Plymouth Rock Technologies Inc. (PRT) has announced a name and symbol change to Aether Global Innovations Corp. (AETH)
Shares will begin trading under the new name and symbol and with a new CUSIP number on August 1, 2023.
Plymouth Rock Technologies Inc. (CSE:PRT ) (OTC:PLRTF ) (Frankfurt: XA ) ( WKN#A2N8RH) (“Plymouth Rock ”, “PRT ”, or the “Company ”), announces the Company intends to issue 2,600,000 Common Shares at a deemed price of $.065 CDN per Common Share, to settle $169,000 CDN of debt due to Canaccord Genuity Corp. for advisory services. The shares issued to complete the settlement of debt will not result in a change of control. Upon completion of the issuance, the Company will have 95,597,461 Common Shares issued and outstanding.
Furthermore, the Company announces the resignation of director Dana Wheeler, and has appointed Alan Treddenick as a new director to the Board. Alan is the CEO of ATNOH Group, a Global Public Safety and Risk Consultancy. Prior to founding the company Alan spent 32 years with the Canadian Security Intelligence Service (CSIS) and the Royal Canadian Mounted Police (RCMP), involved in extensive counter terrorism HUMINT operations within Canada and abroad. Upon retiring from government service, Alan joined BlackBerry’s Government Relations division and established a team to lead BlackBerry's strategic relationships with law enforcement, intelligence, and security agencies around the globe on national security, sensitive crimin al investigations, and other regulatory issues focused on lawful access and market access concerns. Alan is a graduate of Queen's University, the RCMP Training Academy, and the Canadian Police College.
“The Company and the board would like to thank Dana for all his contributions to Plymouth Rock Technologies since launch back in 2016 and wish him much success in his new endeavours,” shared Douglas Smith, Chairman of Plymouth Rock Technologies. “We’re also excited to welcome Alan Treddenick to the Board of Directors and look forward to his expertise in moving the business forward.”
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging and takeoff.
ON BEHALF OF THE BOARD OF DIRECTORS
Philip Lancaster, CEO
+1 (250) 863-3038
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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Plymouth Rock Technologies Inc. (PRT) has announced a name and symbol change to Aether Global Innovations Corp. (AETH)
Shares will begin trading under the new name and symbol and with a new CUSIP number on August 1, 2023.
Disclosure documents are available at www.thecse.com.
Please note that all open orders will be canceled at the end of business on July 31, 2023. Dealers are reminded to re-enter their orders.
_________________________________
Plymouth Rock Technologies Inc. (PRT) a annoncé un changement de nom et de symbole pour Aether Global Innovations Corp. (AETH)
Les actions commenceront à être négociées sous le nouveau nom et le nouveau symbole et avec un nouveau numéro CUSIP le 1 août 2023.
Les documents d'information sont disponibles sur www.thecse.com.
Veuillez noter que toutes les commandes ouvertes seront annulées à la fin des activités le 31 juillet 2023. Les concessionnaires sont priés de saisir à nouveau leurs commandes.
Effective Date/ Date Effective : | Le 1 août/August 2023 |
Old Symbol/Vieux Symbole : | PRT |
New Symbol/Nouveau Symbole : | AETH |
New CUSIP/ Nouveau CUSIP : | 00810E 10 9 |
New ISIN/ Nouveau ISIN : | CA 00810E 10 9 7 |
Old/Vieux CUSIP & ISIN : | 730020104/CA7300201042 |
If you have any questions or require further information, please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Pour toute question, pour obtenir de l'information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l'adresse: Listings@thecse.com.
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Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) ( Frankfurt:4XA ) ( WKN#A2N8RH) (" Aether Global Innovations ", " AETH ", or the " Company "), is pleased to announce it has changed its name to Aether Global Innovation s Corp . Effective at the opening August 1, 2023, the Company will begin trading on the CSE under the symbol AETH . The Company's new CUSIP is 00810E109 and ISIN is CA00810E1097. The new website for Aether Global Innovation Corp (CSE: AETH ) is www.aethergic.com
Aether Global Innovations Corp., "The Fifth Element - The Medium of Space" signifies the transformative power of AI, data, and automated drones in domestic services and security. It represents the integration of advanced technologies, where AI processes real-time data for insights and automated drones to execute tasks efficiently. This paradigm shift enhances situational awareness, response, and resource allocation, revolutionizing domestic and security applications.
"We're excited to introduce Aether Global Innovations to the marketplace," shared Phil Lancaster CEO and President of Aether Global Innovations. "We spent a lot of time exploring what was and what wasn't working within the organisation and speaking with industry leaders in the drone space regarding the future of drone technology. Drones have seen a remarkable rise in adoption, with applications ranging from domestic to defense scenarios. As we look towards the future, we firmly believe that automation and AI will continue to play a pivotal role in enhancing the capabilities and services provided by drones. Our focus is now serving large property and critical infrastructure owners, operators, and their management teams, by delivering bespoke services, allowing them to make well-informed decisions that can significantly impact their operations. As we move the company forward, we would like to thank those shareholders, partners, and clients that remain steadfast in supporting us".
The Company announced its rebranding on June 16, 2023 and welcomes all to visit it new website at www.aethergic.com , where visitors will find more detail on the Company's overall vision and mission in bringing innovative management, automation and technologies to the drone and UAV marketplace.
About Aether Global Innovations Corp.
