development, marketing, and maintenance of two major software applications, WebSpy and Inspection Manager. WebSpy products provide internet and email monitoring capabilities for the purpose of improving employee productivity and complying with privacy regulations. Roughly 80% of sales are from the US and European markets. Inspection Manager is a sub-sea oil and gas rig management system that improves the maintenance of sub-sea oil and gas structures (rigs, pipelines, etc). WSY shares are traded on the Australian stock market.

Webspy has been established for 10 years and has products in 50 different countries. Its offices are located across Europe, Asia Pacific, and the US. It was first listed on the Australian Securities Exchange (ASX) in 1996, and its head office is located in West Perth. The Company’s subsidiaries include WebSpy UK Limited, Netlink Unit Trust, Netlink (WA) Pty Ltd and WebSpy US Inc. On May 29, 2008, the Company disposed of its 100% interest in Netlink Inspection Pty Ltd to Wood Group. In November 2009, the Company completed the acquisition of Marketboomer group of entities (Marketboomer Group).

Despite the market still being at an emerging stage of development, WSY benefits from the fact that the supply side of the internet monitoring market is concentrated, with only two major global suppliers including WSY. In this context, WSY can directly benefit from the strong value proposition of monitoring applications compared to substitute blocking/filtering products. The latter products suffer from greater operating costs and practical difficulties in keeping blocked sites up-to-date.

Webspy's main customers include other Internet management service providers that operate in Australia. WebSpy solutions now are used by more than 6000 customers. Clients include multi nationals, states and local government agencies, education and small to medium sized businesses. These include the New Zealand Educational Institute, Reynolds and Reynolds, Swedish Municipal Agency, Care Australia and the Australian Accounting Standards Board.

WebSpy’s solutions analyze the raw data (log files) that common network devices, such as web servers, email servers, and security devices produce. The majority of competing log file analyzers are hard-coded to analyze a particular log file type, forcing organizations to use different analyzing software for different log file types to meet reporting requirements.

WebSpy's software intelligently and efficiently imports and analyzes more than 200 log formats from many different vendors. WebSpy's clients only need one application to achieve all their log file reporting requirements, spending less on software maintenance, hardware and administration. WebSpy’s solutions are unobtrusive, scalable and available in different ranges to suit any organizational size or budget. The software solutions do not require the installation of individual monitoring agents, additional network configurations or server installations.