The former hardware company (Vasco) is transforming to software company, looking to extend its hardware security business to software as well. However it's been about 3 years that the company is marching at the place after acquiring several start ups in Montreal. The following is public information: About 2 years ago the CEO was fired and high level management was changed as well. Then a new CEO found a year ago started another round of seeking efficiency and profit in the company to satisfy the investors. It required auditing company to determine which product is profitable and should be further developed and what should be dropped. Meanwhile there was a wave of laying sales off and at late spring 2022 laying engineers off internationally and in between many highly qualified engineers and low level managers left by their own By loosing so much time and work force the company lost the momentum with the products acquired with the start ups and it would be hard to recover despite the products are good with good potential. Unfortunately the company also invested a lot of money into the new Montreal office which was just opened a couple of months before the pandemic started and now it's almost empty costing to company a lot (partially subleased already). The management tries to satisfy the investors as it looks like now, rather by a false optimism and new strategy plan and the feeling that the ship is sinking so far.
