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Artprice100©: The Art Market’s Blue-chip Artists Yield Nearly as Much as the Top Performing Companies in the American Economy

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5 years ago

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thierry Ehrmann, Artprice’s founder/CEO, highlights the art market’s excellent performance in H1 2019: “A collector who, at the start of this year, invested in the 100 most successful artists of the last five years (2014-2018), would already be looking at a value accretion of almost a sixth in the value of his/her portfolio.”

The Artprice100 © index gained +16% over the first half of 2019 while the S&P 500 added +18% over the same period. The similarity in the performances between the American financial markets and a portfolio of works by the world’s top performing artists (defined in a purely objective manner) proves the undeniable attractiveness of the Art Market as an alternative investment.

Fewer transactions

The performance of the Artprice100© over the first half of 2019 was driven by exceptionally strong demand, barely satisfied by supply. The supply/demand imbalance, generated a rapid increase in value, particularly on works by the 100 top performing artists on the global secondary art market.

The turnover slowdown recorded in H1 2019 by major auction houses, including Sotheby’s (-9%) and Christie’s (-28%), reflects a less dynamic high-end market than in previous years. However, prices have shown no signs of fatigue and the contraction in the volume of sales is a reminder that the art market is directly dependent on the number of works in circulation.

In a financial context of sustained negative or near-zero refinancing rates, some collectors are probably preferring to hold certain artworks and not cash in on investments that remain highly competitive. Moreover, the persistence of extremely high transaction costs, both in galleries and in auction rooms, is discouraging short holding periods (under five years), and tempting some collectors to consider private transactions as an alternative.

The Artprice100© index driven by Warhol, Zao Wou-Ki and Wu Guanzhong

Heavily weighted in our Artprice100© index with 9.1% of the portfolio, Pablo Picasso has not contributed to its value accretion for several years. As we have seen over the last four years, his prices contracted -2% in the first half of 2019.

However, Andy Warhol, Fu Baoshi, Zao Wou-Ki and particularly Wu Guanzhong have all clearly enjoyed value accretion, providing the main thrust for the progression of our Artprice100© index in H1 2019. Without setting any new auction records, these artists have all enjoyed strong price inflation. The sale of major works by these artists will no doubt confirm the trend.

On 2 June last, a large drawing by Wu Guanzhong entitled Lion grove garden (1988) fetched $20.8 million at China Guardian. It was previously acquired for $17.8 million on 3 June 2011 at Poly Beijing. Adding 17% over the last eight years, the drawing generated, in financial terms, an average annual return of +1.9%. However, another Guanzhong resale suggests that the bulk of the value accretion on his works has occurred in the last 6 months: an important Guanzhong work entitled Two Swallows was purchased for $7.1 million on 3 June 2011 (at the same sale as Lion grove garden) and fetched $7.8 million in December 2018, an increase of just +9.8%.

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Paul Cézanne and George Condo

Investments in Modern artists carry the least risk and demand for their work is continuing to grow steadily offering attractive returns over the long term. Claude Monet and Paul Signac have both signed new auction records this year. Similarly, 2019 is already proving to be a superb year (the best since 2000) for Paul Cézanne. His painting Bouilloire et fruits (c. 1888-90), acquired for $29.5 million in 1999, fetched $59.3 million on 13 May 2019 at Christie’s New York, generating an average annual ROI of 3.6% over 20 years.

At the other end of the spectrum, Contemporary artists offer striking returns in the medium and short term. The most spectacular entry into the composition of the Artprice100© index this year is undoubtedly George Condo. The American artist enjoyed a massive secondary market success in 2018with 78 paintings and 34 drawings selling for more than $63 million, and on three continents (America, Europe and Asia)! The Condo phenomenon has been clearly illustrated by a number of rapid resales of small works including Soft Green Abstraction (1983), which was purchased for $17,000 in April 2017 in Munich and resold a year later in New York for $46,000.

In total, there were seven changes this year in the composition of the Artprice 100© index.

