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Terror Spurs Disaster Recovery

Threats to the the safety of financial firms in the New York City and Washington, D.C., areas have drawn attention to the burgeoning market in disaster recovery products and services.

Indeed, several announcements about new DR solutions came out today, even as U.S. Secretary of Homeland Security Tom Ridge held a press conference in New York to address new warnings issued this week by the Department of Homeland Security.

Today's news included a new deal between backup-and-recovery software maker EVault Inc. and SunGard (NYSE: SDS), which now will sell EVault solutions worldwide; new replication software from Veritas Software Corp. (Nasdaq: VRTS) (see Veritas Releases Replicator); and an agreement by which FalconStor Software Inc. (Nasdaq: FALC) will be marketed as part of a French disaster recovery consultancy's services (see FalconStor Signs With D2B Informatique).

Ridge announced Sunday that government agencies have picked up rumblings of attacks planned by Al-Qaeda against the Washington headquarters of the International Monetary Fund and the World Bank Group; the Newark, N.J., headquarters of Prudential Financial; and buildings belonging to Citigroup and the New York Stock Exchange in New York City.

Ridge told reporters earlier this week that terrorists are mainly interested in blowing up physical facilities, though they also seem intent on disrupting data processes. Today, in a press conference with New York Governor George Pataki and New York City Mayor Michael Bloomberg, he said that despite reports that some of the Sunday's intelligence is over four years old, the threats remain urgent: "I don't want anyone to disabuse themselves of the seriousness of this information," he said.

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