It’s only a matter of time before we’re hit with another massive cyberattack. Unfortunately, it’s no longer a question of if, but when. Even “The U.S. is currently not designed to act with the speed and agility necessary to defend the country in cyberspace. Our country has lost hundreds of billions of dollars to nation-state-sponsored intellectual property theft using cyber espionage,” as noted by the Cyberspace Solarium Commission, as quoted by Fox Business. Cities, hospitals, schools, government agencies are all vulnerable. It’s why we’re seeing a surge of interest in cybersecurity companies, like Plurilock Security (TSXV:PLUR) (OTC:PLCKF), FireEye Inc. (NASDAQ:FEYE), Palo Alto Networks (NYSE:PANW), Fortinet Inc. (NASDAQ:FTNT), and Check Point Software Technologies (NASDAQ:CHKP).
Even some of the biggest companies in the world have been hit. In fact, even after numerous security warnings, a U.S. pipeline came under attack. US Colonial’s pipeline was shut down after a ransomware attack. Considering the company supplies refined oil products to meet about 45% of the consumption needs of the U.S. East Coast, it was a big deal. Again, it’s only a matter of time before we see another major cyberattack, which we have to prepare for.
Plurilock Security (TSXV:PLUR)(OTC:PLCKF) Signs Two Contracts with U.S. Federal Agency
Plurilock Security, an identity-centric cybersecurity solution provider for workforces, is pleased to announce that it has signed two contracts worth a combined total of approximately US$280,000 with a U.S. Federal Agency under NASA’s Solution for Enterprise-Wide Procurement, a United States Government-Wide Acquisition Contract Vehicle.
According to the terms of the first SEWP contract, hardware support on the U.S. Federal Agency’s Dell Storage Array has been renewed. Under the second SEWP contract, Atlassian software licenses have been sold to the agency and the Company will provide maintenance support for these products.
Given the pipeline of recent contracts signed by Plurilock, the Company continues to expand sales within the government vertical in order to establish a recurring client base.
Other related developments from around the markets include:
FireEye Inc., the intelligence-led security company, announced new Cyber Risk Management Services from Mandiant. Mandiant Cyber Risk Management Services are designed to address critical business and security requirements to equip executives, boards of directors, and security and cross-functional leaders with risk-based data and advice to build effective and balanced security programs. “When developing a corporate security strategy and program, it is imperative to identify the areas and assets with the highest business value and those with the most significant threats and vulnerabilities. Mandiant Cyber Risk Management Services are designed to balance business and technical considerations and provide executives with risk-based decision support,” said Jurgen Kutscher, Executive Vice President, Service Delivery, Mandiant Consulting. “Mandiant brings unparalleled frontline expertise and analysis to help business leaders focus on running their businesses more securely by prioritizing their security investments to maximize risk reduction.”
Palo Alto Networks, the global cybersecurity leader, announced financial results for its fiscal third quarter 2021, ended April 30, 2021. Total revenue for the fiscal third quarter 2021 grew 24% year over year to $1.1 billion, compared with total revenue of $869.4 million for the fiscal third quarter 2020. GAAP net loss for the fiscal third quarter 2021 was $145.1 million, or $1.50 per diluted share, compared with GAAP net loss of $74.8 million, or $0.77 per diluted share, for the fiscal third quarter 2020.
Fortinet Inc., a leader in broad, integrated, and automated cybersecurity solutions, announced that Fortinet has been named a manufacturer on the Information Technology Enterprise Solutions – Software 2 (ITES-SW2) contract for the U.S. Army Computer Hardware Enterprise Software and Solutions (CHESS). This contract is held by Carahsoft Technology Corp., The Trusted Government IT Solutions Provider, and is effective through August 30, 2025. ITES-SW2 is a firm-fixed price, indefinite delivery/indefinite quantity contract vehicle for commercial off-the-shelf software products and related services and hardware. The contract has no fees, and ordering is open to all Army, DoD and Federal agencies and authorized systems integrators on a worldwide basis. Under this contract, Carahsoft provides cybersecurity solutions from Fortinet to support Federal agencies’ enterprise infrastructure goals.
Check Point Software Technologies, a leading provider of cyber security solutions globally, announced it has been named a Microsoft Security 20/20 award winner for the Most Transformative Integration Partner category. The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation, integration, and customer implementation with Microsoft technology. “The rapid transformation to remote work and cloud connectivity has opened many security gaps for organizations,” said Erez Yarkoni, Head of Cloud and Telco Sales at Check Point Software Technologies. “Together, Microsoft and Check Point deliver one of the most advanced threat prevention solutions to Azure customers, keeping their cloud network, data and applications protected from the most sophisticated cyberattacks today. Check Point is honoured to be recognized for demonstrating excellence in innovation, integration, and customer implementation with Microsoft technology.”
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