Q&A with Shirly Valge, COO at Velas Network AG

Media 7 | August 10, 2021

Shirly Valge, COO of Velas Network AG, is an experienced entrepreneur and business development professional with a demonstrated history of working in the crypto industry. She is skilled in global team management, compliance, administrative tasks under the Swiss and EU jurisdiction, blockchain and tokenomics, investor relations, and marketing/PR.

It’s inspiring to collaborate with so many different innovative projects, teams, thought leaders and support their ideas to the execution. In the crypto industry, it’s all about thinking outside the box and being ahead of the curve.



MEDIA 7: Could you please tell us a little bit about yourself and your professional career?
SHIRLEY VALGE
: Born in Estonia right before the Soviet Union collapsed and growing up in the most digitally advanced country where public services started shifting onto distributed ledger technology 20 years ago, IT and tech advancements have always run in my blood. In 2016, when I discovered Bitcoin after looking for low-barrier investment opportunities, I started learning about blockchain and cryptocurrencies more in-depth and since then I have never stopped. A year later I moved to Crypto Valley, Zug in the heart of Switzerland, and as the blockchain and cryptocurrencies were still an emerging industry, I could put my knowledge, experience, and passion into practice as well as become an expert in it at a relatively early stage.

I started at a Crypto Mining Investment company that had its own mining halls by Zürich lake and where I gathered practical knowledge about fundraising via ICO, STO, legal framework necessary, and even how to set up mining rigs among many other things. 2.5 years ago I got introduced to Velas whitepaper, a project which was rooted in Coinpayments.net, the world’s largest payment processing platform. Now Velas, headquartered in Zug is one of the top Crypto Valley Blockchain firms according to PWC and CV VC report and is growing in terms of global team size, new project partnerships, and inhouse developed innovative decentralized products. Velas is the world’s fastest Blockchain enabling up to 75000 tx/s at almost for free, at the highest security.


M7: What are some of the features included in your flagship product, BitOrbit?
SV: 
BitOrbit is a decentralized social media platform and a next-generation, encrypted mobile application, that empowers content creators and influencers through a flexible monetization system, thanks to one-tap payments in crypto or FIAT currency via Coinpayments.net integration and enabling them to keep ownership over their data and content, censorship-free. There is no need for revenue-sharing intermediaries thanks to underlying Blockchain technology, thus 100% of revenue goes directly to content creators.


News announcements and speculation are responsible for fueling price swings in crypto similar to mainstream markets. But their effect is exaggerated in crypto markets as they have less liquidity than traditional financial markets.



M7: Could you tell us more about Velas Network AG’s ecosystem of decentralized products?
SV:
Velas is the only open-source, decentralized blockchain company out there, who has built its in-house ecosystem of products to demonstrate, how easy it can be for anyone, with any technical skillset to use decentralized solutions. The products are designed user-friendly, accessible, and as understandable as centralized products, but without exploiting users' data or creating a single centralized point of authority or failure. Besides the BitOrbit, we have web, desktop, mobile multi-currency wallets which allow storing, transferring, and paying with crypto-currencies, as well as easy staking or delegate staking of the Velas ecosystem native currency - Velas coin. (Staking means buying and setting aside coins, used to validate transactions made through the blockchain) Every user can passi vely earn staking rewards by locking up a certain amount of their coins for some time to support the network. Additionally, we developed a passwordless authentication system, allowing users to securely access a variety of services without a password using just their Velas Account. With Velas Account authentication, interaction with cryptocurrencies is facilitated to the level of centralized technology convenience without sacrificing user privacy and security. Velas Account uses biometric authentication on the user’s device to confirm login requests and transactions.

Velas Vault, a new technology that allows us to accelerate and cheapen transactions from other cryptocurrency systems by leveraging the speed and security of our blockchain. In this way, we can achieve true security for a decentralized custodian. There are some other products planned to be developed in the near future, like decentralized charity platform, to improve the transparency of donation collection; Velasphere which allows monetization of distributed spare computing power and disk space, etc. Last but not the least, Velas is a community-driven project. At any time our community members can vote for the next product our team will place a priority on.


