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M&A Frenzy in Cybersecurity Industry Poised to Become $2 Trillion Market
USA News Group Commentary
Issued on behalf of Integrated Cyber Solutions Inc.
VANCOUVER, BC, May 13, 2024 /PRNewswire/ — The necessity of cybersecurity measures continues to grow rapidly, with the costs of cybercrime soaring to an alarming $8 trillion. According to a report from McKinsey and Company, the global cybersecurity market is projected to explode tenfold to between $1.5-2 trillion in the next few years. In response, several major M&A deals are stirring in the sector, including Rockwell Automation, Inc. (NYSE:ROK) acquiring Verve Industrial Protection, Honeywell International Inc. (NASDAQ:HON) acquiring SCADAfence, and AT&T Inc. (NYSE:T) forming a joint venture with WillJam Ventures. As the sector continues to grow, the market is affixed on the developments of over up-and-coming cybersecurity firms that could be prime targets, including Integrated Cyber Solutions Inc. (CSE:ICS) and OneSpan Inc. (NASDAQ:OSPN).
Standing out from the emerging crowd is Integrated Cyber Solutions Inc. (CSE:ICS) with its robust product offerings and strategic strengths. Central to their suite is the IC360 Platform, a comprehensive cyber command center that integrates various cybersecurity solutions into one cohesive system, leveraging advanced Artificial Intelligence (AI) and Machine Learning (ML) for rapid threat detection and response.
Since going public earlier this year, Integrated Cyber has exceled in offering a full spectrum of services, including Managed Detection and Response (MDR), proactive Vulnerability Management, and comprehensive Cyber Training & Awareness programs. These offerings are designed to cater to the unique needs of small-to-medium businesses and enterprises, providing them with sophisticated yet user-friendly cybersecurity solutions. Their approach not only focuses on protecting digital assets but also emphasizes the importance of proactive defense and employee education, positioning them as a versatile and forward-thinking player in the cybersecurity market.
Recently, their progress has included the introduction of new solutions catering to Small-to-Medium-Business (SMB) and Small-to-Medium Enterprise (SME) sectors and the significant customer renewal and expansion of services with a longstanding client in the power, renewables, and broader energy value chain sector.
Integrated Cyber’s role in protecting against attacks on the energy sector is timely, as these costly events have become more commonplace. A recent example was the cyberattack earlier in 2023 on Suncor Energy, which experts pegged to carry a hefty price tag of millions of dollars to resolve.
Embedded within the announcement of their latest customer renewal, Integrated Cyber stated it had initially begun their relationship through their “land and expand” business model.
“While the cybersecurity companies targeting SMBs and SMEs are nascent, they already represent billions in revenue,” said Alan Guibord, CEO of Integrated Cyber Solutions. “With hundreds of thousands of targeted businesses in just the U.S. and Canada, this market yearns for premium services—akin to those enjoyed by large corporations—but at cost-effective prices.”
Throughout the course of the relationship, Integrated Cyber has delivered its client Managed Detection and Response (MDR) services. Over the years since establishing the relationship, ICS has successfully improved the client’s security profile across multiple locations, while delivering value and growth alongside their clients. In particular, the MDR process is part of a greater Managed Cyber Security Awareness and Training platform, utilizing the Proofpoint platform, which private equity firm Thoma Bravo acquired for $12.3 billion in 2021.
In another case of an up-and-coming player in the cybersecurity field, OneSpan Inc. (NASDAQ:OSPN) has launched its own passwordless, phishing-resistant authentication platform to secure the workforce, further helping to protect companies from employee error. The latest in OneSpan‘s Digipass Authenticators product line, the new DIGIPASS FX1 BIO offering empowers organizations to embrace passwordless authentication while providing the utmost security against social engineering and account takeover attacks.
“In the Web3 era, we firmly believe that a one-size-fits-all approach to security is insufficient,” said Matthew Moynahan, president & CEO at OneSpan. ” In a world where security needs to take precedence, DIGIPASS FX1 BIO presents a solution to the challenges faced by modern enterprises, providing a secure and user-friendly environment for an organization’s workforce.”
According to the launch announcement, DIGIPASS FX1 BIO provides a cost-efficient, adaptable, and future-proof solution that overcomes traditional multi-factor authentication (MFA) limitations. With DIGIPASS FX1 BIO, organizations can safeguard employees, partners, and corporate resources while enabling a flexible ‘work from anywhere, anytime, on any device’ policy without compromising security.
Following up on its announced expanded use of SaaS-powered industrial cybersecurity platform Claroty xDome to its global services portfolio, Rockwell Automation, Inc. (NYSE:ROK) recently acquired Verve Industrial Protection—which focuses on the growing threat of cyber attacks on operational technology (OT) and industrial control systems (ICSs).
“In today’s rapidly digitizing world, providing our clients with advanced, cloud-based OT security isn’t just a value-add; it’s a necessity,” said Matt Kennedy, Rockwell Automation‘s vice president, Global Capabilities and Innovation, Lifecycle Services. “Rockwell Automation combined with Claroty xDome enables industrial organizations to make even greater strides with their digital transformation while keeping operations secure.”
According to a joint research report, published with the Cyentia Institute, Rockwell Automation has revealed a significant increase in these types of attacks, with 60% resulting in operational disruption.
“Energy, critical manufacturing, water treatment and nuclear facilities are among the types of critical infrastructure industries under attack in the majority of reported incidents,” said Mark Cristiano, commercial director of Global Cybersecurity Services at Rockwell Automation. “Anticipating that stricter regulations and standards for reporting cybersecurity attacks will become commonplace, the market can expect to gain invaluable insights regarding the nature and severity of attacks and the defenses necessary to prevent them in the future.”
Setting its sights on the manufacturing sector’s deep vulnerabilities tied to the Internet of Things (IoT), Honeywell International Inc. (NASDAQ:HON) acquired Israel-based SCADAfence in the summer. The deal provided Honeywell with additional technology and expertise, and included an integrated platform meant for manufacturers, process industries and infrastructure providers.
“SCADAfence is an ideal complement to Honeywell’s OT cybersecurity portfolio” said Michael Ruiz, GM of Honeywell Cybersecurity Services. “When combined with the Honeywell Forge Cybersecurity+ suite, it enables us to provide an end-to-end solution with applicability to asset, site and enterprise across key Honeywell sectors.”
Lastly, telecom giant AT&T Inc. (NYSE:T) announced it is set to form a joint venture with WillJam Ventures to provide managed cybersecurity services to enterprises. As per the deal, AT&T will have an ownership stake and board representation in the new joint venture, which is still yet to be named.
“Working together we’ll be uniquely positioned to protect organizations globally and WillJam Ventures is excited to extend our relationship with AT&T as its preferred cybersecurity provider for business customers going forward,” said Bob McCullen, managing partner of WillJam Ventures.
While there will be some AT&T employees who move over to the JV, the full details of the entity have yet to be disclosed. AT&T expects the transaction to close in the first quarter of 2024.
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Integrated Cyber Solutions Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Integrated Cyber Solutions Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Integrated Cyber Solutions Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares Integrated Cyber Solutions Inc. at any time without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, we currently own shares of Integrated Cyber Solutions Inc. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
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Latest News
COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches
HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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Latest News
Stake and Earn with KuCoin’s Innovative GemPool Platform
VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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