Aether Global Innovations (AETH) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.aethergic.com
ON BEHALF OF THE BOARD OF DIRECTORS
Philip Lancaster, President and CEO
Aether Global Innovations Corp.
info@aethergic.com
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) ( Frankfurt:4XA ) ( WKN#A2N8RH) (" Aether Global Innovations ", " AETH ", or the " Company "), is pleased to announce it has changed its name to Aether Global Innovation s Corp . Effective at the opening August 1, 2023, the Company will begin trading on the CSE under the symbol AETH . The Company's new CUSIP is 00810E109 and ISIN is CA00810E1097. The new website for Aether Global Innovation Corp (CSE: AETH ) is www.aethergic.com
Aether Global Innovations Corp., "The Fifth Element - The Medium of Space" signifies the transformative power of AI, data, and automated drones in domestic services and security. It represents the integration of advanced technologies, where AI processes real-time data for insights and automated drones to execute tasks efficiently. This paradigm shift enhances situational awareness, response, and resource allocation, revolutionizing domestic and security applications.
"We're excited to introduce Aether Global Innovations to the marketplace," shared Phil Lancaster CEO and President of Aether Global Innovations. "We spent a lot of time exploring what was and what wasn't working within the organisation and speaking with industry leaders in the drone space regarding the future of drone technology. Drones have seen a remarkable rise in adoption, with applications ranging from domestic to defense scenarios. As we look towards the future, we firmly believe that automation and AI will continue to play a pivotal role in enhancing the capabilities and services provided by drones. Our focus is now serving large property and critical infrastructure owners, operators, and their management teams, by delivering bespoke services, allowing them to make well-informed decisions that can significantly impact their operations. As we move the company forward, we would like to thank those shareholders, partners, and clients that remain steadfast in supporting us".
The Company announced its rebranding on June 16, 2023 and welcomes all to visit it new website at www.aethergic.com , where visitors will find more detail on the Company's overall vision and mission in bringing innovative management, automation and technologies to the drone and UAV marketplace.
About Aether Global Innovations Corp.
Aether Global Innovations (AETH) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.aethergic.com
ON BEHALF OF THE BOARD OF DIRECTORS
Philip Lancaster, President and CEO
Aether Global Innovations Corp.
info@aethergic.com
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) (Frankfurt:4XA ) ( WKN#A2N8RH) (" Plymouth Rock ", " PRT ", or the " Company "), a drone management and automation company, today announced it has completed a first tranche its previously announced non-brokered private placement by the issuance of 9,907,000 units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $594,420.00 (the "Offering"). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.10 for five (5) years from closing of the Offering
Finders' fees in the aggregate of $59,442.00 and 990,700 finders' b-warrants were paid on a portion of the Offering. Each finder's b-warrant entitles the holder to purchase one additional common share at a price of $0.10 for five (5) years from closing of the Offering.
The Units, common shares, share purchase warrants, finders' b-warrants and shares issued upon exercise of the share purchase warrants and / or the finders' b-warrants are subject to a four month hold period, expiring November 25, 2023.
The net proceeds of the private placement will be used for working capital and business development.
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.plyrotech.ca
ON BEHALF OF THE PRT BOARD OF DIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
(TheNewswire)
Plymouth Rock Technologies Inc. ( CSE:PRT ) ( OTC:PLRTF ) (Frankfurt:4XA ) ( WKN#A2N8RH) (" Plymouth Rock ", " PRT ", or the " Company "), a drone management and automation company, today announced it has completed a first tranche its previously announced non-brokered private placement by the issuance of 9,907,000 units (the "Units") at a price of $0.06 per Unit for aggregate gross proceeds of $594,420.00 (the "Offering"). Each Unit is comprised of one (1) common share and one (1) common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $0.10 for three (5) years from closing of the Offering
Finders' fees in the aggregate of $59,442.00 and 990,700 finders' b-warrants were paid on a portion of the Offering. Each finder's b-warrant entitles the holder to purchase one additional common share at a price of $0.10 for three (5) years from closing of the Offering.
The Units, common shares, share purchase warrants, finders' b-warrants and shares issued upon exercise of the share purchase warrants and / or the finders' b-warrants are subject to a four month hold period, expiring November 25, 2023.
The net proceeds of the private placement will be used for working capital and business development.
About Plymouth Rock Technologies Inc.
Plymouth Rock Technologies (PRT) is an innovative UAV drone management and operations services company that focuses in three areas for critical infrastructure and large public and private facilities. These three areas include (i) drone management and surveillance monitoring, (ii) automation and integration for flight planning, new, innovative sensor payloads, stand-alone power source and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging, and take off. www.plyrotech.ca
ON BEHALF OF THE PRT BOARD OF DIRECTORS & PROTEGIMUS PROTECTION
Philip Lancaster, President and CEO
Plymouth Rock Technologies Inc.
info@plyrotech.ca
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward – looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Copyright (c) 2023 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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.
With 1 billion malicious programs installed and more than half a million new pieces of malware produced worldwide each day, cybersecurity threat actors are growing progressively better and causing greater damage to businesses than ever before.
While large corporations typically have the resources to deal with cybersecurity threats, they still get hit. In September 2023 Johnson Controls International confirmed that a ransomware attack cost the company $27 million in expenses and led to a data breach after hackers stole corporate data.
However the cost of a single ransomware attack to small and medium-sized businesses (SMBs) could be devastating – making them perfect targets for cybercriminals.
Research firm Cybersecurity Ventures predicts the cost of cybercrimes will reach $10.5 trillion annually by 2025.