M7: What are some of the biggest challenges the crypto industry is facing at the moment?
SV:
The crypto industry has definitely matured a lot in these recent years and has evolved into a much more serious landscape where institutional investors and corporates are now looking into. This has naturally led regulators to place more stringent compliance measures for the space. The challenge right now, being within the space, is that the regulatory environment is extremely ununified and different from country to country. There are states by now where Bitcoin is accepted as legal tender and some other states where any involvement related to cryptocurrencies is banned and penalized.

When we speak about the technical challenges, it’s how to solve the famous ‘Blockchain Trilemma’ of scalability, decentralization, and security by not sacrificing one aspect over the other. Many companies out there have their own solution to this problem they market themselves with, but only a few have proven the solution in practice.
Another main challenge is interoperability, which Velas tackles with the vault solution, as lack of unity in the space hinders the widespread adoption of Blockchain technologies. Velas is already compatible with all ERC20 chain and Solana chain tokens and via Velas vault, there will be no limits in terms of which tokens can be transacted on the Velas chain.


The crypto industry has definitely matured a lot in these recent years and has evolved into a much more serious landscape where institutional investors and corporates are now looking into. This has naturally led regulators to place more stringent compliance measures for the space.



M7:Today, the crypto market is still quite volatile. How do you see this changing with time?
SV:
Many of the reasons for price volatility in mainstream markets hold true for the crypto market as well. News announcements and speculation are responsible for fueling price swings in crypto similar to mainstream markets. But their effect is exaggerated in crypto markets as they have less liquidity than traditional financial markets. We will see this changing over time with the increase of mass adoption as well as with the emergence of established and widely adopted derivative markets in the crypto asset class.


M7: What inspires you the most about the crypto industry?
SV:
The never-ending learning. The technology and the space evolve at a lightning-fast pace and to keep up with all the daily developments is a challenge on its own and makes the work in this space extremely interesting. Also, it’s inspiring to see the results of your own work and contribution put into developing this innovative and world-changing global ecosystem that Velas is about. It’s inspiring to collaborate with so many different innovative projects, teams, thought leaders and support their ideas to the execution. In the crypto industry, it’s all about thinking outside the box and being ahead of the curve.

ABOUT VELAS NETWORK AG

Velas Network AG is a Swiss headquartered technology company, founded in 2019 and led by a diverse team of engineers, cryptographers, researchers, mathematicians, and results-driven business leaders.

More C-Suite on deck

'AI & ML algorithms will play a critical role in identifying cyber threats,' asserts Trishneet Arora

Media 7 | July 28, 2023

Trishneet Arora, a self-made individual, demonstrated remarkable vision, intellect, and competence when he established a startup at the young age of 19. Under his guidance, the flagship venture has expanded into both the entertainment and educational sectors. With Trishneet at the helm, the potential for growth and success knows no bounds. Let's delve into his insights on securing UPI-based applications.

Read More

‘Data and analytics play a crucial role in shaping our advertising strategies,' asserts Aleksander Groshev

Media 7 | June 28, 2023

Aleksander Groshev is the CEO and Co-Founder of Autobahn Security. Previously he was Vice President of Product responsible for the product development of the SaaS platform. Before joining Autobahn Security he held the position of Head of Product at Fincite, a wealth management B2B platform.

Read More

‘Security solutions need to be consistent, regardless of geography or technical stack,’ emphasizes Nishant Kaushik

Media 7 | June 16, 2023

Nishant Kaushik is an excellent technologist with strategic foresight and tactical know-how to manage technology-driven businesses and security expansion plans. He has successfully led cross-functional and highly focused teams to achieve business objectives that align with customer needs. Read this interview to discover Nishant’s expertise and unique perspective on omnichannel security and risk management.