In

Out

George Condo

Huang Binhong

Giorgio Morandi

Huang Zhou

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Robert Motherwell

Anish Kapoor

Jean Paul Riopelle

Li Keran

Rufino Tamayo

Xu Beihong

Frank Auerbach

Pieter Brueghel II

Hans Arp

Giorgio de Chirico

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Four women… and two Old Masters

Unfortunately, we see no change regarding female artists. This year again, only four of the artists in the Artprice100© are women: Yayoi Kusama (Japan), Joan Mitchell (US), Louise Bourgeois (France) and Barbara Hepworth (UK). Yayoi Kusamanow represents 1.3% of the index compared with 0.9% last year. Her price index rose 20% in H1 2019.

The relegation of Pieter Brueghel II for reasons relating to market liquidity has exacerbated the rarity of Old Masters in the index. Numerically, the composition of the index is dominated by Modern artists, numbering 49, followed by Post-War artists (29), Contemporary artists (12), 19th century artists (8) and lastly… Old Masters (only 2).

Composition of Artprice100© index for H1 2019

Artist – Share – Period

  1. Pablo PICASSO (1881-1973) – 9.1% – Modern
  2. Andy WARHOL (1928-1987) – 6.4% – Post-War
  3. Claude MONET (1840-1926) – 4.5% – 19th Century
  4. QI Baishi (1864-1957) – 3.9% – Modern
  5. Jean-Michel BASQUIAT (1960-1988) – 3.7% – Contemporary
  6. Gerhard RICHTER (b. 1932) – 3.3% – Post-War
  7. ZAO Wou-Ki (1921-2013) – 2.9% – Post-War
  8. FU Baoshi (1904-1965) – 2.5% – Modern
  9. Alberto GIACOMETTI (1901-1966) – 2.4% – Modern
  10. Amedeo MODIGLIANI (1884-1920) – 2.2% – Modern
  11. Cy TWOMBLY (1928-2011) – 2.2% – Post-War
  12. WU Guanzhong (1919-2010) – 2.1% – Modern
  13. Roy LICHTENSTEIN (1923-1997) – 2.0% – Post-War
  14. Lucio FONTANA (1899-1968) – 1.9% – Modern
  15. Alexander CALDER (1898-1976) – 1.8% – Modern
  16. Marc CHAGALL (1887-1985) – 1.8% – Modern
  17. Joan MIRO (1893-1983) – 1.7% – Modern
  18. Willem DE KOONING (1904-1997) – 1.7% – Modern
  19. Henri MATISSE (1869-1954) – 1.5% – Modern
  20. Fernand LÉGER (1881-1955) – 1.4% – Modern
  21. Christopher WOOL (b. 1955) 1.4% – Contemporary
  22. Yayoi KUSAMA (b. 1929) – 1.3% – Post-War
  23. Jean DUBUFFET (1901-1985) – 1.3% – Modern
  24. René MAGRITTE (1898-1967) – 1.2% – Modern
  25. Peter DOIG (b. 1959) – 1.2% – Contemporary
  26. Wassily KANDINSKY (1866-1944) – 1.2% – Modern
  27. Jeff KOONS (b. 1955) – 1.2% – Contemporary
  28. David HOCKNEY (b. 1937) – 1.1% – Post-War
  29. Henry MOORE (1898-1986) – 1.0% – Modern
  30. LIN Fengmian (1900-1991) – 0.9% – Modern
  31. CHU Teh-Chun (1920-2014) – 0.9% – Post-War
  32. Paul GAUGUIN (1848-1903) – 0.9% – 19th Century
  33. Pierre-Auguste RENOIR (1841-1919) – 0.8% – 19th Century
  34. SAN Yu (1895-1966) – 0.8% – Modern
  35. Richard PRINCE (b. 1949) – 0.8% – Contemporary
  36. Sigmar POLKE (1941-2010) – 0.7% – Post-War
  37. Joan MITCHELL (1926-1992) – 0.7% – Post-War
  38. PU Ru (1896-1963) – 0.7% – Modern
  39. Auguste RODIN (1840-1917) – 0.7% – 19th Century