According to Gartner Group and Mckinsey research, SMBs, those with less than 500 employees, remain a market category with global cybersecurity sales estimated at more than $40 billion. But with threats often come opportunities. SMBs represent a highly underserved segment in the global cybersecurity market, and one cybersecurity company is tapping into this multi-billion-dollar opportunity.
This is where Integrated Cyber Solutions (CSE:ICS) (FSE:Y4G), who offers a comprehensive suite of tools designed to protect small and medium businesses from threat actors offers investors a compelling speculative opportunity to gain exposure to the cybersecurity boom .
Global ransomware attacks have reached epidemic proportions, with cybercriminals employing increasingly sophisticated methods to infiltrate and encrypt sensitive systems and data. By 2031, ransomware is expected to cost its victims as much as $265 billion, according to research firm Cybersecurity Ventures.
Based on findings from IT security firm Trend Micro, over 75 percent of cyberattacks start with an email and 85 percent of all data breaches involve human interaction. It has always been far easier to manipulate a human being than it is to target a software vulnerability. This will continue to remain the case for the foreseeable future, particularly given the sharp increase in cryptocurrency-related attacks.
As the world continues to shift towards interconnected digital ecosystems, supply chain attacks will become increasingly prevalent. The perfect example of this in practice, the result of compromised credentials and an outdated VPN, was the Colonial Pipeline breach in May 2021. The Colonial Pipeline is one of the most vital pipelines in the US, and was a victim of a ransomware attack that shut down the pipeline’s digital systems, and ultimately affected the supply chain on the East Coast.
A little mindfulness goes a long way in protecting a business’s systems and data. Unfortunately, cyber hygiene is one area where many businesses fail entirely. Over half of IT professionals don’t mandate two-factor authentication and most organizations rely on human memory for password management.
Cloud software has become increasingly essential of late. Unfortunately, this has served to amplify its security risks even further. The past five years have seen a 150-percent increase in cloud vulnerabilities according to a 2021 IBM report, while a Data Breach Investigations Report stated over 90 percent of data breaches in 2021 were the result of compromised web apps.
IoT devices are now ubiquitous in both our personal and professional lives. Unfortunately, they’re also a cybersecurity nightmare. Even though the market has been around for years, the majority of smart devices are still hampered by outdated software, poor encryption and an overall lack of built-in security.
It’s not always a phishing email or targeted attack that causes a breach. Often, cybersecurity incidents are the result of human error. According to a survey by Ponemon Institute, more than half of IT experts don’t even know if the cyber security tools they’ve installed actually work.
Mobile devices are a long-standing bugbear for security professionals due to a constant stream of device and application vulnerabilities. To make matters worse, threat actors have recently begun targeting mobile device management systems, potentially giving them control over a company’s entire device fleet.
Without a clear idea of where its data is and how that data is used, it’s almost impossible to identify a breach in a timely fashion. Fortunately, this is one risk category where businesses seem to be on top of things. Experts have predicted that this year will see businesses place increased emphasis on storing only the data they need.
What a business does after being attacked is just as important as how it protects itself. Yet many businesses don’t bother with proper post-breach forensics, leaving them open to a repeat attack. In 2021, a survey by Cybereason found 80 percent of victims who paid to remove ransomware experienced a second attack shortly afterwards.
Led by a team of former Fortune 100 chief information security officers, Integrated Cyber Solutions has a well-defined growth strategy and a comprehensive product portfolio that delivers security services to a perpetually underserved and high-potential SMB market.
“Threat actors have access to powerful tools like ChatGPT, which can generate polymorphic malware code that can avoid detection, or even better, write a convincing email. What a fun time to be a security professional,” said Craig Porter, director advisory for Gartner’s security research and advisory team, in Gartner’s 2023-2024 Cybersecurity Outlook report.
It’s no surprise the global cybersecurity market is booming. Fortune Business Insights estimates it will reach $376 billion by 2029 at a compounded annual growth rate of roughly 13.4 percent. In spite of this, many organizations remain perpetually unprepared to defend against a cyberattack – and this despite having a cybersecurity plan in place.
A Gartner survey in the U.S, U.K. and Germany found that 41 percent of organizations had experienced an AI privacy breach or security incident. For SMBs, navigating the complexities of a constantly evolving cybersecurity threat landscape is even more challenging.
The choices for cybersecurity solutions and services are plenty. To a layperson, the technical jargon is nearly impossible to understand. These solutions are not only challenging to implement and integrate, but also to operate, especially on a 24x7 basis. Often, these solutions do not address all vulnerabilities and most SMBs simply lack the resources to even keep pace with the fast-moving threats of cyber criminals.
Integrated Cyber addresses these cybersecurity challenges by bringing together best-in-class capabilities from multiple third-party cybersecurity providers, allowing it to continuously evolve as it delivers managed services to SMBs.
Third-party Partners Include: KnowBe4 (NASDAQ: KNBE), Proofpoint (NASDAQ: PFPT), Bitdefender, Rapid7 (NASDAQ: RPD), Tenable Holdings (NASDAQ:TENB), and Fortinet (NASDAQ: FTNT).
Some 3.5 million cybersecurity jobs are expected to remain unfilled through 2025, based on research from Cybersecurity Ventures. There simply aren't enough experienced professionals to keep up with demand. As a result, full-time cybersecurity professionals now operate at a premium that's unaffordable for most companies, particularly SMBs. It has also resulted in a sharp upturn in managed services.