Read More

'AI & ML algorithms will play a critical role in identifying cyber threats,' asserts Trishneet Arora

Media 7 | July 28, 2023

Trishneet Arora, a self-made individual, demonstrated remarkable vision, intellect, and competence when he established a startup at the young age of 19. Under his guidance, the flagship venture has expanded into both the entertainment and educational sectors. With Trishneet at the helm, the potential for growth and success knows no bounds. Let's delve into his insights on securing UPI-based applications.

Read More

‘Data and analytics play a crucial role in shaping our advertising strategies,' asserts Aleksander Groshev

Media 7 | June 28, 2023

Aleksander Groshev is the CEO and Co-Founder of Autobahn Security. Previously he was Vice President of Product responsible for the product development of the SaaS platform. Before joining Autobahn Security he held the position of Head of Product at Fincite, a wealth management B2B platform.

Read More

‘Security solutions need to be consistent, regardless of geography or technical stack,’ emphasizes Nishant Kaushik

Media 7 | June 16, 2023

Nishant Kaushik is an excellent technologist with strategic foresight and tactical know-how to manage technology-driven businesses and security expansion plans. He has successfully led cross-functional and highly focused teams to achieve business objectives that align with customer needs. Read this interview to discover Nishant’s expertise and unique perspective on omnichannel security and risk management.

Read More

Related News

Software Security

Cyolo Unveils Key Insights into OT Cybersecurity Threat Landscape from KuppingerCole and Releases Cyolo 4.3 for Enhanced Security

Business Wire | September 27, 2023

Today, Cyolo, provider of the fastest and most secure zero-trust access and connectivity solution for hybrid organizations with IT and OT, in partnership with KuppingerCole, released an industry analysis focused on zero trust and remote access for operational technology (OT) environments. The analysis reveals key insights about the OT cybersecurity threat landscape, outlines high-level security architecture for OT, critical infrastructure systems (CIS) and industrial control systems (ICS), and evaluates key requirements of security regulations and frameworks. OT environments experience the same kinds of threats as enterprise IT – including ransomware, account takeovers, APTs, and Supply Chains as vectors – while experiencing expanded OT-specific threats. While traditional IT security tools may be adapted, developing robust security architectures for OT environments is inherently complex compared to their IT counterparts. Its unique nature, from equipment and software to communication protocols requires dedicated OT security solutions. Cyolo can help organizations with OT infrastructure to define and manage access control to those complex environments, said John Tolbert, Lead Analyst at KuppingerCole. Overall key insights include: OT Threat Landscape. Heightened geopolitical factors have intensified attacks on OT and ICS, posing significant consequences ranging from operational disruptions and service denial to financial repercussions and potential harm to human well-being. Core Cybersecurity Regulations. The risks and consequences of cyber-attacks against critical infrastructure advanced regulations globally mandating secure architectures and technical controls. KRITIS and the follow-on IT Security Act 2.0 are related examples of such regulations, as well as the NIST Cybersecurity Framework. OT Security Architectures and Key Functionalities. There are eight areas of functionality that are central to effective OT security architectures. Cybersecurity architectures for OT must address asset discovery, access control, IT security tool integration, detection and response capabilities, and OT protocol level threats. As the analysis breaks down, within critical infrastructure interruptions and downtime are not an option. To address the increasing need for secure access in OT environments, Cyolo introduced Cyolo 4.3, which expands key capabilities with more layers of security and making the product easier than ever to use for both administrators and end users in the industrial space. With Cyolo 4.3, industrial organizations will be able to extend their multi-factor authentication (MFA) across environments through an integration with Duo Security to support their physical tokens as required. Additionally, the company has implemented another layer of security for file transfer within the OT/ICS environment, through query anti-virus software to scan files before they are delivered to their destination. Cyolo is also adapting for further usability, allowing teams to securely invite external users by generating a secure one-time password; and import groups from existing IdPs, using SCIM. “Ensuring the security of critical infrastructure and industrial processes has become increasingly critical as organizations unite their IT and OT systems. This convergence has expanded the OT threat landscape and introduced significant cybersecurity challenges, as the once-isolated OT networks are now vulnerable to the same threats that have targeted IT networks for years” said Joe O'Donnell, Vice President ICS/OT of Cyolo. “With Cyolo 4.3, industrial entities can confidently navigate the complexities of the modern threat landscape and fortify their defenses against evolving cyber threats.” The announcement of Cyolo 4.3 highlights the company’s commitment to advancing zero-trust capabilities and it comes on the heels of Cyolo being listed as a Representative Vendor in the 2023 Gartner® “Market Guide for Zero Trust Network Access” report for the second consecutive year and recognized by Frost & Sullivan with the 2023 North American New Product Innovation Award for Secure Remote Access to Operational Infrastructure and Industrial Control Systems (OT/ICS). As the threats to critical infrastructure continue to evolve, Cyolo zero-trust access solution continues to provide the utmost protection and ease of use. To learn more about Cyolo 4.3, visit here. Access the report for a full view of the industry here. Register here to attend the joint webinar from Cyolo and KuppingerCole on how to achieve secure remote access for OT environments, to be held on Tuesday, October 10 at 7 a.m. PT. About Cyolo Cyolo helps hybrid organizations in the IT and OT spaces to stay safe, secure and productive in an era of distributed workforces and unprecedented cyberthreats. Cyolo’s next-generation zero-trust access solution enables all users, including employees, third parties as well as remote and on-site workers, to connect to their working environments seamlessly and securely via modern identity-based access. Providing one unified solution that integrates with the existing tech stack and deploys easily in the cloud, on-premises or in a hybrid model, Cyolo empowers the global workforce to securely access anything from anywhere.