  40. Edgar DEGAS (1834-1917) – 0.7% – 19th Century
  41. Paul CÉZANNE (1839-1906) – 0.7% – 19th Century
  42. Yves KLEIN (1928-1962) – 0.6% – Post-War
  43. Camille PISSARRO (1830-1903) – 0.6% – 19th Century
  44. Richard DIEBENKORN (1922-1993) –  0.6% – Post-War
  45. Ed RUSCHA (b. 1937) – 0.6% – Post-War
  46. Keith HARING (1958-1990) – 0.5% – Contemporary
  47. Martin KIPPENBERGER (1953-1997) – 0.5% – Contemporary
  48. Louise BOURGEOIS (1911-2010) – 0.5% – Modern
  49. Alberto BURRI (1915-1995) – 0.5% – Modern
  50. Frank STELLA (b. 1936) – 0.5% – Post-War
  51. Damien HIRST (b. 1965) – 0.4% – Contemporary
  52. Egon SCHIELE (1890-1918) – 0.4% – Modern
  53. Ernst Ludwig KIRCHNER (1880-1938) – 0.4% – Modern
  54. Georges BRAQUE (1882-1963) – 0.4% – Modern
  55. Georg BASELITZ (b. 1938) – 0.4% – Post-War
  56. Pierre SOULAGES (b. 1919) – 0.4% – Modern
  57. Juan GRIS (1887-1927) – 0.4% – Modern
  58. Salvador DALI (1904-1989) – 0.4% – Modern
  59. Edvard MUNCH (1863-1944) – 0.4% – Modern
  60. Paul SIGNAC (1863-1935) – 0.4% – Modern
  61. DONG Qichang (1555-1636) – 0.4% – Old Master
  62. Fernando BOTERO (b. 1932) – 0.4% – Post-War
  63. WEN Zhengming (1470-1559) – 0.4% – Old Master
  64. George CONDO (b. 1957) –  0.4% – Contemporary
  65. Sam FRANCIS (1923-1994) – 0.4% – Post-War
  66. Alighiero BOETTI (1940-1994) – 0.4% – Post-War
  67. Bernard BUFFET (1928-1999) – 0.4% – Post-War
  68. Max ERNST (1891-1976) – 0.4% – Modern
  69. Robert RAUSCHENBERG (1925-2008) – 0.4% – Post-War
  70. CHEN Yifei (1946-2005) – 0.3% – Contemporary
  71. Maurice DE VLAMINCK (1876-1958) – 0.3% – Modern
  72. Barbara HEPWORTH (1903-1975) – 0.3% – Modern
  73. Pierre BONNARD (1867-1947) – 0.3% – Modern
  74. Donald JUDD (1928-1994) – 0.3% – Post-War
  75. Max BECKMANN (1884-1950) – 0.3% – Modern
  76. Tsuguharu FOUJITA (1886-1968) – 0.3% – Modern
  77. Alfred SISLEY (1839-1899) – 0.3% – 19th Century
  78. Laurence Stephen LOWRY (1887-1976) – 0.3% – Modern
  79. Morton Wayne THIEBAUD (b. 1920) – 0.3% – Post-War
  80. Nicolas de STAËL (1914-1955) – 0.3% – Modern
  81. Enrico CASTELLANI (1930-2017) – 0.3% – Post-War
  82. Anselm KIEFER (b. 1945) – 0.3% – Contemporary
  83. Michelangelo PISTOLETTO (b. 1933)  – 0.3% – Post-War
  84. GUAN Liang (1900-1986) –  0.3% – Modern
  85. Kees VAN DONGEN (1877-1968) – 0.3% – Modern
  86. Francis PICABIA (1879-1953) – 0.3% – Modern
  87. Piero MANZONI (1933-1963) – 0.3% – Post-War
  88. Tom WESSELMANN (1931-2004) – 0.3% – Post-War
  89. Giorgio MORANDI (1890-1964) – 0.3% – Modern
  90. Günther UECKER (b. 1930) – 0.2% – Post-War
  91. Josef ALBERS (1888-1976) – 0.2% – Modern
  92. Robert MOTHERWELL (1915-1991) – 0.2% – Modern
  93. Rufino TAMAYO (1899-1991) – 0.2% – Modern
  94. Hans ARP (1886-1966) – 0.2% – Modern
  95. Emil NOLDE (1867-1956) – 0.2% – Modern
  96. Paul KLEE (1879-1940) – 0.2% – Modern
  97. Jean-Paul RIOPELLE (1923-2002) – 0.2% – Post-War
  98. Alexej VON JAWLENSKY (1864-1941) – 0.2% – Modern
  99. Albert OEHLEN (b. 1954) – 0.2% – Contemporary
  100. Frank AUERBACH (b. 1931) – 0.2% – Post-War