This has created a cybersecurity conundrum for SMBs: on the one hand, it’s only through third-party expertise that they can hope to deal with cyberattacks and sophisticated threats; on the other hand, getting such third-party expertise can come at an exponential price.
Most enterprise cybersecurity vendors focus on large corporations that can afford their price tag, essentially making SMBs the forgotten middle child of the cybersecurity market. They're too small to catch the attention of enterprise cybersecurity vendors, yet their security needs are too comprehensive and complex for consumer-grade protection.
This creates a significant opportunity for an SMB-focused cybersecurity service provider to grab hold of this underserved market.
And if market performance is any indication, this creates a strong investment opportunity.
Cybersecurtity ETF's are outperforming the market:
Other cyber security vendors have also done well in the stock market, including: Palo Alto Network (Nasdaq:PANW), which rose 82.84 percent; Crowdstrike Holdings (NASDAQ:CRWD) rose 66.82 percent; Zscaler( NASDAQ) at +49.65 percent; Rapid7 ( NASDAQ:RPD) +41.65 percent; and Fortinet (NASDAQ: FTNT) +34.11 percent.
This is a large part of what gives Integrated Cyber its incredible growth potential. SMBs need cybersecurity tools just as much as any organization, yet have very few options with regards to where they can find them.
The expertise Integrated Cyber’s management team brings to the table comes from years of working in the security sector. They know what works and what doesn't.
And that makes Integrated Cyber an incredibly attractive investment.
The security market is a complicated and noisy place, marked by heavy investment into complex technology stacks. Integrated Cyber cuts through the noise with a fully owned portfolio that integrates and correlates data from multiple systems to provide a single, understandable source of truth.
Integrated Cyber’s portfolio is focused on three vital security pillars, tied together with artificial intelligence.
Vulnerability management begins with the proactive identification and remediation of potential cyber risks and threats. As a trusted advisor, Integrated Cyber provides teams with the expertise and manpower they need to improve their security posture. Services include:
Roughly 80 to 90 percent of cybersecurity issues occur because an employee does something they aren't supposed to do. Integrated Cyber addresses this through a modern, prevention-focused approach to cyber education that transforms employees into the best defense instead. Services include:
According to Gartner, roughly 50 percent of organizations are expected to leverage managed detection and response by 2025 — and with good reason. Managed Detection & Response (MDR) augments organizations with the expertise, manpower and functionality they lack, providing cybersecurity resources through a managed services framework. Integrated Cyber offers the following:
Artificial intelligence has fundamentally changed the nature of cybersecurity. It allows organizations to provide personalized security training, gain insights from massive threat intelligence datasets and detect and respond to threats automatically. Unfortunately, most businesses lack the expertise to incorporate these tools.
And they're just as effective at cracking security as they are at improving it. The unpleasant reality is that cybersecurity has always been a perpetual arms race between security professionals and adversaries. Artificial intelligence and machine learning simply represent the latest battleground.
Unfortunately, the threat actors are winning. The current cybersecurity industry consists of hundreds of point solutions addressing different threats, approaches and environments. A security stack built from these solutions is unsustainable even for a business that does possess the necessary resources to maintain it.
Integrated Cyber is incorporating AI technology across its applications to keep customers safer than ever before, creating an intelligent platform that arms SMBs with the same level of protection as large corporations. Its IC360 platform consolidates its entire product portfolio into a powerful command center characterized by the following:
35+ years of global IT and management experience. Co-founder of The Advisory Council International
Alan R. Guibord, a US ARMY Veteran, and retired professional race car driver has more than 35 years of global IT and management experience and is one of the co-founders of Integrated Cyber. He is also co-founder of The Advisory Council International. The Advisory Council International, an organization of over 25 former Fortune 100 CIOs providing technical guidance to Board-level and C-suite executives as well as coaching and direction to IT Leaders. Profits are donated to charityDuring his career, he has served as the President and CEO of Computerworld, a media firm for IT Executives, CIO of Fort James Corp., a multi-billion dollar consumer products company, CIO of RR Donnelley, multi-billion-dollar commercial printer. Mr. Guibord has also been a member of several key executive boards, including Oracle, and Microsoft and other organizations both in the public and private sectors including the Grocery Manufacturers Association, The University of Illinois Chicago Centre for Research in Technology and The Chicago Library Foundation.
Al is a graduate of Merrimack College, MA, where he earned a Bachelor of Science in Business Management/Accounting. He has completed graduate courses in Business Administration from New Hampshire College. He has also written a book on Leadership published by John Wiley and sons.
30+ years of experience in IT, IT services, software and consulting for organizations ranging from Fortune 10 companies to early-stage startups.
Pete is a member of the Integrated Cyber Executive Team bringing over 30 years of experience in IT, IT Services, Software and Consulting spanning fortune 10 global enterprises to early-stage startups.
Previously Pete held several executive positions at Hewlett-Packard. As SVP/GM of IT Outsourcing, Pete was responsible for the global 15B+ IT Outsourcing business, including managed security services, enterprise cloud and mobility services. He was former SVP of HP’s Global IT Operations organization and CIO of the Consumer Business Unit. Excelling in massive-scale organizational change, he led one of the world’s largest IT infrastructure transformations and previously spearheaded one of the largest merger integration programs in HP’s history. Pete obtained a Bachelor Degree in Mathematics and Computer Science from Stanford University. Pete is also an avid photographer, expert world traveler, and an accomplished artist.