Read More

Software Security

Keeper Security’s Latest Update Improves Android and User Interface

Keeper Security, Inc. | September 25, 2023

Keeper Security, a prominent cybersecurity software provider specializing in zero-trust and zero-knowledge solutions safeguarding credentials, privileged access, secrets, and remote connections, has announced the unveiling of a new, contemporary User Interface (UI) for the Keeper Password Manager application on Android. This awaited release introduces enhanced usability, intelligent search capabilities, and quicker synchronization times. With a focus on a polished appearance and user-friendly interactions, these enhancements are designed to simplify the utilization of Keeper's robust password and passkey management features, offering improved clarity and search functionality. Keeper has adopted an incremental approach to enhancing the user experience, consistently refining the appearance, usability, and overall feel of its applications while staying mindful of the importance of consistency, familiarity and the world-class security and functionality that Keeper users have come to expect. With this update, Keeper's new user experience has been effectively implemented across all platforms, encompassing desktop, web browsers, and iOS. Android users can also anticipate an upcoming dark mode experience soon. Android users of Keeper will encounter refreshed themes, including a default Light Mode and improved user-selectable themes. Additionally, new features include: Streamlined Usability Friendlier Interface Accessibility and Inclusion Advanced Search Craig Lurey, CTO and Co-Founder of Keeper Security, said, We are excited to introduce these enhancements to our Android app, completing the rollout of our stunning new user interface (UI) to every Keeper user. [Source – Cision PR Newswire] Lurey stated that the update represented their ongoing commitment to delivering the best possible user experience while maintaining the highest security standards. He mentioned that with the improved usability, modernized interface, and lightning-fast sync times, Keeper Password Manager for Android continued to be a go-to solution for organizations and individuals looking to secure their digital identities. About Keeper Security Keeper Security is revolutionizing the way to secure passwords, confidential data, and secrets for individuals and organizations worldwide. The company's user-friendly cybersecurity platform is built on the foundation of zero-trust and zero-knowledge security, providing protection for users on all devices. Its solution is quick to deploy and seamlessly integrates with any technology stack, effectively preventing breaches, lowering help desk expenses, and ensuring compliance. Trusted by millions of individuals and numerous global organizations, Keeper leads in top-tier password management, privileged access, secrets management, secure remote access, and encrypted messaging solutions.

