DATA SECURITY, ENTERPRISE SECURITY, SOFTWARE SECURITY

Titan Security Group Announces Acquisition of Prudential Security, Inc.

Titan Security | September 06, 2022 | Read time : 02:50 min

Titan Security
Titan Security Group, LLC , a leading provider of security solutions headquartered in Chicago, IL, announced today that it has completed the acquisition of the security staffing operation of Prudential Security, Inc. ("Prudential"), a security solutions provider based in Taylor, Michigan. Titan is a portfolio company of Quad C Management, Inc.

"We are very excited to welcome the Prudential team to the Titan family. "Our organizations are very complementary, with shared values, culture, and focus on providing a high level of service to our clients and team members. Together, we are better positioned to be a leading regional provider of high-end security services."

Dave Pack, CEO of Titan

Titan's acquisition of Prudential adds over 700 team members to the Titan brand and expands their existing service area to 14 states including Illinois, Michigan, Wisconsin, Indiana, Alabama, Kansas, Mississippi, North Carolina, New York, Ohio, Pennsylvania, South Carolina, Tennessee, and Texas.

"This is an exciting collaboration," said Pack. "Our acquisition strategy is to identify like-minded companies, such as Prudential.  Applying our combined talent and resources will lead to new opportunities for our clients and team members."

Terms of the acquisition were not disclosed. Security ProAdvisors LLC represented Prudential Security Inc. in the transaction.

About Titan Security
Titan Security is one of the largest security services firms in the U.S. providing security staffing, consulting, and systems integration of enterprise security solutions including video surveillance, electronic access control, turnstiles, biometrics, visitor management, alarm monitoring and other solutions throughout the Chicago metropolitan area, Northern Indiana and Southern Wisconsin.

About Prudential
Prudential Security is a recognized leader in the security industry, providing a full range of security solutions to its clients in a wide range of industries. Prudential has built its business with a strong foundation of customer service and responsiveness. Prudential's longtime management team responds attentively to client concerns and issues, developing relationships with all clients, and forming a longstanding base of business, allowing Prudential to grow into one of the most sought-after security providers in the country.

About Quad-C
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, food & beverage and consumer products, healthcare, industrials, specialty distribution and transportation/logistics companies. In its three-decade history, Quad-C has invested over $4.0 billion of capital in 80 platform companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.

Spotlight

It would be hard to imagine a scenario in which cybersecurity is not a pressing government priority.Activist hackers invade government networks to get their message across, while federal employers are probing their operations even peering into their workers' communications in search of breaches. New technologies emerge every day in the battle to bolster security Software solutions provider Deltek estimates the federal government spent nearly $10 billion on cybersecurity contracts in 2012. That number is projected to reach more than $14 billion by 2017. Industry professionals and government technology leaders expect cybersecurity to be the fastest growing area of federal IT investment during the next few years, according toa recent Deltek survey.It shouldn't come as a surprise. In an August 2012 study from the Government Accountability Office, 18 of 24 major agencies reported inadequate information security controls, while inspectors general at 22 of those agencies identified information security as a critical management challenge.


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DATA SECURITY,PLATFORM SECURITY,SOFTWARE SECURITY

Fordefi Raises $18M Seed Round to Launch Institutional DeFi Wallet and Security Platform