36+ years of marketing, sales enablement and sales operation experience across multiple technology companies in multiple industries
As a highly experienced marketing professional with over three decades of expertise in technology marketing, Kevin has spearheaded marketing and communication initiatives for many companies throughout his career. His experience spans a wide range of industries, including telecommunications, data storage, geospatial mapping, web hosting, data center services, and more.
Throughout his career, he has excelled at establishing and guiding top-notch marketing campaigns, emphasizing the importance of marketing and communication through a customer-focused approach. Whether working with a Fortune 50 corporation, multiple start-ups, or several mid-level businesses, he has always been committed to delivering the best results.Kevin's success in the industry is attributed to his ability to understand and meet each customer's unique needs and his expertise in creating compelling content. He takes great pride in his ability to create marketing campaigns that truly resonate with audiences and is always eager to take on new challenges and opportunities.
35+ years of financial management experience with both Fortune 100 companies and smaller organizations.
Bob has more than 35 years of financial management experience and is responsible for the financial management of Integrated Cyber. He started his career working for a Fortune 100 company and then for an International Public Accounting firm where he worked with multiple small businesses and start-up companies in high tech, real estate, construction and multi-national companies where he specialized in providing tax strategies and planning opportunities to companies with sales that ranged from $20 million to over $1 billion.
Bob founded a CPA firm in his name in 1991 where he has provided financial and tax services to small and medium sized businesses and senior executives in the manufacturing, high technology, retail, construction, real estate and professional industries, as well as individual tax clients. He has participated and has been an integral part in many sales, merger and acquisition transactions in the printing, publishing and High-Tech industries.
He graduated with a Bachelors Degree in Accounting from Northeastern University and is a member of the American Institute of Certified Public Accountants, the New Hampshire Society of Certified Public Accountants and the National Association of Certified Valuators and Analysts.
Technology is constantly moving forward, and modern digital infrastructure allows for unprecedented connectivity that has created new opportunities in all kinds of industries, from pharmacology to robotics.
Unfortunately, the same advancements have also exposed companies to sophisticated, scalable cyberattacks — according to Statista, cybercrime cost American businesses an estimated US$320 billion in 2023, an increase of over US$300 billion since 2017. That figure could swell to approximately US$1.82 trillion by 2028.
The ever-evolving nature of online threats means that up-to-date cybersecurity measures are now an essential part of any business. This changeability also means the industry is likely to experience significant growth in the years to come, making it a potentially lucrative sector for investors. Indeed, Grandview Research predicts that the global cybersecurity market will grow at a CAGR of 12.3 percent from 2023 to 2030, reaching an estimated US$500.7 billion.
Here the Investing News Network (INN) delves into what’s driving growth in the cybersecurity industry and what investors can expect from the market in 2024. Read on to learn what experts see coming.
Cyberattacks are steadily increasing in both volume and scale across countries and industries, and this trend doesn't show signs of letting up. In fact, while investigating cyber threats for 2024, researchers at NordVPN uncovered a troubling development: a new generation of cybercriminals is seeking tutorials on the dark web.
The cybersecurity sector follows patterns set by malicious actors, and Google Cloud's Cybersecurity Forecast 2024 identifies several directions cybercriminals may go in the coming year. For example, political and social events like elections in the US and Taiwan and the 2024 Summer Olympics could be targets for state-sponsored cybercriminals.
Another key trend discussed in the report is the potential for improved and scaled phishing campaigns as generative artificial intelligence (AI) makes infiltration attempts more convincing. Grammatical and colloquial errors that distinguished suspicious messages in the past will be reduced or eliminated as language models improve.
With that in mind, one of the most important current topics of discussion in cybersecurity is the development of AI-powered technology designed to combat AI attacks. Generative AI poses the most significant threat to online security because it can learn how to circumvent even newly implemented security features.
EY Canada Cybersecurity Leader Yogen Appalraju told INN that 2024 is likely to bring increased use of generative AI across the board. “(We will) find generative AI being used by the attackers to be more efficient in terms of gathering information, social engineering, etc. But also the defender will be (relying on) it much more to be more efficient," he said.
Just as attacks powered by generative AI will learn to work around security measures, safeguards that use generative AI will learn from attacks and infiltration attempts, identifying and repairing vulnerable points of entry. AI can also be used to enhance and secure biometric systems, further strengthening multi-factor authentication.
Yogen advised businesses to be alert to phishing attempts, which include fraudulent emails and phone calls. “Companies must (conduct) ongoing phishing testing campaigns internally to become more resilient to that. These are becoming much more sophisticated, especially spear phishing attacks, where (attackers) do the homework (of) intelligence gathering, and they send very believable emails with context," he explained.
Yogen believes cyber defense measures should be as streamlined as possible and predicts that cybersecurity programs will be simplified in 2024. “One of the reasons why it's so much easier for an attacker today is because most large organizations have very complex IT environments,” he pointed out. “Some of them are built through acquisitions, so they're very complex with lots of different technologies that they support. (So) simplification is going to be a theme. The more you simplify, the more you can get better visibility about your entire environment.”
EY's 2023 Global Cybersecurity Leadership Insights Study reveals that 84 percent of companies are looking to add two or more new cybersecurity technologies to their existing measures. The authors point out that "technology clutter" makes it harder to spot abnormalities that indicate threats, and suggest relying on a single cybersecurity platform.
Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT) are the dominant players in tech, and all three have taken an interest in cybersecurity, acquiring private companies and integrating their technologies into their respective cloud platforms to create more comprehensive and integrated suites of security services.
