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Effective immediately, Integrated Cyber Solutions Inc. will be reinstated for trading.
The Company has rectified the situation that gave rise to the suspension.
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Integrated Cyber Solutions Announces Significant Customer Renewal and Expansion of Services
March 13, 2024
Integrated Cyber Solutions Inc. (CSE:ICS) (FSE:Y4G) (“Integrated Cyber” or the “Company”) is pleased to announce the renewal and expansion of services with a longstanding, esteemed client in the power, renewables and infrastructure sector. The client opted to extend their contract and incorporate extra services with Integrated Cyber due to the product consistently and effectively fulfilling their security needs.
In line with Integrated Cyber’s “land and expand” business model, the initial engagement with the client began with the delivery of Managed Detection and Response (MDR) services. Over the years, the Company has consistently enhanced the client's security architecture across various sites. This expansion of services with the client showcases Integrated Cyber's ability to deliver value to the end user, guaranteeing the ongoing fulfillment of their expanding cybersecurity requirements.
Specifically, the expansion of services to the end user will entail managed cyber security awareness and training utilizing the Proofpoint platform. Integrated Cyber will implement new user training, ensure employees who pose a higher risk receive remedial training, train the entire organization monthly, and actively perform phishing attacks to measure and enhance awareness and preparedness.
Additionally, Integrated Cyber will institute for the client continuous vulnerability scanning to identify and help address security vulnerabilities.
About Integrated Cyber Solutions
Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber’s managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer’s environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization.
Contact:
Media Relations Team
email: PR@Integrated-Cyber.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are based on current expectations and projections about future events. Forward-looking statements are often, but not always, identified by words such as ‘anticipate’, ‘expect’, ‘intend’, ‘plan’, ‘believe’, ‘seek’, ‘estimate’, ‘will’, ‘project’, ‘continue’, ‘predict’, ‘potential’, ’target’, ‘forecast’, ‘budget’, ‘goal’, ‘may’, ‘should’, ‘could’, or similar expressions. In this press release, the forward looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of White Rabbit Projects Pte. Ltd., Sagacity Capital Media, Investing News Network, Guerilla Capital, and First Phase Capital; and, in particular, the anticipated effects of the proposed marketing services. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following: economic conditions, industry trends, regulatory changes, competition, technological advancements, and other factors beyond our control. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
cybersecurity stocksartificial intelligence investingcse stockscybersecurity investingcse:icssecurity investingSecurity Investing
ICS:CC
07 June 2024
CSE Bulletin: Reinstatement - Integrated Cyber Solutions Inc.
_________________________________
Avec effet immédiat, Integrated Cyber Solutions Inc. sera réintégrée à la négociation.
La Société a rectifié la situation qui a donné lieu à la suspension.
| Date : | le 7 juin/June 2024 |
| Symbol(s)/Symbole(s) : | ICS |
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Si vous avez des questions ou si vous avez besoin d'informations supplémentaires, veuillez contacter le service des inscriptions au 416 367-7340 ou par courriel l'adresse: Listings@thecse.com.
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07 June 2024
Canadian Investment Regulatory Organization Trade Resumption - ICS
Trading resumes in:
Company: Integrated Cyber Solutions Inc.
CSE Symbol: ICS
All Issues: Yes
Resumption (ET): 1:45 PM
CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .
SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions
View original content: http://www.newswire.ca/en/releases/archive/June2024/07/c4085.html
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03 April 2024
Integrated Cyber Solutions Corrects Statement in Previous Release Issued on April 2, 2024
(TheNewswire)
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Vancouver, British Columbia TheNewswire - April 3, 2024 - Integrated Cyber Solutions Inc. (CSE:ICS) (FSE:Y4G) ("Integrated Cyber" or the "Company") wishes to correct an error in its previously issued press release titled, "Integrated Cyber Solutions Unveils Joint Venture Partnership with Hospitality Company in the Middle East" issued on April 2, 2024.
The error pertains to the status of the relationship with HSG Middle East. We apologize for any inconvenience this may have caused and appreciate your understanding.
The Company intended to announce that it has entered into a Letter of Intent to form a Joint Venture ("JV") partnership ("ICS Middle East") with an established company based in the UAE, HSG Middle East ("HSG"). Since 2012, HSG has been delivering specialized hospitality network and technology solutions across the Middle East. HSG is a member of the Gulf Cooperation Council (GCC), with relationships totaling over 500 hotels and 55,000 rooms in the region.
The purpose of the Joint Venture with HSG will be multi-faceted and strategic by nature. By establishing ICS Middle East, Integrated Cyber seeks to cultivate business alliances involving strategic partnerships with local entities to leverage their expertise and networks. Through this partnership, the Company anticipates gaining access to local market insights, cultural nuances, and regulatory knowledge essential for navigating and participating in this unique regional landscape.
Specifically, ICS Middle East will initially be focused on five key areas to grow its presence and commercial opportunities in the region:
• Collaborate with the UAE Government to develop a credentialing system tailored for individuals, corporations, and government agencies within the UAE
• Maintain focus on delivering cyber services to the power generation industry, leveraging its expertise honed through serving a major electricity generator company with over 15 power plants. It is anticipated that ICS Middle East will be in contention to provide cyber services to a power plant supplying approximately 20% of Dubai's electricity
• Offer cyber services to existing hotel and hospitality clients of HSG, which include prominent names such as EMAAR Hospitality, Fairmont, Hilton, Atlantis, Jumeirah Hotels, Rotana, and Starwood hotels
• Establish a partnership with a leading provider of critical IT services and hardware to the UAE healthcare sector to offer cyber services to the Company's existing client base
• Capitalize on the momentum created by HSG's new office in Riyadh, Saudi Arabia, with plans to replicate the successful approach in the UAE by providing cyber services to hospitality, healthcare, and governmental sectors. This initiative builds upon existing relationships with entities such as the Saudi Arabia National Guard, NEOM, and the Sovereign Investment Fund PIF.
ICS Middle East participated in the ISACA Infosec/Cyber Security 2023 Conference in Dubai, winning the Best Newcomer award. ISACA is a global professional association and learning organization that leverages the expertise of its more than 165,000 members who work in digital trust fields such as information security, governance, assurance, risk, privacy, and quality. It has a presence in 188 countries, including 225 chapters worldwide.
