FinancialBuzz.com News Commentary
New York, NY (3/10/2021) – An extensive layer of cybersecurity is often required for business infrastructure or government agencies in order to protect sensitive information and consumer data in the modern world. The Russian hack, which occurred late last year, and is being called the largest act of espionage in U.S. history, is an example of just how prevalent the threat is. According to a report by the Associated Press, the hack compromised federal agencies and “critical infrastructure” in a sophisticated attack that was hard to detect and will be difficult to undo, the Cybersecurity and Infrastructure Security Agency said in an unusual, warning message. In addition, several tech companies, including Microsoft, have also commented on the hack, with the technology conglomerate explaining in a blogpost that “it’s critical that we step back and assess the significance of these attacks in their full context. This is not ‘espionage as usual,’ even in the digital age. Instead, it represents an act of recklessness that created a serious technological vulnerability for the United States and the world. In effect, this is not just an attack on specific targets, but on the trust and reliability of the world’s critical infrastructure in order to advance one nation’s intelligence agency.” Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF), Fortinet, Inc. (NASDAQ: FTNT), Proofpoint, Inc. (NASDAQ: PFPT), Zscaler, Inc. (NASDAQ: ZS), Absolute Software Corporation (NASDAQ: ABST)
In response, a federal agency has been established. According to a statement by the Department of State, the new Bureau of Cyberspace Security and Emerging Technologies (CSET) will lead U.S. government diplomatic efforts on a wide range of international cyberspace security and emerging technology policy issues that affect U.S. foreign policy and national security. This includes securing cyberspace and critical technologies, reducing the likelihood of cyber conflict, and prevailing in strategic cyber competition. Overall, according to data published by Mordor Intelligence, the cybersecurity market was valued at USD 161.07 Billion in 2019 and is expected to reach USD 363.05 Billion by 2025, while registering a CAGR of 14.5% during 2020-2025.
Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF) announced earlier this week breaking news regarding the, “expansion of its direct sales team as well as the grant of stock options to its employees and a Director of the Company.
Expansion of Direct Sales Team
Given the rising demand for cybersecurity solutions across various industry verticals, the expansion of the direct sales team will increase Plurilock’s outreach in delivering authentication solutions to a wider audience. The new members of the direct sales team will be tasked with executing numerous sales initiatives to promote the Company’s cybersecurity offerings to companies in North America in order to grow Plurilock’s client base.
The first hire brings immense experience in organizational development and client relations as well as a strong analytical background, having previously worked as a software engineer and a solutions architect in leading cyber intelligence firms. The other new addition to the sales team is a US Armed Services veteran who has held leadership roles in cybersecurity and information technology within large financial services firms and information security companies such as BNY Mellon and JP Morgan Chase. Collectively, the new additions will draw on their expertise to educate prospective clients about the key advantages of Plurilock’s state-of-the-art solutions in order to secure new client contracts.
‘The expansion of our direct sales team represents an integral step for us to grow our North American client base,’ said Ian L. Paterson, CEO of Plurilock Security Inc. ‘By expanding our direct sales team, we hope to engage more companies across various sectors that require a strong cybersecurity infrastructure.’
The new additions are part of Plurilock’s direct sales strategy, which will complement its extensive channel-led sales strategy, resulting in a diversified approach to increase the Company’s client outreach…
About Plurilock: Plurilock is an innovative, identity-centric cybersecurity company that reduces or eliminates the need for passwords, extra authentication steps, and cumbersome authentication devices. Plurilock’s software leverages state-of-the-art behavioral-biometric, environmental, and contextual technologies to provide invisible, adaptive, and risk-based authentication solutions with the lowest possible cost and complexity. Plurilock enables organizations to compute safely-and with peace of mind.”
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Fortinet, Inc. (NASDAQ: FTNT) announced on January 26th, a new Extended Detection and Response (XDR) solution, FortiXDR, designed to reduce complexity, speed detection, and coordinate response to cyberattacks across the organization. FortiXDR is the only solution of its kind to leverage artificial intelligence (AI) for the investigation effort critical to incident response. Expanding on the cloud-native endpoint platform of FortiEDR, it enhances an organization’s Security Fabric and the threat protection powered by FortiGuard Labs security services. Specifically, FortiXDR can fully automate security operations processes typically handled by experienced security analysts to mitigate threats faster across the broad attack surface. “Cybercriminals are using sophisticated—and increasingly intelligent—tools to target vulnerable network edges resulting from digital innovation. As a result, organizations need smarter, faster security operations to combat sophisticated, organized cybercrime. FortiXDR is the only XDR solution that leverages artificial intelligence to replicate the hands-on investigation that otherwise leaves organizations playing catch up. Applied across the Security Fabric platform, it helps enterprises keep pace with today’s accelerating threat landscape, even for organizations limited by small teams and few tools.”
Proofpoint, Inc. (NASDAQ: PFPT) announced back in November that it has been named the winner of the “Overall Enterprise Email Security Solution Provider of the Year” award in the fourth annual CyberSecurity Breakthrough Awards program conducted by CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market today. “Proofpoint is a pioneering leader in the cybersecurity industry and their continued commitment to innovation and breakthrough detection and protection techniques are unparalleled,” said James Johnson, managing director, CyberSecurity Breakthrough. “We fully anticipate that business email compromise (BEC) and other enterprise email threats will continue to increase in volume and complexity, and we are pleased to see Proofpoint tackle this challenge head-on with an extremely powerful and targeted platform to keep email communications flowing. Congratulations to Proofpoint on their continued success and well-deserved 2020 CyberSecurity Breakthrough Award.”
Zscaler, Inc. (NASDAQ: ZS) announced last year Zscaler Cloud Protection, a comprehensive portfolio that simplifies and automates protection for workloads on and between any cloud platform. The new solution minimizes attack surface and automates globally enforced security policies across organizations’ multi-cloud footprint. This extends a zero-trust approach to cloud workloads, delivering the same high performance and reliability that over 4,500 Zscaler customers trust to protect private application and internet access. “Hub International has embraced a cloud-first strategy to drive aggressive growth,” said Jeremy Embalabala, Vice President, Information Security at HUB International. “Zscaler Cloud Protection helps us deliver security and compliance across our growing, multi-cloud environments. Continuous assurance and automation ensure that we are always aware of our security posture, regardless of how fast things change.”
Absolute Software Corporation (NASDAQ: ABST) announced last year new capabilities that provide IT and Security teams with advanced insights into software and web usage across their distributed endpoint device fleets. With absolute’s new Software Inventory and Web Usage analytics, organizations can maximize returns on software investments and find potential cost savings; help ensure employees have the tools they need to work productively and securely from anywhere; and identify potential security vulnerabilities or blind spots arising from unsanctioned, insecure apps or web content. “With devices staying largely off-network in the new world of remote and hybrid work models, IT departments face multiple challenges when it comes to having a complete picture of what software has been purchased and deployed, whether the apps being used are sanctioned or fully updated, and where they may have gaps in security or productivity,” said Ameer Karim, EVP of Product Management at Absolute.
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