“These folks are building rich, very sophisticated feature functionality (for their) platforms,” said Yogen. However, while having a few large platforms available certainly makes things simpler for businesses, he noted that these tech giants represent a real threat to smaller security vendors, which run the risk of being closed out of the market.
IBM (NYSE:IBM) is pursuing a different strategy by been investing in private cybersecurity companies without necessarily acquiring them or integrating their technologies into its cloud platform. Instead, it has been partnering with these companies to offer their solutions to its customers as part of its security portfolio. This innovative partnership approach allows IBM to offer a wide range of security solutions from multiple vendors, while also allowing the private companies to retain their independence and serve other customers beyond IBM.
As the cybersecurity industry's rapid growth continues, labor is becoming a major challenge.
According to the International Information Systems Security Certification Consortium’s 2023 Cybersecurity Workforce Study, the cybersecurity workforce grew by 8.7 percent between 2022 and 2023. However, the talent gap grew at a faster rate, increasing by 12.6 percent year-on-year. In a mid-2023 article, Canadian cybersecurity company Field Effect discusses some of the reasons behind the talent gap, which include a lack of diversity in STEM fields.
Yogen recognized that while universities are making more of an effort to address this issue, the actions they are taking may not be enough to fully address the problem. “We're seeing a trend towards (schools getting more people interested in cybersecurity now), especially with women," he explained to INN. "There's more training, awareness and education around a career in cyber. There are a lot of other roles in cyber than just being a software developer. So I do think there are a few things that will help us along the way, but it's a real issue and a real gap. There is a feeling that (the gap) is quite significant, and in the millions in terms of the shortage of cyber talent.”
A cybersecurity talent shortage could have a significant and far-reaching impact on the broader economy, including increased cyber risks, reduced competitiveness and innovation, higher costs, reduced productivity and supply chain interruptions. At the company level, attacks can have a lasting negative impact, including a loss of stock value, eroded trust and a decline in clients as users switch to the services of another company in the wake of an incident.
The cybersecurity industry is growing rapidly as cyberattacks rise, and businesses need to take steps to protect themselves. Investing in security measures, staying up to date on the latest threats, educating employees about cybersecurity risks and simplifying cybersecurity solutions are all important in today's world.
When it comes to cybersecurity stocks, there are a number of factors that could impact their performance in 2024. These include the continued growth of the sector, the development of new technologies and the evolving threat landscape. The biggest names in tech are dominating the market, but moving forward it's possible that smaller companies with innovative solutions may have a chance to thrive in this constantly changing industry.
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: Adisyn is a client of the Investing News Network. This article is not paid-for content.
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.
Integrated Cyber Solutions Inc. (CSE: ICS) ("Integrated Cyber" or the "Company") provides this bi-weekly default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
The Company previously announced on October 25, 2023 that it had applied for a management cease trade order ("MCTO") with the applicable securities regulatory authorities in Canada on the basis that the Company's audited annual financial statements, accompanying management's discussion and analysis and associated Chief Executive Officer and Chief Financial Officer certifications for the fiscal year ended June 30, 2023 (the "Annual Filings") would not be filed by the applicable filing deadline of October 30, 2023 (the "Default Announcement"). The Company announced that the MCTO was issued on November 1, 2023. The MCTO restricts the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
Preparation of the Annual Filings has also impacted the timely completion of the Company's interim financial statements, accompanying management's discussion and analysis and associated Chief Executive Officer and Chief Financial Officer certifications for the three months ended September 30, 2023 (the "Interim Filings"). The completion of the Interim Filings is dependent on the results contained in the Annual Filings, and, accordingly, the Company will not be able to file the Interim Filings by the reporting deadline of November 29, 2023.
The Company and its auditors continue to work diligently toward completing the Annual Filings and Interim Filings as soon as possible, and continues to expect that it will be in a position to file the Annual Filings and Interim Filings on or before December 29, 2023. The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the Annual Filings and Interim Filings.
On Behalf of the Board of Directors:
Alan Guibord,
Director & Chief Executive Officer
Integrated Cyber Solutions Inc.
For further information, please contact: Integrated Cyber Solutions Inc. 1 Stiles Rd. Salem, New Hampshire, 03079 United States of America Telephone: +1(212) 634-9534 Email: alan.guibord@integrated-cyber.com Web: https://www.integrated-cyber.com
ABOUT Integrated Cyber
Integrated Cyber 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, allowing companies to continuously adapt their services to evolving technologies and 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. Integrated Cyber greatly emphasizes the human aspect of cybersecurity management, simplifying complex concepts, and highlighting the crucial role that employee behavior plays in a company's cyber defenses.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release may include statements about the expected filing of the Annual Filings and Interim Filings, the Company's continued ability to satisfy the information guidelines set out in NP 12-203 as well as the duration of the MCTO. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made including, without limitations, information based on the current state of the Annual Filings, Interim Filings and discussions with the auditors of the Company. Although Integrated Cyber has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there is no guarantee the Annual Filings and/or Interim Filings will be made on the timeline currently expected, that the Company will continue to be able to satisfy the requirements of NP 12-203 or that the MCTO will not be revoked and replaced with a cease trade order. If the securities regulators deem that the Company has not complied with the MCTO, the Annual Filings and/or Interim Filings are not filed on time or subject to additional delays, or the Company is not able to continue to satisfy the requirements of NP 12-203, the securities of the Company could be subject to a cease trade order or other actions taken by the securities regulators and/or exchanges. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Integrated Cyber disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Security is becoming a growing global concern, both online and in the real world.