About Integrated Cyber Solutions
Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization.
About Hospitality Solution Group
Hospitality Solution Group (HSG) is a team of seasoned hospitality sourcing professionals who provide supplies and technology solutions in the hospitality sector. With a global outlook and a local focus, they collaborate with manufacturers, consultants, distributors, and end users to enhance and protect the hotel guest experience.
The Company's headquarters in Melbourne, Australia, serves as the hub for its operations, which are complemented by offices and warehousing in Dubai to serve the Middle East region. Leveraging their extensive international experience, they curate innovative products worldwide and establish long-standing relationships with manufacturers.
HSG specializes in highly customized hospitality solutions, ensuring their products seamlessly work with the operations of hotels, restaurants, venues, or offices. More information can be found at: http://www.hospitalitysolutiongroup.com
Contact:
Media Relations Team
email: PR@Integrated-Cyber.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are based on current expectations and projections about future events. Forward-looking statements are often, but not always, identified by words such as 'anticipate', 'expect', 'intend', 'plan', 'believe', 'seek', 'estimate', 'will', 'project', 'continue', 'predict', 'potential',' target', 'forecast', 'budget', 'goal', 'may', 'should', 'could', or similar expressions. In this press release, the forward-looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of White Rabbit Projects Pte. Ltd., Sagacity Capital Media, Investing News Network, Guerilla Capital, and First Phase Capital; and, in particular, the anticipated effects of the proposed marketing services. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following: economic conditions, industry trends, regulatory changes, competition, technological advancements, and other factors beyond our control. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
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02 April 2024
Integrated Cyber Solutions Unveils Joint Venture Partnership with Hospitality Company in the Middle East
(TheNewswire)
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Vancouver, British Columbia TheNewswire - April 2, 2024 - Integrated Cyber Solutions Inc. (CSE:ICS) (FSE:Y4G) ("Integrated Cyber" or the "Company") is pleased to announce that the Company has formed a Joint Venture ("JV") partnership ("ICS Middle East") with an established company based in the UAE, HSG Middle East ("HSG"). Since 2012, HSG has been delivering specialized hospitality supplies and technology solutions across the Middle East. HSG is a member of the Gulf Cooperation Council (GCC), with relationships totaling over 500 hotels and 55,000 rooms in the region.
The purpose of the JV with HSG will be multi-faceted and strategic by nature. By establishing ICS Middle East, Integrated Cyber seeks to cultivate business alliances involving strategic partnerships with local entities to leverage their expertise and networks. Through this partnership, the Company anticipates gaining access to local market insights, cultural nuances, and regulatory knowledge essential for navigating and participating in this unique regional landscape.
Specifically, ICS Middle East will initially be focused on five key areas to grow its presence and commercial opportunities in the region:
• Collaborate with the UAE Government to develop a credentialing system tailored for individuals, corporations, and government agencies within the UAE
• Maintain focus on delivering cyber services to the power generation industry, leveraging its expertise honed through serving a major electricity generator company with over 15 power plants. It is anticipated that ICS Middle East will be in contention to provide cyber services to a power plant supplying approximately 20% of Dubai's electricity
• Offer cyber services to existing hotel and hospitality clients of HSG, which include prominent names such as EMAAR Hospitality, Fairmont, Hilton, Atlantis, Jumeirah Hotels, Rotana, and Starwood hotels
• Establish a partnership with a leading provider of critical IT services and hardware to the UAE healthcare sector to offer cyber services to the company's existing client base
• Capitalize on the momentum created by HSG's new office in Riyadh, Saudi Arabia, with plans to replicate the successful approach in the UAE by providing cyber services to hospitality, healthcare, and governmental sectors. This initiative builds upon existing relationships with entities such as the Saudi Arabia National Guard, NEOM, and the Sovereign Investment Fund PIF.
Previous to the JV, ICS Middle East participated in the ISACA Infosec/Cyber Security 2023 Conference in Dubai, winning the Best Newcomer award. ISACA is a global professional association and learning organization that leverages the expertise of its more than 165,000 members who work in digital trust fields such as information security, governance, assurance, risk, privacy and quality. It has a presence in 188 countries, including 225 chapters worldwide.
About Integrated Cyber Solutions
Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization.
Contact:
Media Relations Team
email: PR@Integrated-Cyber.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are based on current expectations and projections about future events. Forward-looking statements are often, but not always, identified by words such as ‘anticipate', ‘expect', ‘intend', ‘plan', ‘believe', ‘seek', ‘estimate', ‘will', ‘project', ‘continue', ‘predict', ‘potential', 'target', ‘forecast', ‘budget', ‘goal', ‘may', ‘should', ‘could', or similar expressions. In this press release, the forward looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of White Rabbit Projects Pte. Ltd., Sagacity Capital Media, Investing News Network, Guerilla Capital, and First Phase Capital; and, in particular, the anticipated effects of the proposed marketing services. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following: economic conditions, industry trends, regulatory changes, competition, technological advancements, and other factors beyond our control. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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27 March 2024
Cyber Insurance Industry to Experience Above Trend Sector Growth
(TheNewswire)
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Vancouver, British Columbia TheNewswire March 27, 2024 - Integrated Cyber Solutions Inc. (CSE:ICS) (FSE:Y4G). Since 2018, the global cyber insurance market has experienced remarkable growth beyond the industry average, with coverage volumes tripling over that time frame. Today, this insurance domain has generated approximately US$13 billion in gross direct premiums by 2022 and is expected to produce an industry compound annual growth rate (CAGR) of 12.3% from 2023 to 2030.
The cyber insurance market refers to the sector within the insurance industry that provides coverage against losses and damages resulting from cyber incidents and cyber-related risks. This type of insurance typically protects individuals, businesses and organizations against various cyber threats, including data breaches, hacking attacks, ransomware, network outages, and other forms of cybercrime.
Similar to conventional property insurance coverage, cyber insurance policies can offer remediation for a range of expenses to replace, substitute and mitigate the costs associated with the loss of property. Some policies may also include coverage for business interruption losses resulting from cyber events.