 

SOURCE Artprice.com

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DAZN ADVANCES GLOBAL EXPANSION WITH ACQUISITION OF FOXTEL, A LEADING AUSTRALIAN SPORTS AND ENTERTAINMENT MEDIA GROUP

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3 hours ago

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December 23, 2024

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  • Milestone deal for DAZN’s position as the global home of sport.
  • This acquisition establishes DAZN’s sports platform in Australia, one of the world’s most attractive sports markets.
  • Foxtel Group will leverage DAZN’s global reach, industry-leading technology and extensive content portfolio to further enhance the viewing experience for Australian sports fans.

LONDON, NEW YORK, and SYDNEY, Dec. 22, 2024 /PRNewswire/ — DAZN, a world-leading sports entertainment platform, has today announced an agreement to acquire Foxtel Group (‘Foxtel’) from its majority shareholder News Corp and minority shareholder Telstra at an enterprise value of US$2.2 billion, subject to regulatory approval.

The acquisition establishes DAZN as a leader in sports entertainment in Australia – a highly attractive sports market – while also expanding DAZN’s global footprint and enhancing the group’s standing as the global home of sport. The addition of Foxtel to DAZN brings the Group’s pro-forma revenues towards US$6 billion and provides the additional content, expertise, and expansion opportunities to accelerate DAZN’s growth trajectory.

Foxtel is one of Australia’s leading media companies, with 4.7 million subscribers, who will benefit from DAZN’s extensive portfolio of sports content, platform technology, and global reach.

From its beginnings as Australia’s original pay-TV innovator, Foxtel has evolved to become a digital and streaming leader in sports and entertainment and the proposed transaction positions Foxtel for continued expansion as a digital-first, streaming-focused business. Foxtel will maintain its local character, led by the CEO, Patrick Delany, and his world-class management team.

DAZN, a sports streaming platform with a truly global reach, is committed to growing the global audience for domestic Australian sports across the 200 territories in which it is available.

Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, enabling them to retain an interest in Foxtel.

Shay Segev, Chief Executive Officer of DAZN, said: “Australians watch more sport than any other country in the world, which makes this deal an incredibly exciting opportunity for DAZN to enter a key market, marking another step in our long-term strategy to become the global home of sport. Foxtel is a successful business that has undergone a remarkable digital transformation in recent years, and we are confident that our global reach and relentless pursuit of innovation will continue to drive the business forward and ensure long-term success.

“We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology to further enhance the viewing experience for customers. We are also committed to using our global reach to export Australia’s most popular sports to new markets around the world, and we will continue to promote women’s and under-represented sports.

“We’re looking forward to working closely with Patrick Delany and his team, as well as News Corp and Telstra as shareholders in DAZN, to realise our ambitious vision for the future of sport entertainment.”

Siobhan McKenna, the Chairman of Foxtel, said the agreement with DAZN was international recognition of the transformation of Foxtel from an incumbent pay TV operator to a sports and entertainment digital and streaming leader. “Over the last seven years the Foxtel team, with the strong support of News, have achieved an extraordinary turnaround in an intensely competitive environment.”