Diverse companies are stepping up to provide solutions for individuals and businesses, and some of them are seeing impressive share price gains as they meet increasing demand for consumer safety.
With this landscape in mind, the Investing News Network is profiling the top NASDAQ security stocks by share price performance year-to-date. Data was generated on December 1, 2023, using TradingView's stock screener, and all details were current at that time. Companies with market caps above US$50 million were considered.
Year-to-date gain: 186.81 percent; market cap: US$2.81 billion; current share price: US$27.19
CSPi is focused on security and packet capture products, managed IT and professional services and technology solutions. The tech firm has two business divisions: High Performance Product and Technology Solutions. The former includes ARIA Cybersecurity Solutions, which provides software for enhanced network security and incident response capabilities, while the latter offers IT solutions and professional services via partnerships with best-in-class technology providers.
In November, ARIA Cybersecurity Solutions took a big step forward in helping Australia-based clients comply with the country's Critical Infrastructure Risk Management Program, which is aimed at protecting Australia's critical infrastructure from cyberattacks. The company launched its latest solutions product, AZT PROTECT, via a partnership with South Australian company Logi-Tech. AZT PROTECT is "a groundbreaking service for protecting critical applications in operational technology environments such as manufacturing, mining and government," according to a release.
Shares of CSPi reached their 2023 peak on December 1, hitting US$27.94.
Year-to-date gain: 119.54 percent; market cap: US$56.68 billion; current share price: US$236.01
CrowdStrike Holdings is a leader in cloud- and artificial-intelligence-based cybersecurity software. The company 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. Recently, CrowdStrike's Counter Adversary Operations "uncovered a spate of cyberattacks by Imperial Kitten targeting Israeli organizations, particularly in the transportation, logistics and technology sectors," reported Forbes.
In the third quarter of its 2024 fiscal year, Crowdstrike’s revenue figures beat analyst expectations, growing by 35 percent year-on-year to reach US$786 million; adjusted earnings per share came in at US$0.82. Company shares climbed steadily through much of 2023, peaking at US$238.48 on November 30.
Year-to-date gain: 109.3 percent; market cap: US$93.26 billion; current share price: US$295.79
Global cybersecurity leader Palo Alto Networks’ security portfolio includes advanced firewalls and cloud-based offerings that protect more than 85,000 organizations across their clouds, networks and mobile devices.
In November, the company launched Strata Cloud Manager, which it calls “the industry's first AI-powered Zero Trust management and operations solution." It also revealed a suite of advanced security capabilities and five next-generation firewalls.
“Strata Cloud Manager will simplify management and operations across our customers' entire network security estate,” said Anand Oswal, senior vice president and general manager of network security at Palo Alto. “We continue to innovate with AI and ML in our security services, now stopping advanced attacks, including the first and only instance of a unique attack.”
Palo Alto’s share price has more than doubled in 2023, reaching its highest point of US$296.84 on December 1.
Year-to-date gain: 88.81 percent; market cap: US$7.34 billion; current share price: US$68.31
An industry leader in semiconductor chips and silicon intellectual property, Rambus enables critical performance improvements for data centers and other growing markets that require secure data protection. According to the company, its solutions "improve data bandwidth, capacity and security from cloud to consumer."
Rambus creates additional revenue streams by licensing its silicon intellectual property (its proprietary building blocks for semiconductor chip technology) to its partners. In the third quarter, the company generated US$57.9 million in licensing billing, US$28.9 million in royalties and US$52.2 million in product sales, driven mainly by memory interface chips.
The company's share price rose to its highest point in 2023 on November 29, hitting US$70.72.
Year-to-date gain: 72.99 percent; market cap: US$29.44 billion; current share price: US$198.45
Award-winning cloud security company Zscaler is a leader in the field of security service edge, and its Zero Trust Exchange is one of the world's most-used security service edge platforms. The platform can be used to secure user-to-app, app-to-app and machine-to-machine communications over any network.
In November, the company announced Zero Trust Exchange platform advancements that are aimed at simplifying and improving cloud workload security to deliver consistent cyber defense. “As customers accelerate the adoption of public cloud infrastructure they require a simple and effective cloud security platform to protect their cloud workloads and applications,” said Zscaler Senior Vice President and General Manager Dhawal Sharma.
Zscaler climbed steadily after reaching a year-to-date low of US$84.93 in May to peak at US$207.78 on November 29.
Don't forget to follow us @INN_Technology for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Cybercrimes are a growing problem for individuals, businesses and governments alike. Still, many people continue to ask the question, “Why is cybersecurity important?”
For starters, no organization or industry is safe from cyber threats, and cybercrime causes damage for entities in diverse sectors every day. The most targeted sectors include healthcare, financial services, energy and pharmaceuticals.
The Equifax (NYSE:EFX) cyber attack that happened in July 2017 is one of the most notable examples — the hack allowed access to the personal and financial information of almost 150 million people.
More recently, in early 2023, Elon Musk's social media platform X (formerly Twitter) faced a data breach that exposed the email addresses of nearly a quarter million platform users. A cyber attack on a third-party software provider for the Weather Network in mid-September 2023 had a significant impact on the service's platform and data systems for a number of days, hamstringing the ability to post weather alerts.