Fordefi | November 09, 2022

Fordefi, a financial technology and software company, today announced an $18 million seed round and the public launch of its institutional MPC wallet built for transacting on decentralized applications (dApps). Led by Lightspeed Venture Partners, the investors of the firm's initial capital raise also include Electric Capital, Alameda Research, Jump Crypto, Castle Island, Pantera Capital, Illuminate Financial, PayPal Alumni Fund, Nima Capital, Digital Currency Group, Defiance Capital and StarkWare. "The Fordefi team is bringing to market a solution that addresses two of the biggest challenges in DeFi today: institutional-grade security and smart contract transparency," said Sam Harrison, Senior Advisor at Lightspeed Venture Partners and Managing Partner at Faction. "We are excited to support an experienced team bringing a powerful solution to market that directly solves pain points that have held institutions back from achieving the full potential of decentralized finance." "Wallet hacks made major headlines this year. Until now, decentralized finance was missing a secure, stable, and seamless way to connect to dApps," said Ken Deeter, Partner at Electric Capital. "Fordefi's single-browser extension paired with a top-notch institutional grade MPC wallet platform will unlock opportunities across DeFi for all crypto-native institutions. We're excited to be part of Fordefi's journey, as an investor, design partner and customer." Introducing the Fordefi Platform Co-founders Josh Schwartz, CEO, Dima Kogan, CTO, and Michael Volfman, Vice President of Research and Development, began developing the Fordefi platform in 2021, an unprecedented year for crypto adoption, as institutions took notice of the explosive growth and massive volumes of digital assets moved into the markets. A boom in the development of new blockchains and decentralized applications created opportunities for investing that institutions could not safely participate in, as available wallets had been designed years before and lacked the technology to securely and confidently connect them. "Decentralized finance is evolving quickly and its complexities require a dynamic solution," said Schwartz. "Legacy wallet providers are unable to meet the needs of institutions that want to access the new opportunities DeFi has created while ensuring their assets are protected. Fordefi has taken a DeFi-first approach and has built a solution engineered for how clients interact with dApps." "DeFi transactions are much more complex than simple asset transfers, and that's the key to DeFi's exciting new opportunities," said Kogan. "Unfortunately, this complexity also brings with it many new security risks. Fordefi enables institutions to interact with DeFi applications with increased operational efficiency and security through in-depth visibility into each transaction and the ability to set the right controls." A first of its kind wallet and security platform, Fordefi enables market participants to easily and securely connect to decentralized applications. Fordefi's platform is the only institutional MPC wallet on the market built for firms transacting on decentralized applications across blockchains. The solution delivers a previously unavailable degree of insight into transactions, translating smart contracts into language that users can understand, simulating every transaction in advance and independently verifying dApp names. Its advanced MPC key management capabilities are built to protect against any single point of failure, and the platform's unique policy management capabilities offer users the ability to create and define their own workflows, proactively protecting themselves from both internal and external vulnerabilities. "Fordefi has been a tremendous addition to our DeFi workflow. We've seen accelerated deployment efficiency across a comprehensive set of on-chain opportunities, alongside enhanced user intuitiveness and without compromising security." Shane Al, Head of Investments at Arc Capital and Fordefi design partner. "The Fordefi platform provides robust solutions for institutions to access thousands of DeFi opportunities with the highest levels of security. The platform is extremely customizable and allows us to manage our own policies and controls, ensuring a balance between flexibility and security - crucial for liquid fund strategies." Jacob Goh, Head of Operations & Investor Relations at DeFiance Capital, Fordefi investor and design partner. About Fordefi Fordefi's MPC wallet platform and Web3 gateway enables institutions to seamlessly connect to dApps across a wide range of chains while keeping digital assets secure. Fordefi is the first institutional MPC wallet and security platform built for decentralized finance (DeFi), offering MPC key management, self-serve DeFi policy controls, time-of-transaction smart contract insights, transaction simulation and risk alerts. Fordefi was founded in 2021 by crypto custody and cybersecurity experts, and designed in close collaboration with industry-leading trading firms, funds and custodians. Fordefi is a financial technology and software company with offices in New York and Tel Aviv. About Fordefi's Founders Josh Schwartz, Dima Kogan and Michael Volfman founded Fordefi after establishing themselves with decades of experience as leaders in crypto, cybersecurity, and financial services. Schwartz served as Chief Operating Officer at Curv, an institutional MPC wallet acquired by PayPal in 2021, and was Vice President of Sales at digital custody platform BitGo. Dr. Kogan's career spans more than 15 years in academia, industry and government. He received his PhD from Stanford with a specialization in applied cryptography and was awarded the "Best Young Researcher" prize at Eurocrypt 2018, the Theory of Cryptography Conference 2019, and Eurocrypt 2020. Volfman is an engineering manager with 20 years of experience in cybersecurity, serving as Vice President of R&D at Toka, was Chief Technology Officer and co-founder of an edtech startup, and a Director at Guardicore.

