As a result, Novell's pro-rata sales revenue has not fallen on the Hungarian market despite the crisis, he added. The Hungarian company is not allowed to publish local business and financial data due to the parent company's stipulations.

Hargitai said they do not expect to see recovery on the IT market before the second half of next year.

He said Novell's security-related software systems are primarily sought by financial businesses in the segment of large companies, partly because they are required by the regulations to store log files related to business and customer service.

Hargitai said a Hungarian financial institution possessing more than 300 applications may accumulate 5-10 terabytes worth of information per year, and this figure grows considerably year by year. This amount of information cannot be processed manually.

Hargitai said this is important because Hungarian companies and institutions are also subject to safe storage and analysis and compliance requirements such as PSzÁF and Basel II regulations, the Sarbanes-Oxley act, which concerns subsidiaries of companies listed on the New York Stock Exchange, the HIPAA, which affects health care institutions, and the PCI DSS, which concerns companies handling bank card data. (MTI – Econews)