While the market involves risk managers, cybersecurity experts, and legal professionals who contribute to assessing risks, developing policies, and managing claims, the cyber industry remains relatively unstructured against the more mature sub-sectors. The absence of a secondary market for risk-sharing, lack of a dependable incident record databases, along with the inadequacy of automated tools for risk assessment collectively places the responsibility on the client to accurately self-assess their risk profile.
This presents a significant liability gap that leaves many companies vulnerable—even those who believe they have sufficient protection.
While the cyber insurance industry remains in its infancy relative to traditional insurance realms, Integrated Cyber Solutions is methodically attempting to tame this chaotic and undefined market. It is doing so led by an experienced leadership team who understands its end user needs, while developing a proprietary platform that is comprehensive and intuitive to operate.
More specifically, ICS has adopted an industry first Cyber Rating System. The purpose of this system is to provide a quantifiable system to balance risk between providers and their clients. The system provides the insurers with a real-time tool to constantly evaluate their clients risk score thus significantly eliminating risk exposure. It is dynamic and able to be customized to each situation while providing an experience database of claims performance to allow actuaries the capability to better assign risk.
At the core of ICS' security infrastructure lies a "Generative AI Model" capable of processing and correlating all activity and reporting it in a humanly understandable manner. The output is a weighted risk score measuring client's real-time readiness. We also incorporate emerging industry regulations as well as part of our service as well.
According to Integrated Cyber Solutions CEO Alan Guibord, navigating the landscape for cybersecurity solutions is immensely challenging due to network complexity and budget outlays: "The abundance of choices, coupled with the intricate jargon and complexity, can render the selection process daunting and perplexing. We have built ICS to exceed the cyber security demands of small and medium sized businesses in a foreboding threat matrix environment."
The Cyber Insurance Industry Presents Future Growth Opportunities
The anticipation that the cyber insurance market will surpass the industry average in future growth is rooted in several key factors. Firstly, the landscape of cyber threats is continuously evolving and becoming more sophisticated with the rapid advancements in technology. Consequently, businesses and individuals are increasingly acknowledging the necessity of cyber insurance to shield themselves from potential financial losses resulting from cyberattacks.
Secondly, there is a notable shift in the regulatory environment worldwide towards stricter regulations concerning data protection and cybersecurity. Compliance with these regulations often mandates investments in cybersecurity measures and insurance coverage, thereby propelling the demand for cyber insurance policies.
The heightened awareness of cyber risks is permeating through businesses of all sizes, largely due to the prominence of high-profile cyber incidents in the media. As a result, more organizations are acknowledging the potential financial ramifications of cyberattacks and are turning to insurance as an integral component of their risk management strategies. This growing awareness is contributing significantly to the expansion of the cyber insurance market.
High Profile Incident | Company | Date |
SolarWinds Attack | SolarWinds | Dec 2020 |
Equifax Data Breach | Equifax | Jul 2017 |
Yahoo Data Breaches | Yahoo | Various |
Marriott International | Marriott | Nov 2018 |
LinkedIn Breach | Apr 2021 | |
Capital One Data Breach | Capital One | Jul 2019 |
As the threat and exploitation matrix increases exponentially across the curve, companies with the vision and wherewithal to develop the tools to navigate this growing market present opportunities to investors. Integrated Cyber Solutions is one such company addressing the needs of organizations both large and small..
About Integrated Cyber Solutions
Integrated Cyber Solutions is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber's managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer's environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization.
Contact:
Media Relations Team
email: PR@Integrated-Cyber.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. These statements are based on current expectations and projections about future events. Forward-looking statements are often, but not always, identified by words such as ‘anticipate', ‘expect', ‘intend', ‘plan', ‘believe', ‘seek', ‘estimate', ‘will', ‘project', ‘continue', ‘predict', ‘potential', 'target', ‘forecast', ‘budget', ‘goal', ‘may', ‘should', ‘could', or similar expressions. In this press release, the forward-looking statements include, but are not limited to, expectations regarding the implementation of marketing and investor relations services of White Rabbit Projects Pte. Ltd., Sagacity Capital Media, Investing News Network, Guerilla Capital, and First Phase Capital; and, in particular, the anticipated effects of the proposed marketing services. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to materially differ from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following: economic conditions, industry trends, regulatory changes, competition, technological advancements, and other factors beyond our control. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Copyright (c) 2024 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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10 January
Cybersecurity Stocks: 10 Biggest Companies in 2025
Cybercrime is a growing concern, and it’s estimated that the annual cost of fighting cyber crime will reach US$10.5 trillion by 2025. Cybersecurity companies are working to address the challenge.
As investor interest in this potentially lucrative sector increases, the Investing News Network (INN) is profiling the top 10 biggest cybersecurity companies by market cap from eSecurity Planet's list of the top cybersecurity companies to watch.
The list from eSecurity Planet features 20 privately held and publicly traded cybersecurity companies across a range of stock exchanges. The firm employed criteria such as user reviews, product features and benefits, analyst reports, independent security tests and use cases to evaluate companies in the cybersecurity sector.
The largest cybersecurity companies by market cap shown below are all listed on the NASDAQ and NYSE. Stock data was current as of market close on January 9, 2025.
1. Microsoft (NASDAQ:MSFT)
Market cap: US$3.16 trillion
Share price: US$424.56
The largest cybersecurity company by market cap is Microsoft. The tech giant is a major player in the cloud security market, which includes cloud native application protection platform (CNAPP) products and services. In fact, Microsoft is the largest CNAPP solution provider, according to KeyBanc Capital.
Prominent cybersecurity firm Security Risk Advisors recently became a member of the Microsoft Intelligent Security Association.
2. Broadcom (NASDAQ:AVGO)
Market cap: US$3.16 trillion
Share price: US$424.56
Global technology firm Broadcom has built a large portfolio of embedded and mainframe security solutions, as well as payment authentication software.
The company broadened its offerings with the Symantec Enterprise Cloud in November 2019 with the acquisition of the enterprise software division of Symantec, which has since changed its name to Gen Digital (NASDAQ:GEN). Broadcom's Symantec offerings include secure access service edge technologies and zero-trust security.
