Recent Events Reiterate the Importance of Sophisticated Cybersecurity
NEW YORK, Feb. 5, 2021 /PRNewswire/ -- The recent surge of data breaches, business and agency hacks are just some of the reminders of how fragile our information infrastructure is. According to a report by NPR from December, hackers attached their malware to a software update from SolarWinds, a company based in Austin, Texas. Many federal agencies and thousands of companies worldwide used SolarWinds' Orion software to monitor their computer networks. Now, the cybersecurity company Trustwave informed SolarWinds that it has identified three new "critical" flaws in software produced by SolarWinds. According to a report by NBC News, SolarWinds has released a patch to fix the security flaws, and neither company found evidence that hackers had exploited the vulnerabilities. Yet, the findings raise new questions about security at SolarWinds, which provides information technology software to government agencies and most Fortune 500 corporations. Plurilock Security Inc. (TSX-V: PLUR) (OTC: PLCKF), SolarWinds Corporation (NYSE: SWI), McAfee Corp. (NASDAQ: MCFE), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), Equifax Inc. (NYSE: EFX)
Overall, the cybersecurity market covers a wide range of applications, emphasizing on safeguarding computers, programs, networks, and data from unlicensed or unprompted access. Furthermore, various software solutions such as antiviruses and firewalls have grown in complexity and proven to be effective at preventing threats and attacks, such as malware, Trojans, and phishing. Overall, it is the large enterprises segment that held the highest cyber security market share in 2019. And, according to data provided by Allied Market Research, the cyber security market size was valued at USD 149.67 Billion in 2019 and is projected to reach UDS 304.91 Billion by 2027 while growing at a CAGR of 9.4% from 2020 to 2027.
Dr. Tighe was commissioned as a cryptologist who graduated from the Naval Postgraduate School, Monterey, California, with a Master of Science in Applied Mathematics and a Doctorate in Electrical Engineering.
Over a 20-year federal career, Dr. Tighe served as the Deputy Chief of Naval Operations for Information Warfare, Director of Naval Intelligence, Fleet Commander of the U.S. Fleet Cyber Command, and Deputy Director of Operations in the U.S. Cyber Command. As a managing director and technology leader on the corporate board of the U.S. Navy, Dr. Tighe was responsible for providing digital expertise and planning to support core infrastructure, many thousands of air and sea craft, and hundreds of thousands of federal employees.
As a senior leader and seasoned cyber operations expert, Dr. Tighe has followed her storied national service career by sitting as an independent director on the boards of Goldman Sachs, IronNet Cybersecurity, Progressive Insurance, and Huntsman Chemical.
'Plurilock's use of AI for identity assurance is quite compelling as they seek to deliver innovative authentication solutions that can protect against both insider and cyber threats,' said ADM Tighe. 'Given that Plurilock's authentication technology is designed to solve many of today's cyber-related problems, I am excited to assist this groundbreaking company in bringing their technology to a wider audience.'
'We are delighted to have Dr. Jan Tighe onboard at Plurilock where her guidance in mission critical cybersecurity work will be vital in expanding our outreach to security conscious enterprises across North America,' said Ian L. Paterson, CEO of Plurilock. 'With our company currently in growth phase, having a retired Vice Admiral on our advisory board will enable us to establish a stronger presence in the North American and Federal Government verticals.'
Plurilock granted Dr. Tighe an option to acquire 50,000 shares at an exercise price of $0.50 per share and vesting over three years from the date of grant."
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SolarWinds Corporation (NYSE: SWI) announced back in December updates in response to the SUPERNOVA malware for all supported versions of SolarWinds® Orion® Platform products and a fix for customers on unsupported versions of these products. Third parties and the media have publicly reported on a malware, now referred to as SUPERNOVA. Based on SolarWinds' investigation, this malware could be deployed through an exploitation of a vulnerability in the Orion Platform. Like other software companies, SolarWinds seeks to responsibly disclose vulnerabilities in its products to customers, while also mitigating the risk that bad actors seek to exploit those vulnerabilities, by releasing updates to their products before the company discloses the vulnerabilities. SolarWinds provided two hotfix updates on December 14 and 15, 2020, that contained security enhancements, including those designed to prevent certain versions of the Orion Platform products from being exploited in a SUPERNOVA attack.
McAfee Corp. (NASDAQ: MCFE) reported earlier in December that McAfee MVISION Insights has been named the winner of the "Endpoint Security Solution 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. McAfee MVISION Insights leverages McAfee's cutting-edge threat research, augmented with sophisticated Artificial intelligence (AI) applied to real-time threat telemetry streamed from over 1 billion sensors. The integration of MVISION Insights significantly enhances the capabilities of McAfee's endpoint security platform by managing the attack surface, preventing ransomware and aiding security teams to easily investigate and respond to advanced attacks.
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) announced last December the release of the annual CrowdStrike Services Cyber Front Lines Report, which brings together the insights and observations of CrowdStrike's global incident response (IR) and proactive services teams in 2020. reveals the broad-reaching impact remote work has had on cybersecurity, as corporate networks around the world were turned inside out to accommodate remote workers. "Remote work has redefined the playing field between cyber attackers and defenders, and that's clearly demonstrated in the CrowdStrike Services Cyber Front Lines Report. Corporate networks now span both office and home, providing a wealth of new attack surfaces and vectors that adversaries can exploit," said Shawn Henry, chief security officer and president of CrowdStrike Services at CrowdStrike. "Holistic coordination and continued vigilance are key in detecting and stopping sophisticated intrusions. Because of this, we're seeing a necessary shift from one-off emergency engagements to continuous monitoring and response. This will better enable incident response teams to help customers drastically reduce the average time to detect, investigate and remediate from 162 hours to less than 60 minutes."
Equifax Inc. (NYSE: EFX) reported last month that it has signed a definitive agreement to acquire Kount, a provider of Artificial Intelligence (AI)-driven fraud prevention and digital identity solutions, for $640 million. As global digital transformation accelerates, driving customer interactions to digital channels in record numbers, businesses require new ways to establish digital identity trust in real time to fight the growing problem of online fraud while reducing customer friction. This acquisition will expand the Equifax worldwide footprint in digital identity and fraud prevention solutions, helping businesses better engage with their customers while combating fraud with the Kount Identity Trust Global Network - the industry's leading risk-based authentication platform.
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