Foxtel Group CEO, Patrick Delany, said: “Today’s announcement is a natural evolution for the Foxtel Group, having reinvented the company over the past five years as Australia’s most dynamic technology-led streaming company.

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“Kayo and Foxtel provide Australian sports fans with access to the best Australian and international sport and shows, including AFL, NRL and Cricket with 4.7 million subscribers.

“We are excited by DAZN’s commitment to the Australian market. They are experts in the sports media business and can play a significant role in supporting Foxtel as the business grows its streaming capabilities, bringing a bigger and better service to customers across entertainment, news and sport. They are a perfect match for us as we look toward this next era of growth.

“We have been grateful for the support of News Corp while we reimagined the future of Foxtel. In 2019, when we merged Foxtel and Fox Sports we had many people questioning our future.

“After launching Kayo later in 2019 and BINGE in 2020, today we are the largest Australian-based streamer of sport and entertainment, we have stabilised our Foxtel base and launched Hubbl to help consumers find all the streamed content they love all in one place. This wouldn’t have been possible without the support and encouragement of News Corp.”

 

NOTES TO EDITORS

About DAZN

As a world-leading sports entertainment platform, DAZN streams over 90,000 live events annually and is available in more than 200 markets worldwide.

DAZN is the home of European football, women’s football, boxing and MMA, and the NFL internationally. The platform features the biggest sports and leagues from around the world – Bundesliga, Serie A, LALIGA, Ligue 1, Formula 1, NBA, Moto GP, and many more including the 2025 FIFA Club World Cup.

DAZN is transforming the way people enjoy sport. With a single, frictionless platform, sports fans can watch, play, buy, and connect. Live and on-demand sports content, anywhere, in any language, on any device – only on DAZN.

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DAZN partners with leading pay-TV operators, ISPs and Telcos worldwide to maximise sports exposure to a broad audience. Its partners include Deutsche Telekom, Orange, Sky, Movistar, Telenet, Vodafone, and many more.

DAZN is a global, privately-owned company, founded in 2016, with more than 3,000 employees. The Group generated $3.2bn in revenue in 2023, having grown its annual revenues by over 50% on average from 2020 to 2023, through diverse revenue streams comprising subscriptions, advertising, sponsorship, and transactional. For more information on DAZN, our products, people, and performance, visit www.dazngroup.com.

 

About Foxtel

The Foxtel Group is one of Australia’s leading media companies with 4.7 million subscribers. Its businesses include subscription television, streaming, sports production and advertising. The Foxtel Group is owned 65% by News Corp and 35% by Telstra.

The Foxtel Group’s diversified business includes Fox Sports, Australia’s leading sports production company, famous for live sports and shows with the best commentators and personalities. It is also the home of local and global entertainment content and continues to be the partner of choice for the widest range of sports and international content providers based on established, long-term relationships, growing streaming audiences, and position as the largest Australian-based subscription television company.

View original content:https://www.prnewswire.co.uk/news-releases/dazn-advances-global-expansion-with-acquisition-of-foxtel-a-leading-australian-sports-and-entertainment-media-group-302337997.html

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President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB

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December 20, 2024

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President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo

LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:

“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.

Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.

Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.

It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.

I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”

View original content:https://www.prnewswire.co.uk/news-releases/president-emmerson-mnangagwa-met-this-week-with-zambias-former-vice-president-and-special-envoy-enoch-kavindele-to-discuss-sadcs-candidate-for-the-afdb-302337613.html

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Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security

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2 days ago

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December 20, 2024

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LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.

With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.

Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.

Key Tips to Protect Businesses This Holiday Season:

  1. Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
  2. Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
  3. Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
  4. Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
  5. Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
  6. Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
  7. Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.

“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.

Common Holiday Scams That Businesses Should Watch For:

Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:

  • Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
  • Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
  • Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
  • Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
  • Corporate travel scams: Fake booking platforms targeting business travelers.
  • Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.

For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.

About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.

Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.

For further press information:

Madalina Popovici
Media Relations Manager
[email protected] 

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View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html

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