3. Cisco Systems (NASDAQ:CSCO)
Market cap: US$235.78 billion
Share price: US$59.20
For a number of years now, Cisco Systems has increasingly invested in boosting its cybersecurity services. Today, the company offers an array of products for cloud security, endpoint security and security analytics. To address the cybersecurity skills shortage, Cisco offers certification programs for IT professionals.
In response to rising security risks in AI-powered applications, Cisco acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024.
4. IBM (NYSE:IBM)
Market cap: US$206.36 billion
Share price: US$223.18
IBM's security division offers customers an advanced and integrated portfolio of enterprise security products and services. IBM X-Force helps businesses and organizations integrate security solutions into their everyday functions and provides help with risk assessment, incident detection and threat response. The company is harnessing the power of AI to combat cybersecurity threats.
In May 2024, IBM announced new X-Force Red testing services that focus on identifying and mitigating vulnerabilities in generative AI applications and models. Like Cisco, IBM also offers cybersecurity certification programs.
5. Palo Alto Networks (NASDAQ:PANW)
Market cap: US$113.41 billion
Share price: US$172.83
Palo Alto Networks bills itself as “the global cybersecurity leader.” The company’s security portfolio includes advanced firewalls and cloud-based offerings that protect more than 80,000 organizations across their clouds, networks and mobile devices.
An example of its more recently launched offerings include Prisma Cloud, which integrates AI across various security domains, including network security, cloud security and security operations. In October 2024, Palo Alto expanded its offerings to the industrial sector.
6. CrowdStrike Holdings (NASDAQ:CRWD)
Market cap: US$88.36 billion
Share price: US$358.72
CrowdStrike Holdings is a software-as-a-service solutions provider. This team of cybersecurity professionals uses advanced endpoint detection and response applications and techniques in its machine-learning-powered antivirus protection offerings to ensure breaches are stopped before they occur.
This is another major cybersecurity company that is incorporating AI, adding it to its security information and event management (SIEM) offerings.
Its new AI-powered functions for its Falcon Next-Gen SIEM platform were first released in May 2024, including the integration of its Charlotte AI. Then, in July, CrowdStrike announced its Falcon Complete Next-Gen MDR service, which incorporates data from its SIEM platform and AI capabilities.
7. Fortinet (NASDAQ:FTNT)
Market cap: US$73.61 billion
Share price: US$96.04
Fortinet provides end-to-end cybersecurity infrastructure products and services, such as firewalls, antivirus tools, intrusion prevention and endpoint security. The company’s cybersecurity platform can address critical security challenges and can protect data across digital infrastructure systems, whether in networked, application, multi-cloud or edge environments. Fortinet's client base includes major sports teams, including the Vancouver Canucks NHL hockey team and the Pittsburgh Steelers NFL football team.
8. Zscaler (NASDAQ:ZS)
Market cap: US$28.74 billion
Share price: US$187.78
Cloud security company Zscaler’s Zero Trust Exchange platform can be used to secure user-to-app, app-to-app and machine-to-machine communications over any network. The company also offers cloud migrating services. Zscaler is known for setting the standard in the field of security service edge, and it claims the Zero Trust Exchange is the world's most-used security service edge platform.
In December 2024, the company expanded its partnership with IT services and consulting company Cognizant (NASDAQ:CTSH) as the pair work together to help enterprises address cyber threats by providing an advanced, AI-enabled zero trust cloud security platform.
9. Check Point Software (NASDAQ:CHKP)
Market cap: US$20.15 billion
Share price: US$183.19
Check Point Software is part of the unified threat management sector, and it offers a wide variety of products to protect users on mobile, networks and the cloud. It also provides users with various security management services to prevent future cyber attacks and data breaches.
Check Point acquired Avanan, a cloud email and collaboration security company, in 2021. At the end of 2024, technological research and consulting firm Gartner recognized Check Point as a leader in the 2024 Gartner Magic Quadrant for Email Security Platforms.
10. Okta (NASDAQ:OKTA)
Market cap: US$14.64 billion
Share price: US$85.46
Okta is an identity and access management company that provides cloud software solutions for managing and securing user authentication, as well as building identity controls into applications, website services and devices. The company is investing in AI technologies to monitor customer signals and proactively identify potential risks.
Gartner recognized Okta as a Leader in the 2024 Gartner Magic Quadrant for Access Management for the eighth consecutive year.
FAQs for cybersecurity
Is cybersecurity a growing industry?
Cybersecurity is a growing industry — according to Statista, it has a projected CAGR of 7.58 percent between 2025 and 2029, which will allow it to reach a market value of US$271.9 billion. The largest segment within the cybersecurity market is security services, while cloud security is forecast to experience the fastest growth.
What are the current trends in cybersecurity?
Today's top trends in cybersecurity include improvements in preventing and mitigating attacks against cloud services, growth in internet of things devices, the integration of artificial intelligence and machine learning, multi-factor identification and the increasing threat of deepfakes. Cybersecurity companies addressing these current issues in the market may have an advantage in attracting investor attention.
Which cybersecurity stocks pay dividends?
Very few cybersecurity stocks pay dividends; however, Cisco Systems and Juniper Networks (NYSE:JNPR) are two companies that offer dividend payments to their shareholders. Both pay quarterly dividends, with Cisco sporting an annual dividend yield of 2.7 percent, while Juniper Networks comes in at 2.29 percent. The average annual dividend yield for companies in the overall technology sector is 3.2 percent.
This is an updated version of an article first published by the Investing News Network in 2016.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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08 January
Cybersecurity Market Forecast: Top Trends for Cybersecurity in 2025
In today’s digital world, cybersecurity is not just important — it's essential.
The alarming rise in cyberattacks is fueling the demand for cybersecurity solutions; in 2024, we witnessed data breaches targeting large corporations such as AT&T (NYSE:T), Fidelity, Dell (NYSE:DELL) and Snowflake (NYSE:SNOW), and on January 1, 2025, the US accused China of hacking into the Office of Foreign Assets Control and the Office of the Treasury Secretary.
Not only is the frequency of cyberattacks growing, but they are costing companies more. In 2023, an IBM (NSE:IBM) research report found that the average data breach cost in the previous year was US$4.45 million. A 2024 report reveals that the price of a data breach had risen to US$4.88 million between March 2023 and February 2024, attributed primarily to business disruption and post-breach recovery efforts.