Cybersecurity is becoming even more necessary for protecting critical infrastructure. As has been seen in recent years, cyber criminals are increasingly targeting physical infrastructure such as pipelines, energy grids, water distribution lines and food-processing plants. One key example is a US$4.5 million ransomware cyberattack in May 2021 that shut down the Colonial pipeline, the largest fuel pipeline in the US. In late 2022, a series of distributed denial-of-service (DDoS) attacks by pro-Russian hacktivist group KillNet temporarily took down websites for several major US airports.
There have also been plenty of malicious cyber attacks on corporations in recent years, including on Apple (NASDAQ:AAPL), Capital One (NYSE:COF), Cisco Systems (NASDAQ:CSCO), Meta Platforms (NASDAQ:FB), Marriott (NASDAQ:MAR), Under Armour (NYSE:UAA), Toyota (NYSE:TM) and Uber (NYSE:UBER).
Government agencies and businesses need to respond to these threats by adopting strict security measures. This article breaks down the three main answers to the question, “Why is cybersecurity important?” and illustrates why this market is ripe with opportunity for investors.
As noted, the number of security incidents is increasing every year, and this comes with a heavy price tag. According to a 2023 research report by IBM (NYSE:IBM), the average cost for a single data breach event in 2022 was US$4.45 million.
The firm's 2021 edition shows that the monetary impact of a cybersecurity attack can be mitigated with the right cybersecurity measures in place. According to IBM, fully deployed cybersecurity technologies — such as artificial intelligence, analytics and automated orchestration — can reduce data breach costs by 80 percent per event.
“A data breach can have far-reaching consequences, causing financial losses and affecting an organization’s operations and compliance in the short term,” IBM states in the report. “And a major breach in the headlines can potentially damage reputation for years to come, leading to lost business and a competitive disadvantage.”
Cybercrime in the form of ransomware inflicted US$20 billion in damages globally in 2021, and Cybersecurity Ventures forecasts that costs will grow exponentially over the next 10 years to reach US$265 billion annually by 2031.
Cyber threats have expanded from harming computers and networks to targeting people, corporations, devices on the internet of things (IoT) and critical infrastructure such as railways, airports and power grids.
What investors might not know is that mobile devices are faced with rising security threats, as are medical devices. In fact, healthcare is among the most targeted sectors with the myriad internet-connected medical devices vulnerable to attack. In 2022, cyber attacks on the healthcare industry rose by 60 percent.
“Ransomware groups prefer to target organizations that are likely to pay the ransom,” notes cyber security software firm Check Point Software (NASDAQ:CHKP). “Healthcare organizations provide critical care and need to restore operations as quickly as possible, making them likely to meet attackers’ demands.”
It isn’t just the number of cybersecurity attacks that is increasing. Their severity is on the rise as well. A single cyberattack can wreak a lot of havoc considering that, according to IBM, it can take an average of 277 days to identify and fully contain a security breach.
The cyberattack on the Colonial pipeline in 2021 forced the Georgia-based company to shut down its IT and pipeline operations. To understand the severity, consider that Colonial is responsible for providing 45 percent of the fuel for the east coast of the US, including gasoline, diesel, jet fuel and home heating oil, as well as fuel supplies to the US military. The attack disrupted supplies for several days, leading to fuel shortages and price hikes at the pump.
Colonial CEO Joseph Blount admitted the company paid a ransom of 75 Bitcoin, or around US$4.4 million at the time, to the hackers. The US Department of Justice said the government was able to recover 63.7 Bitcoin a month later, but by that time the crypto's price had fallen by over US$20,000, meaning they were worth only US$2.3 million.
The BBC reported that while the pipeline was back online within days, it was nearly a month before seven finance systems used by the Colonial pipeline were restored.
Soon after the pipeline cybersecurity breach, another ransomware attack struck important industry infrastructure. This time, the target was global meat processor JBS, which accounts for more than one-fifth of US domestic beef supply. The Brazil-headquartered company was forced to curb activity at all its US beef plants; the attack reverberated through the company’s networks in that country and other nations, as per the Guardian.
These two major back-to-back cybersecurity attacks, one on a major US gas pipeline and the other on a major meat processor, show just how dangerous cyber threats can be.
“I think the takeaway is that if you are a corporate executive or a local government head and you thought that you would be spared, guess what? They went after your gas, they went after your hotdogs, no one is out of bounds here. Everyone is in play in every single corporation,” Christopher Krebs of the US Cybersecurity and Infrastructure Security Agency said on NBC’s Today Show after the attacks.
Looking ahead, AZ Tech IT Solutions sees a number of major cyber threat trends emerging. Topping the list is, of course, ransomware, followed by AI-powered and supply chain attacks, as well as deepfakes and cloud jacking.
“Cybercriminals are becoming increasingly sophisticated in their tactics, leveraging advanced technologies and exploiting vulnerabilities in digital systems,” the firm stated.
The continuously evolving nature of cybersecurity threats means that cybersecurity companies will stay incredibly relevant — a positive trend for investors interested in the cybersecurity sector. Government officials and corporate executives are no longer asking, “Why is cybersecurity important?” — they recognize that it’s an area worthy of commitment and are taking preventative action against threats.
Grand View Research states that the global cybersecurity market will grow at a compound annual growth rate of 12.3 percent between 2023 and 2030 to reach US$500.7 billion.
“The introduction of advanced cyber security solutions, increasing cost of data breaches, emerging enterprise mobility trends, and stringent government regulations are some of the factors expected to drive the market growth,” the firm’s analysts said.
This is an updated version of an article originally published by the Investing News Network in 2015.
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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