Read More

Software Security

Cisco to Secure Splunk for Resilience and Security in AI-Driven World

Cisco | September 25, 2023

Cisco and Splunk are joining forces to advance organizations from reactive threat handling to proactive threat anticipation and prevention. Together, they will emerge as a major global software entity, boosting Cisco's shift towards recurring revenue. This collaboration unites two esteemed workplaces with shared values, robust cultures, and skilled teams. The synergy between these pioneering companies positions them for leadership in AI-driven security and observability. Anticipated to yield positive cash flow and improved gross margins in the initial fiscal year following the merger, with non-GAAP EPS enhancement expected by year two. Cisco and Splunk, the leader in cybersecurity and observability, today announced a definitive agreement under which Cisco will acquire Splunk for $157 per share in cash, representing an equity value of approximately $28 billion. Gary Steele, president and CEO of Splunk, will join Cisco's Executive Leadership Team upon completion of the acquisition, reporting to Cisco chair and CEO Chuck Robbins. Chair and CEO of Cisco, Chuck Robbins, remarked, We're excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability. From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient. [Source: Cision PR Newswire] Every company relies on data to operate its business and make mission-critical choices in today's hyper-connected environment. Accelerating and adopting generative AI, growing danger surfaces, and different cloud environments offer unprecedented complexity for enterprises. To be digitally resilient, organizations must better manage, preserve, and unleash data's value. Gary Steele, president and CEO of Splunk, stated that they would together form a global security and observability leader that will harness the power of data and AI to deliver outstanding customer outcomes and transform the industry. Steele added that they’re eager to join forces with a trusted and long-time partner who shares their passion for innovation and top customer experience, and they expect their community of Splunk employees to benefit from the greater opportunities as they bring together two purpose-driven and respected organizations. Cisco and Splunk will give insight across hybrid and multi-cloud systems, enabling clients to provide seamless application experiences for digital enterprises. The companies can help other organizations responsibly use AI due to their scale, data visibility, and trust. These two firms will unite to invest more in innovative products, accelerate innovation, and expand globally to serve clients of all sizes. The transaction is expected to be cash flow positive and gross margin accretive in the first fiscal year post-close, with non-GAAP EPS accretive in year two. The acquisition is subject to regulatory approval and customary closing conditions, including approval by Splunk shareholders. Advisors for the Cisco-Splunk acquisition include Tidal Partners LLC, Simpson Thacher & Bartlett LLP Cravath and Swaine & Moore LLP, among others.

Read More

Software Security

Cyolo Unveils Key Insights into OT Cybersecurity Threat Landscape from KuppingerCole and Releases Cyolo 4.3 for Enhanced Security