As a result, 23.5 percent of organizations surveyed for IBM’s report said they would increase security investments following a breach, and 63 percent said they would raise the price of goods and services as a result of increased cybersecurity spending.
With cyber threats becoming increasingly sophisticated and the cost of breaches skyrocketing, what investment opportunities are available for those looking to capitalize on this critical and growing market?
Market research paints a compelling picture. MarketsAndMarkets projects the global cybersecurity market size will reach US$298.5 billion by 2028, a compound annual growth rate (CAGR) of 9.4 percent from 2022. Grand View Research sets the bar even higher, projecting a market value of US$500.7 billion by 2030.
Both firms highlight emerging opportunities in areas of artificial intelligence (AI) and machine learning (ML) for threat detection and response.
North America, currently dominating the cybersecurity market, is poised for continued growth. In the US, Statista projects revenue growth at a CAGR of 7.12 percent between 2025 and 2029. Meanwhile, Mordor Intelligence estimates Canada’s cybersecurity sector will reach US$24.23 in value.
AI: Cybersecurity's double-edged sword
AI advancements are changing the threat landscape, requiring AI-powered cybersecurity solutions. While AI offers powerful tools to combat cybercrime, it also empowers malicious actors with new and sophisticated methods of attack.
The IBM report highlighted a concerning trend: customer personally identifiable information (PII) remains the most common target for cybercriminals. AI amplifies the potential damage caused by PII breaches, as attackers now have more tools to leverage this information. The report also determined that, despite the benefits of AI and automation in reducing breach costs, only 12 percent of organizations say they have fully recovered from a data breach. Experts foresee AI-powered attacks — along with ransomware, supply chain attacks, deepfakes, and cloud jacking — as major cybersecurity threats in the coming years.
The "weaponization of AI", such as the use of deepfakes and AI-replicated voices, also poses a growing threat, as Mark Fernandes, Global Chief Information Security Officer at CAE, emphasized at the Toronto Global Forum. This trend was substantiated in a report published by The Financial Times on January 1, 2025, that examined AI-generated phishing attempts targeting corporate executives.
Additionally, IBM found that shadow data, the unmanaged data within organizations, was involved in 35 percent of breaches and led to higher costs and longer breach lifecycles. To combat this, a multi-layered approach combining various technologies and strong data governance practices is crucial for effectively managing shadow data risks.
Modern cybersecurity programs leverage a combination of AI-powered solutions. AI-driven Attack Surface Management (ASM) provides continuous visibility into potential vulnerabilities, while AI-powered Security Information and Event Management (SIEM) automates threat detection. AI also enhances posture management by enabling automated red-teaming exercises to proactively identify weaknesses.
Palo Alto Networks (NASDAQ:PANW), for example, offers a platform approach with Prisma Cloud, integrating AI across various security domains, including network security, cloud security and security operations. The company projects its security offerings will lead to continued growth in the second quarter of 2025 after expanding its offerings to the industrial sector and acquiring a cloud-based version of IBM’s AI-enabled QRadar SIEM
CrowdStrike (NASDAQ:CRWD) progressively incorporated AI into its SIEM offering throughout 2024. The company unveiled new AI-powered functions for its Falcon Next-Gen SIEM platform in May 2024, then upgraded the model in July by integrating generative AI with its Falcon Complete Next-Gen MDR service, which co-monitors the IT environment with data collected by its SIEM system. Despite experiencing a major outage in July caused by a faulty update to the Falcon sensor software, CrowdStrike’s Falcon platform and AI integration earned the company the distinction of being named a leader and outperformer in the 2024 GigaOm Radar Report for Ransomware Prevention, with multiple research firms also recognizing CrowdStrike as an innovator in this sector.
Furthermore, AI can now automate red-teaming exercises, simulating attacks to identify vulnerabilities before real attackers do. In May 2024, IBM announced new X-Force Red testing services that leverage generative AI techniques to identify and mitigate vulnerabilities.
AI-driven automation that continuously analyzes security posture and recommends improvements helps ensure optimized defenses. However, organizations must extend their security posture management to encompass the AI models themselves. In AI-powered applications, a rising security risk is prompt injection attacks, where attackers insert malicious instructions to control AI models. Recognizing this need, Cisco (NASDAQ:CSCO) acquired Robust Intelligence, a company specializing in protecting AI systems from vulnerabilities and attacks, in September 2024. According to a press release announcing the deal, the acquisition will “serve as a safety layer for Cisco Security Cloud, providing AI applications and models with default protection.”
While AI provides powerful tools for threat detection and response, its effectiveness can be further amplified by integrating it with other technologies.
The power of blockchain in cybersecurity
Blockchain offers unique capabilities for securing data, building trust, and enhancing resilience through its secure and immutable record of transactions. Each block in the chain contains transaction data and a unique hash, relying heavily on cryptography to ensure data integrity and prevent tampering. This is particularly crucial in the realm of cryptocurrencies, where encryption prevents double-spending and secures the transfer of funds.
This gives blockchains major applications in securing digital identities, transactions and supply chains. Recognizing its potential, tech companies are investing in blockchain cybersecurity.
Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), Oracle (NYSE:ORCL), and IBM are all making significant contributions to the field of blockchain cybersecurity. Microsoft’s Azure Confidential Ledger provides a highly secure environment for storing sensitive data, while Amazon, IBM and Oracle all offer enterprise-grade blockchain platforms and services to facilitate the development of secure applications for various use cases, including supply chain management and data sharing.
Companies like privately-held Guardtime are developing solutions to address existing challenges to implementing blockchain with cybersecurity, such as scalability issues faced by traditional blockchains like Bitcoin. Guardtime’s Keyless Signature Infrastructure (KSI) is based on a special kind of Merkel Tree — a data structure that allows for efficient verification of data integrity without needing to download the entire blockchain — called a hash calendar, which only records the hashes of data at specific time intervals.
Not only does this drastically reduce storage requirements, KSI doesn't rely on a Proof-of-Work consensus mechanism, eliminating the need for energy-intensive computations without compromising the speed of transaction processing.
The quantum leap in cybersecurity
Quantum computing, an emerging technology, utilizes the principles of quantum mechanics to perform calculations beyond the capabilities of traditional computers.