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DATA SECURITY, PLATFORM SECURITY, SECURITY AUDIT AND COMPLIANCE

CrowdStrike and EY Expand Global Alliance to Deliver Cloud Security and Observability Services

CrowdStrike | October 27, 2022

CrowdStri, a leader in cloud-delivered protection of endpoints, cloud workloads, identity and data, and Ernst & Young LLP (EY US), a leading organization in cyber risk consulting services, today announced an expanded relationship to deliver Cloud Security and Observability services globally, powered by the CrowdStrike Falcon platform. This collaboration expands on existing services previously announced including: Ransomware Readiness and Resilience; Incident Response (IR), Recovery and Remediation; Identity Assessment; and Zero Trust capabilities. “The CrowdStrike-EY Alliance combines CrowdStrike’s leading cloud security and observability solutions with the transformational consulting capabilities and services provided by EY,” said Michael Rogers, vice president of global alliances at CrowdStrike. “Our expanded alliance now provides joint customers the ability to secure their cloud workloads with CrowdStrike Cloud Security, as well as ingest their log and event data at scale with CrowdStrike Falcon LogScale, providing real-time visibility to better understand and assess issues in their infrastructure environments.” “Cloud security and observability continue to be key priorities for our clients. Our expanded alliance with CrowdStrike is critical in helping organizations address new and emerging threats,” said Dave Burg, EY Americas Cybersecurity Leader. “As a result of this relationship expansion, EY will implement CrowdStrike Cloud Security and CrowdStrike Falcon LogScale to help clients confidently secure their cloud workloads and operationalize the data they are generating for increased visibility.” Cloud Security The EY Cloud Security service offering leverages CrowdStrike Cloud Security, a CNAPP solution with agent-based and agentless protection, with EY’s cybersecurity professionals to accelerate the journey of clients through alignment and implementation of appropriate controls as part of the shared responsibility model. This enables DevOps and infrastructure runtime scanning teams to: Securely move to the cloud: Build a secure and compliant path to production by assessing, architecting, implementing and optimizing key cloud security controls, whether hybrid or multi-cloud. Secure business-critical workloads: Reduce the overhead, friction and complexity associated with protecting cloud workloads, containers and serverless environments, and transform the lengthy risk and audit processes into automated and continuous ones. Shift left securely: Automate the secure development of cloud-native applications, delivering full-stack protection and compliance for containers, Kubernetes and hosts across the container lifecycle. Observability The EY NextGen SOC service offering utilizes CrowdStrike Falcon LogScale, a modern log management solution, with EY’s SOC transformation practice to help clients – such as Mondelēz International – transform and optimize their cyber risk management operations practices by assessing, designing, building, improving, operating and automating their security operations and cyber defense capabilities. This enables DevOps, SecOps and IT Ops teams to: Decrease mean time to detection (MTTD): Evaluate all security use cases with EY’s SOC Transformation services and optimize them with Falcon LogScale, which provides real-time streaming, searching and alerting. Reduce complexity and increase visibility: Spend less time managing and maintaining disparate environments and more time triaging incidents with Falcon LogScale, which centralizes all logs in a single dashboard and reduces the time spent filtering data. EY can guide clients in maximizing their most important resource – people. Lower total cost of ownership (TCO): Remove the limitations present in traditional logging solutions by leveraging Falcon LogScale’s index-free architecture, which provides seamless data ingestion, reduced infrastructure costs and lower operational costs. EY can help clients to reduce their TCO and drive relevant business insights by assisting in their identification and prioritization of their capital and operational investments. “EY and CrowdStrike Falcon LogScale have enabled a global, multi-functional log management solution for our growing IT, security and compliance requirements,” said Kostas Georgakopoulos, CTO & CISO at Mondelēz International. The Cloud Security and Observability services are generally available for customers. About CrowdStrike CrowdStrike, a global cybersecurity leader, has redefined modern security with one of the world’s most advanced cloud-native platforms for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data. Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities.