Business Wire | September 27, 2023

Today, Cyolo, provider of the fastest and most secure zero-trust access and connectivity solution for hybrid organizations with IT and OT, in partnership with KuppingerCole, released an industry analysis focused on zero trust and remote access for operational technology (OT) environments. The analysis reveals key insights about the OT cybersecurity threat landscape, outlines high-level security architecture for OT, critical infrastructure systems (CIS) and industrial control systems (ICS), and evaluates key requirements of security regulations and frameworks. OT environments experience the same kinds of threats as enterprise IT – including ransomware, account takeovers, APTs, and Supply Chains as vectors – while experiencing expanded OT-specific threats. While traditional IT security tools may be adapted, developing robust security architectures for OT environments is inherently complex compared to their IT counterparts. Its unique nature, from equipment and software to communication protocols requires dedicated OT security solutions. Cyolo can help organizations with OT infrastructure to define and manage access control to those complex environments, said John Tolbert, Lead Analyst at KuppingerCole. Overall key insights include: OT Threat Landscape. Heightened geopolitical factors have intensified attacks on OT and ICS, posing significant consequences ranging from operational disruptions and service denial to financial repercussions and potential harm to human well-being. Core Cybersecurity Regulations. The risks and consequences of cyber-attacks against critical infrastructure advanced regulations globally mandating secure architectures and technical controls. KRITIS and the follow-on IT Security Act 2.0 are related examples of such regulations, as well as the NIST Cybersecurity Framework. OT Security Architectures and Key Functionalities. There are eight areas of functionality that are central to effective OT security architectures. Cybersecurity architectures for OT must address asset discovery, access control, IT security tool integration, detection and response capabilities, and OT protocol level threats. As the analysis breaks down, within critical infrastructure interruptions and downtime are not an option. To address the increasing need for secure access in OT environments, Cyolo introduced Cyolo 4.3, which expands key capabilities with more layers of security and making the product easier than ever to use for both administrators and end users in the industrial space. With Cyolo 4.3, industrial organizations will be able to extend their multi-factor authentication (MFA) across environments through an integration with Duo Security to support their physical tokens as required. Additionally, the company has implemented another layer of security for file transfer within the OT/ICS environment, through query anti-virus software to scan files before they are delivered to their destination. Cyolo is also adapting for further usability, allowing teams to securely invite external users by generating a secure one-time password; and import groups from existing IdPs, using SCIM. “Ensuring the security of critical infrastructure and industrial processes has become increasingly critical as organizations unite their IT and OT systems. This convergence has expanded the OT threat landscape and introduced significant cybersecurity challenges, as the once-isolated OT networks are now vulnerable to the same threats that have targeted IT networks for years” said Joe O'Donnell, Vice President ICS/OT of Cyolo. “With Cyolo 4.3, industrial entities can confidently navigate the complexities of the modern threat landscape and fortify their defenses against evolving cyber threats.” The announcement of Cyolo 4.3 highlights the company’s commitment to advancing zero-trust capabilities and it comes on the heels of Cyolo being listed as a Representative Vendor in the 2023 Gartner® “Market Guide for Zero Trust Network Access” report for the second consecutive year and recognized by Frost & Sullivan with the 2023 North American New Product Innovation Award for Secure Remote Access to Operational Infrastructure and Industrial Control Systems (OT/ICS). As the threats to critical infrastructure continue to evolve, Cyolo zero-trust access solution continues to provide the utmost protection and ease of use. To learn more about Cyolo 4.3, visit here. Access the report for a full view of the industry here. Register here to attend the joint webinar from Cyolo and KuppingerCole on how to achieve secure remote access for OT environments, to be held on Tuesday, October 10 at 7 a.m. PT. About Cyolo Cyolo helps hybrid organizations in the IT and OT spaces to stay safe, secure and productive in an era of distributed workforces and unprecedented cyberthreats. Cyolo’s next-generation zero-trust access solution enables all users, including employees, third parties as well as remote and on-site workers, to connect to their working environments seamlessly and securely via modern identity-based access. Providing one unified solution that integrates with the existing tech stack and deploys easily in the cloud, on-premises or in a hybrid model, Cyolo empowers the global workforce to securely access anything from anywhere.

Read More

Software Security

Keeper Security’s Latest Update Improves Android and User Interface

Keeper Security, Inc. | September 25, 2023

Keeper Security, a prominent cybersecurity software provider specializing in zero-trust and zero-knowledge solutions safeguarding credentials, privileged access, secrets, and remote connections, has announced the unveiling of a new, contemporary User Interface (UI) for the Keeper Password Manager application on Android. This awaited release introduces enhanced usability, intelligent search capabilities, and quicker synchronization times. With a focus on a polished appearance and user-friendly interactions, these enhancements are designed to simplify the utilization of Keeper's robust password and passkey management features, offering improved clarity and search functionality. Keeper has adopted an incremental approach to enhancing the user experience, consistently refining the appearance, usability, and overall feel of its applications while staying mindful of the importance of consistency, familiarity and the world-class security and functionality that Keeper users have come to expect. With this update, Keeper's new user experience has been effectively implemented across all platforms, encompassing desktop, web browsers, and iOS. Android users can also anticipate an upcoming dark mode experience soon. Android users of Keeper will encounter refreshed themes, including a default Light Mode and improved user-selectable themes. Additionally, new features include: Streamlined Usability Friendlier Interface Accessibility and Inclusion Advanced Search Craig Lurey, CTO and Co-Founder of Keeper Security, said, We are excited to introduce these enhancements to our Android app, completing the rollout of our stunning new user interface (UI) to every Keeper user. [Source – Cision PR Newswire] Lurey stated that the update represented their ongoing commitment to delivering the best possible user experience while maintaining the highest security standards. He mentioned that with the improved usability, modernized interface, and lightning-fast sync times, Keeper Password Manager for Android continued to be a go-to solution for organizations and individuals looking to secure their digital identities. About Keeper Security Keeper Security is revolutionizing the way to secure passwords, confidential data, and secrets for individuals and organizations worldwide. The company's user-friendly cybersecurity platform is built on the foundation of zero-trust and zero-knowledge security, providing protection for users on all devices. Its solution is quick to deploy and seamlessly integrates with any technology stack, effectively preventing breaches, lowering help desk expenses, and ensuring compliance. Trusted by millions of individuals and numerous global organizations, Keeper leads in top-tier password management, privileged access, secrets management, secure remote access, and encrypted messaging solutions.