Quantum computing is based on qubits, which can exist in a state of superposition (being in multiple states at once until measured), unlike classical bits, which can be expressed as either 0 or 1. This allows quantum computers to process more data in less time than it would take traditional computers, giving them the potential to revolutionize cryptography.
Although NVIDIA (NASDAQ:NVDA) CEO Jensen Huang suggested that “very useful quantum computers” are likely still 20 years away, quantum computing poses both a risk and an opportunity for cybersecurity. Dr. Michele Mosca from the University of Waterloo's Institute for Quantum Computing argues that while quantum computing may initially appear to threaten cybersecurity by potentially breaking current encryption, it also presents an opportunity to establish stronger and more resilient security foundations for the digital economy.
Google (NASDAQ:GOOGL), a leader in quantum computing research since 2014 and the first to claim quantum supremacy in 2019, achieved a breakthrough with its Willow quantum processor at the end of 2024 when it demonstrated significantly improved error correction and scalability in quantum computing.
This brought the possibility of potentially breaking current encryption methods closer to reality and underscored the urgency of developing and implementing quantum-resistant solutions.
While established players such as IBM continue to advance quantum computing with platforms like Qiskit, new entrants like Quantinuum, backed by investors including JP Morgan (NYSE:JPM), are emerging to build quantum computers and develop applications for them.
Other companies like PQShield, ISARA Corporation and SandboxAQ are developing post-quantum cryptography (PQC) solutions using mathematical algorithms that are believed to be resistant to attacks from both classical and quantum computers. Sandbox AQ, which began as a team within Google, held its latest US$300 million funding round in December, bringing its valuation to US$5.3 billion.
Investor takeaway
The cybersecurity market is a compelling area to watch in 2025. Investors should focus on companies that are adapting to emerging trends, driving innovation and fostering collaboration to protect the future of the digital landscape.
Don’t forget to follow us @INN_Technology or real time updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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17 December 2024
Growing AR Automation Market Offers Fintech Investing Option
In today's rapidly evolving business landscape, businesses are increasingly relying on accounts receivable (AR) automation, a technology revolutionising cashflow management and customer payments, to efficiently manage financial processes and streamline operations. This trend presents a unique opportunity for investors eyeing the next big wave in financial technology.
The pressing need for efficiency in financial processes, coupled with the complexities of global commerce, has created a fertile ground for innovation and growth in the AR automation sector.
Market indicators point to substantial growth potential in this arena. With projections suggesting a doubling of market size within the next decade, AR automation technology companies are poised to capture significant value.
AR automation landscape
AR automation platforms are designed to streamline the process of managing and collecting payments from customers. These systems leverage advanced technologies to help organisations significantly reduce manual tasks, accelerate collections and improve overall cashflow management. The benefits extend beyond mere efficiency; they contribute to better financial health and strategic decision-making capabilities for businesses of all sizes.
The automation of AR processes offers several key advantages:
- Reduction in manual data entry and associated errors
- Faster invoice processing and delivery
- Improved accuracy in payment reconciliation
- Enhanced visibility into cashflow and financial forecasting
- Better customer relationships through consistent and professional communication
Cross-border transactions and complexity
As businesses expand globally, the complexity of managing international payments increases exponentially. Educational institutions and enterprises with a global client base face particular challenges in this arena. The intricacies of dealing with multiple currencies, varying payment methods, and diverse regulatory requirements can be daunting.
AR automation platforms, such as those offered by IODM (ASX:IOD), are specifically designed to address these challenges. By seamlessly integrating with existing accounting systems, these platforms can handle the nuances of international transactions, ensuring smooth operations across borders. This capability is particularly valuable for universities managing tuition payments from international students and for businesses engaged in global commerce.
Market demand and growth potential
The demand for AR automation solutions is surging, driven by the increasing cost of doing business, the need to remain competitive and improve cashflow. This trend is particularly pronounced in sectors like education and global commerce, where the volume and complexity of transactions necessitate sophisticated management tools.
Recent market research paints a compelling picture of the growth potential in this sector:
- The global AR automation market is projected to grow from US$3.2 billion in 2021 to approximately US$6.5 billion by 2030, reflecting a compound annual growth rate (CAGR) of about 10 percent.
- Some forecasts suggest the market could reach US$6.7 billion by 2032, with a CAGR of 10.18 percent from 2024 to 2032.
This robust growth trajectory underscores the increasing recognition of AR automation as a critical tool for modern businesses. For investors, this represents a significant opportunity to participate in a sector that is fundamentally reshaping financial operations across industries.
IODM: Targeted strategy
IODM, an Australian company founded in 2008, exemplifies the trends and opportunities in the AR automation space. The company’s flagship platform, IODM Connect, leverages cutting-edge technology to enhance cashflow management for medium to large enterprises.
IODM's successful track record in handling international payments and forming strategic partnerships has positioned it as a significant player in the market. The company's focus on addressing the needs of sectors dealing with complex cross-border transactions, such as universities and large enterprises with international clients, demonstrates the targeted approach that successful AR automation providers are taking.
Key features of IODM's solution that address specific sector needs include:
- Integration of machine learning and robotic process automation
- Seamless integration with existing accounting systems
- Customisable workflows to match unique business processes
- Multi-currency support for international transactions
As IODM continues to expand its global presence, with offices across Asia, Europe and the USA, it serves as a prime example of the growth potential within the AR automation sector.
Investor takeaway
The rising importance of AR automation in modern business is clear. As companies increasingly recognise the benefits of streamlining their financial processes, the demand for sophisticated AR automation solutions is set to grow substantially. This trend is particularly evident in sectors dealing with complex, cross-border transactions, such as education and global commerce.
For investors, the AR automation market presents a compelling opportunity, with projected growth rates indicating a doubling of market size within the next decade. Companies at the forefront of this technology stand to benefit significantly. Providers that can offer tailored solutions for specific industry needs are well positioned to capture a share of this expanding market.
This INNSpired article is sponsored by IODM (ASX:IOD).This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by IODM in order to help investors learn more about the company. IODM is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with IODM and seek advice from a qualified investment advisor.