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DATA SECURITY, PLATFORM SECURITY, SOFTWARE SECURITY

Absolute Software Adds Trellix Endpoint Security to Application Resilience Ecosystem

Absolute Software | September 20, 2022

Absolute Software™ , the only provider of self-healing, intelligent security solutions, today announced a partnership with Trellix, enabling Absolute Resilience® customers to extend its patented Absolute Persistence® technology to Trellix Endpoint Security (ENS). With this latest addition to the company’s Application Resilience™ ecosystem, joint customers can leverage the power of Absolute’s firmware-embedded connection to ensure Trellix’s leading endpoint protection solution remains healthy, installed, and working effectively. Anchored by its unique Persistence technology residing embedded in more than 600 million endpoints, Absolute provides an undeletable digital tether to every device to help ensure the highest levels of resiliency. Absolute Application Resilience leverages this unbreakable, two-way connection to monitor mission-critical security applications’ health and behavior; detect if missing, corrupted, or not running; and automatically repair or reinstall components when necessary - without requiring human intervention. “Our unique intelligence shows that today’s complex and widely distributed device environments have put endpoint agents at constant risk of colliding with other applications, or being disabled by malicious or negligent users. “By joining our Application Resilience ecosystem, Trellix is taking the critical steps needed to enable our joint customers to harden their mission-critical endpoint application and strengthen their overall endpoint security posture.” Edward Choi, SVP of Global Alliances at Absolute Software “We are proud to collaborate with leading software vendors to improve security outcomes for our customers,” said Britt Norwood, Senior Vice President, Global Channels & Commercial at Trellix. “Organizations across the globe rely on Trellix every day to protect, and adapt to, their changing business needs in a dynamic threat landscape. We’re thrilled to see Absolute Software support Trellix ENS in its Application Resilience ecosystem and extend this value to our joint customers.” Trellix Endpoint Security is part of an integrated suite of technologies that uses analytics and machine learning to provide effective protection—including the flexibility to connect to security products from other vendors. Trellix endpoint solutions enable organizations to apply proactive threat intelligence and defenses across the entire attack lifecycle. Absolute’s expansive Application Resilience catalog is comprised of more than 60 security and business applications needed to enable a secure, reliable, and resilient work from anywhere experience. About Absolute Software Absolute Software is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by nearly 18,000 customers, G2 recognized Absolute as a leader for the tenth consecutive quarter in the Summer 20022 Grid® Report for Endpoint Management and as a high performer in the G2 Grid Report for Zero Trust Networking.

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DATA SECURITY, ENTERPRISE IDENTITY

Keeper Security's Cybersecurity Census Finds U.S. Businesses are Unprepared for Escalation in Cyberattacks