Read More

Software Security

Cisco to Secure Splunk for Resilience and Security in AI-Driven World

Cisco | September 25, 2023

Cisco and Splunk are joining forces to advance organizations from reactive threat handling to proactive threat anticipation and prevention. Together, they will emerge as a major global software entity, boosting Cisco's shift towards recurring revenue. This collaboration unites two esteemed workplaces with shared values, robust cultures, and skilled teams. The synergy between these pioneering companies positions them for leadership in AI-driven security and observability. Anticipated to yield positive cash flow and improved gross margins in the initial fiscal year following the merger, with non-GAAP EPS enhancement expected by year two. Cisco and Splunk, the leader in cybersecurity and observability, today announced a definitive agreement under which Cisco will acquire Splunk for $157 per share in cash, representing an equity value of approximately $28 billion. Gary Steele, president and CEO of Splunk, will join Cisco's Executive Leadership Team upon completion of the acquisition, reporting to Cisco chair and CEO Chuck Robbins. Chair and CEO of Cisco, Chuck Robbins, remarked, We're excited to bring Cisco and Splunk together. Our combined capabilities will drive the next generation of AI-enabled security and observability. From threat detection and response to threat prediction and prevention, we will help make organizations of all sizes more secure and resilient. [Source: Cision PR Newswire] Every company relies on data to operate its business and make mission-critical choices in today's hyper-connected environment. Accelerating and adopting generative AI, growing danger surfaces, and different cloud environments offer unprecedented complexity for enterprises. To be digitally resilient, organizations must better manage, preserve, and unleash data's value. Gary Steele, president and CEO of Splunk, stated that they would together form a global security and observability leader that will harness the power of data and AI to deliver outstanding customer outcomes and transform the industry. Steele added that they’re eager to join forces with a trusted and long-time partner who shares their passion for innovation and top customer experience, and they expect their community of Splunk employees to benefit from the greater opportunities as they bring together two purpose-driven and respected organizations. Cisco and Splunk will give insight across hybrid and multi-cloud systems, enabling clients to provide seamless application experiences for digital enterprises. The companies can help other organizations responsibly use AI due to their scale, data visibility, and trust. These two firms will unite to invest more in innovative products, accelerate innovation, and expand globally to serve clients of all sizes. The transaction is expected to be cash flow positive and gross margin accretive in the first fiscal year post-close, with non-GAAP EPS accretive in year two. The acquisition is subject to regulatory approval and customary closing conditions, including approval by Splunk shareholders. Advisors for the Cisco-Splunk acquisition include Tidal Partners LLC, Simpson Thacher & Bartlett LLP Cravath and Swaine & Moore LLP, among others.

Read More

Spotlight

Velas Network AG

Velas Network AG

Velas Network AG is a Swiss headquartered technology company, founded in 2019 and led by a diverse team of engineers, cryptographers, researchers, mathematicians and results-driven business leaders....

Events

Resources