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13 September 2024
Microsoft Plans to Reduce Kernel-level Operations for Cybersecurity Vendors Post-outage
Microsoft (NASDAQ:MSFT) announced it is developing a new platform aimed at helping cybersecurity firms operate without accessing the kernel mode of its Windows operating system.
Bloomberg reported that the company’s move comes after an incident in July when an update from CrowdStrike Holdings (NASDAQ:CRWD) caused a widespread outage affecting millions of Windows computers.
On Tuesday (September 10), Microsoft held a meeting with cybersecurity firms to discuss the potential risks of allowing third-party security vendors to access the kernel, the core part of its operating system.
During this meeting, discussions focused on finding ways to reduce the likelihood of future incidents similar to the July outage, which disrupted operations for several industries, including airlines, banks and healthcare providers.
This sparked a debate about whether security vendors should have access to the kernel, as such access carries significant risks when updates or other changes malfunction. The kernel is the core component of an operating system that manages system resources and facilitates communication between hardware and software.
Microsoft is now seeking to find alternative ways for cybersecurity companies to operate while protecting customers. The company will be designing and developing new systems to address concerns raised by both customers and partners. It intends to offer greater reliability without compromising the security functions required by cybersecurity firms.
By moving away from kernel-level operations, Microsoft hopes to reduce the possibility of global outages while still providing robust protection against cyber threats.
Company executive David Weston reiterated this stance during a cybersecurity summit, stating that collaboration with industry players is essential for ensuring a safer and more reliable digital environment. “Both our customers and ecosystem partners have called on Microsoft to provide additional security capabilities outside of kernel mode which, along with safe deployment practices, can be used to create highly available security solutions,” he said.
Weston added that the company is committed to working with cybersecurity vendors to develop solutions that protect users while minimizing risks associated with kernel access.
CrowdStrike, which was at the center of the July incident, expressed its willingness to participate in ongoing discussions with Microsoft and other industry leaders to improve cybersecurity protocols.
The July incident impacted approximately 8.5 million devices, leading to widespread disruptions.
Delta Air Lines (NYSE:DAL), one of the companies most affected by the outage, has since announced that it is pursuing legal action against both CrowdStrike and Microsoft. The airline estimates that the outage cost it more than US$500 million due to flight cancellations and other operational challenges.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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08 August 2024
Adisyn Eyes Underserved SME Market for Tech, Cybersecurity Solutions
Adisyn (ASX:AI1) is doubling down on its SME-focused business strategy, leveraging a multibillion-dollar defence industry supply chain and a highly underserved market.
Managing Director Blake Burton talked to the Investing News Network about the driver for this business strategy.
“There's all these investments coming through. All these (small- and medium-sized) businesses are supplying to defence, (and) manufacturing for defence. But, for lack of a better word, they're clueless when it comes to cybersecurity, protecting their data, making sure they're compliant. So we kind of said, this is a really exciting segment of the market to be targeting,” he said.
“When it comes to cybersecurity, when it comes to tech, it's like a second language to (SMEs). So that's our bread and butter, right? That's what we've always focused on. That's what we're pushing ahead with moving forward," Burton added.
He also spoke about Adisyn’s binding collaboration agreement with 2D Generation to develop transformational opportunities in the artificial intelligence (AI) space. The agreement leverages Adisyn’s expertise in data centre management, managed IT services and cybersecurity, and 2D Generation’s industry-leading capabilities in developing next-generation AI semiconductor solutions.
“Definitely watch this space, because … it's going to be, within 10 years, like a trillion-dollar market. So if we can kind of add our expertise to 2D Generation, I think that's definitely going to be one to watch,” Burton said.
Watch the full interview with Adisyn Managing Director Blake Burton above.
Disclaimer: This interview is sponsored by Adisyn (ASX:AI1). This interview provides information which was sourced by the Investing News Network (INN) and approved by Adisyn in order to help investors learn more about the company. Adisyn is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Adisyn and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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19 July 2024
Tech 5: CrowdStrike Outage Causes Major Disruptions, Tech Stocks Face Turmoil
Markets reacted to the attempted assassination of Former US President Donald Trump, with analysts predicting it could increase his re-election odds.
Meanwhile, a global tech outage disrupted systems across multiple industries, and Bitcoin and Ether prices fluctuated, influenced by factors such as the likelihood of Ether exchange-traded funds (ETFs) being approved by next week.
Stay informed on the latest developments in the tech world with the Investing News Network's round-up.
1. US markets fluctuate amidst political turmoil and rate-cut speculation
At the start of the week, markets reacted to the aftermath of an assassination attempt on Trump, with analysts predicting that it could increase his odds of re-election in November.
Against that backdrop, US Federal Reserve Chair Jerome Powell addressed the Economic Club of Washington, remarking that recent inflation readings, including last week’s data, “do add somewhat to confidence."
In Canada, Tuesday’s (July 16) consumer price index reading showed a 2.7 percent year-on-year increase in June, down from 2.9 percent in May, prompting discussions of a potential second interest rate cut in July. The S&P/TSX Composite Index rose even higher to a close of 22,995.39, a fourth consecutive record high close.
Multiple US indexes performed positively that day, with the Dow Jones Industrial Average (INDEXDJX:.DJI) also reaching a new all-time closing high of 40,954.48. The Russell 2000 Index (INDEXRUSSELL:RUT) scored its fifth consecutive winning streak, its longest since 2000. The S&P 500 (INDEXSP:.INX) also closed up on Tuesday. However, the Nasdaq 100's (INDEXNASDAQ:NDX) gains were limited by weaker performances from mega-cap stocks such as NVIDIA (NASDAQ:NVDA) and Microsoft (NASDAQ:MSFT) as small caps extended their rally.
Chip stocks fell on Wednesday (July 17) after a report revealed that the Biden administration is considering further trade restrictions against China. The news brought the PHLX Semiconductor Sector (INDEXNASDAQ:SOX) down by 6.8 percent, its biggest one day drop since March 2020. Compounding the downturn was the revelation of comments made by Trump regarding Taiwan paying the US for its defense against China.
Stocks closed lower across the board as a result, apart from the Dow Jones, which ended at a new record high of 41,198.08 for the third day in a row. The Nasdaq and S&P 500 closed 2.8 and 1.4 percent lower, respectively, led by losses to NVIDIA and Apple (NASDAQ:AAPL). The S&P/TSX Composite Index experienced a decline of 0.6 percent, leaving it at 22,851.17 and bringing an end to its run of consecutive record-breaking closing highs.