Keeper Security | September 15, 2022

Keeper Security, the leading provider of zero-trust, zero-knowledge and FedRAMP Authorized cybersecurity software, today released findings from its second annual Cybersecurity Census. The report explores insights from IT decision-makers at businesses and organizations across the U.S., revealing that most respondents expect the onslaught of cyberattacks to intensify over the next year, yet 32% lack a management platform for IT secrets–posing a significant risk to organizational security. The 2022 U.S.Cybersecurity Census Report explores the ongoing threats of cyberattacks and the need for cybersecurity investment. The report maps the evolving cybersecurity landscape as hybrid and remote work have transformed businesses over the past two years. According to survey findings, the average U.S. business experiences 42 cyberattacks annually—between three to four each month. Still, fewer than half (44%) of respondents provide their employees with guidance or best practices for governing passwords and access management. IT leaders reveal a lack of preparedness for cyberattacks U.S. businesses face many cyberattacks each year, significantly impacting their organizations. Most respondents agree the total number of attacks will increase over the next year, with 39% predicting the number of successful cyberattacks will also rise. Most organizations in the U.S. believe they're prepared to fend off cyberattacks, with 64% of respondents rating their preparedness at least an eight on a 10-point scale and 28% rating themselves as a 10/10. At the same time, the majority of respondents (57%) say it is taking longer to respond to attacks and only 8% say responses are getting faster. Though most report feeling prepared for attacks, leaders admit their tech stacks lack essential tools. Nearly one-third of respondents (32%) lack a management platform for IT secrets, such as API keys, database passwords and privileged credentials. 84% are concerned about the dangers of hard-coded credentials in source code but 25% don't have software to remove them. More than one-quarter of respondents (26%) said they lack a remote connection management solution to secure remote access to IT infrastructure. With the rise in hybrid work and remote work, this is a significant security gap. This lack of investment in cybersecurity tools is alarming, especially considering the lasting impact of cyberattacks that survey respondents revealed. Nearly one-third (31%) suffered a disruption of partner or customer operations in the wake of a cyberattack and the same percentage experienced theft of financial information. 18% of organizations experienced theft of money, with the average amounting to more than $75,000, while 37% lost $100,000 or more. 23% experienced the inability to carry out business operations. In addition to direct costs, cyberattacks can cause lasting damage to business perception and client trust. More than one-quarter of respondents (28%) suffered reputational damage due to a successful cyberattack and 19% reported losing business or a contract. "The volume and pace at which cyberattacks are hitting businesses is increasing and with that come severe financial, reputational and organizational penalties," said Darren Guccione, CEO and co-founder of Keeper Security. "Leadership must prioritize cybersecurity, enabling their security teams to address rapid shifts in technology and distributed remote work. The impact these shifts have on cybersecurity are both pervasive and extreme. Building a culture of trust, accountability and responsiveness is critical." U.S. businesses must take immediate action against cyber threats Cybersecurity is a pillar of every good business and these findings underscore the need for business leaders to make cybersecurity a part of organizational culture. U.S. business leaders are working to source the necessary talent to stay secure. Nearly three-quarters (71%) of respondents have made new hires in cybersecurity over the past year and 58% say they've increased cybersecurity training. A devastating cyberattack is one stolen password away, but despite this threat, fewer than half (48%) of respondents state they have plans to invest in password management, visibility tools for network-based threats or infrastructure secrets management. Only 44% of respondents provide their employees with guidance and best practices governing passwords and access management. 30% of respondents allow employees to set and manage their passwords and admit that employees often share access to passwords. A mere 26% have a highly sophisticated framework for visibility and control of identity security. Many organizations are considering future investments with 73% of respondents expecting their cybersecurity budgets to increase. However, they face being outmatched by rising external threats and the demands created by existing weaknesses. Cybersecurity in company culture Employees understand the dangers of both external and internal threats. An overwhelming 79% of IT professionals are concerned about a breach from within their organization and 47% have suffered a breach of that nature. As more employees work remotely, businesses must rethink their investments in order to maintain security. In fact, 40% of respondents highlighted remote and hybrid work as a top concern, with rising external threats close behind at 39%. IT leaders themselves admit a lack of transparency in cyber incident reporting within their organizations, with nearly half of respondents (48%) being aware of a cyberattack, but keeping it to themselves. Businesses must foster a sense of trust and transparency in their organizations, creating an open dialogue to recognize the scale of the cybersecurity challenges their organization faces. Only with that recognition can resources be devoted to education and embedding a cybersecurity mindset into the organization's culture. Keeper's 2022 U.S. Cybersecurity Census Report demonstrates that cyberattacks present a profound and ongoing threat. Preventative measures, including investment, education and cultural shifts, are essential for businesses to drive resilience and protect their organizations from cybercriminals. Methodology The report yielded results from 516 IT leaders and decision-makers in businesses across the U.S. About Keeper Security Keeper Security, Inc. ("Keeper") is transforming the way organizations and individuals protect their credentials, secrets, connections and sensitive digital assets to significantly reduce the risks of identity security-related cyberattacks, while gaining visibility and control. Keeper is the leading provider of zero-trust and zero-knowledge security cloud services trusted by millions of people and thousands of organizations for password management, secrets management, privileged access, secure remote infrastructure access and encrypted messaging.

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Spotlight

It would be hard to imagine a scenario in which cybersecurity is not a pressing government priority.Activist hackers invade government networks to get their message across, while federal employers are probing their operations even peering into their workers' communications in search of breaches. New technologies emerge every day in the battle to bolster security Software solutions provider Deltek estimates the federal government spent nearly $10 billion on cybersecurity contracts in 2012. That number is projected to reach more than $14 billion by 2017. Industry professionals and government technology leaders expect cybersecurity to be the fastest growing area of federal IT investment during the next few years, according toa recent Deltek survey.It shouldn't come as a surprise. In an August 2012 study from the Government Accountability Office, 18 of 24 major agencies reported inadequate information security controls, while inspectors general at 22 of those agencies identified information security as a critical management challenge.

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