Taiwan Semiconductor’s (NYSE:TSM,TPE:2330) quarterly results, released on Thursday (July 18), helped lift the Nasdaq and S&P 500 at the open; however, the gains were reversed as the VIX (INDEXCBOE:VIX) reached its highest level since early May, triggering a selloff. By the end of the day, the Dow Jones had fallen 1.29 percent, the S&P 500 had lost 0.78 percent, the Nasdaq had dropped 0.7 percent and the S&P/TSX Composite Index was down 0.5 percent.
On Friday (July 19), Wall Street’s main indexes opened lower as a global tech outage impacted all sectors. This ended a turbulent week that represented the Nasdaq and S&P 500’s worst since April, feeding fearful investor sentiment toward tech stocks. At the closing bell, the Dow Jones was down 0.93 percent, the S&P 500 dropped by 0.71 percent, the Nasdaq fell 0.81 percent and the Toronto Stock Exchange’s S&P/TSX Composite Index slid by a modest 0.2 percent.
2. Tech outage disrupts industries around the world
A global tech outage caused by CrowdStrike (NASDAQ:CRWD) disrupted systems across multiple industries early on Friday, causing delays to operations in banking, healthcare and media, as well as impeding air travel schedules.
The event was triggered by an update to CrowdStrike’s Falcon Sensor software, a component of the cybersecurity firm’s security operations center platform designed to detect viruses and cyber threats running on Windows operating systems.
CrowdStrike sent an alert to its clients at 5:30 a.m. GMT, and soon after released a statement on its website.
"Today was not a security or cyber incident. Our customers remain fully protected," CrowdStrike CEO George Kurtz reassured users via a post on X, formerly known as Twitter, some hours later.
CrowdStrike promptly identified the root of the cause to be a defect in a content update for Windows hosts. The company began working on solutions to address the issue, with full instructions and resources available on the company’s blog. However, the impact of the crash reverberated across governments and organizations around the world, and the time it took for the fix to be fully deployed depended on individual circumstances.
For devices simply requiring a reboot to apply the update, the solution was able to be swiftly applied. In other cases, the longer process of a manual intervention was required. The length of time also depended on the size and complexity of an organization’s IT infrastructure, as the solution would need to be applied across all systems.
The situation was still unfolding as of 7:00 p.m. EDT on Friday.
3. Bitcoin, Ether prices advance
Bitcoin and Ether showed notable price fluctuations at the start of the week, with both growing by approximately 5 percent in 24 hours, starting the week at US$62,732 and US$3,350, respectively, at 9:00 EDT. The rally was attributed to the perceived higher probability of a Trump victory in the wake of the assassination attempt and the increasing likelihood of Ether ETFs being approved. Ether’s price continued to rise throughout the day, peaking at US$3,489 at 20:00 EDT.
On Tuesday, Bitcoin was priced at US$63,774 and Ether at US$3,409 just before the opening bell. Both experienced volatility through the day and were valued at US$65,144 and US$3,480, respectively, at the closing bell.
Meanwhile, Farside data shows a record daily inflow of US$422 million into spot Bitcoin ETFs on Tuesday, causing the price of Bitcoin to surge 3 percent overnight to US$65,200. Ether also saw significant gains of 2 percent.
A modest devaluation was observed on Wednesday at 9:10 EDT, with Bitcoin valued at US$64,734 and Ether at US$3,46.
Glassnode data released on Wednesday shows that balances across US spot Bitcoin ETFs had reached 900,636 Bitcoin worth more than US$63 billion. As of July 18, the combined cryptocurrency market cap was up 12 percent despite volatility observed throughout the week. Bitcoin was priced at US$63,514 and Ether at US$3,407 at 14:00 EDT.
Friday’s global tech outage, which had a widespread impact, had virtually no effect on the crypto industry, underscoring the strength of decentralization. Despite a dip in price Friday morning — US$64,332 for Bitcoin and US$3,411 for Ether at 9:05 EDT — on the heels of renewed speculation regarding US President Joe Biden’s position as the Democratic nominee, the price of Bitcoin rose to US$67,265 at 16:05 EDT on Friday, while Ether rose to US$3,523.
4. Google may bet on cybersecurity in record-breaking deal
CNBC reported on Sunday (July 19) that Alphabet’s (NASDAQ:GOOGL) Google is in early negotiations to acquire Wiz, a cybersecurity firm. Sources did not provide details, only disclosing that the deal is expected to close “soon.”
In May, Wiz was rumored to be gearing up for an IPO, at which time it had a valuation of US$12 billion. The company’s comprehensive cloud presence offers an attractive solution for large enterprises with substantial computing requirements, allowing them to efficiently manage and optimize their digital infrastructure.
The deal, reported to be worth US$23 billion, would be the largest acquisition in Google’s history and would give the company an advantage over competing cloud providers like Amazon (NASDAQ:AMZN) and Microsoft.
5. SEC sets launch date for Ethereum ETFs
Ethereum saw a significant increase in its valuation after Nate Geraci took to X to weigh in on his prediction regarding the highly-anticipated approval of Ethereum ETFs on Sunday afternoon.
“Welcome to spot eth ETF approval week … I’m calling it. Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point. Issuers ready for launch,” he posted, prompting a 5 percent price increase for Ethereum in six hours. Geraci is co-founder of the ETF Institute.
The next day, Bloomberg ETF analyst Eric Balchunas confirmed Geraci's prediction:
“Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday (July 15) after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course!”
On Wednesday, the US Securities and Exchange Commission (SEC) further stirred enthusiasm by approving the Grayscale Mini Spot Ether ETF. “After careful review, the Commission finds that the Proposals are consistent with the Exchange Act and rules and regulations thereunder applicable to a national securities exchange,” the SEC said in a document. “It is therefore ordered… that the proposals be, and hereby are, approved.
On Friday, the Chicago Board Options Exchange announced that the Franklin Templeton Ethereum ETF will commence trading as a novel listing on July 23; however, the launch would be contingent upon regulatory approval.
Don't forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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