MOUNTAIN VIEW, Calif., Dec. 14, 2015 /PRNewswire/ -- CYBERBIT took the honors in the Competitive Strategy Innovation and Leadership category at the 2015 Excellence in Best Practices Awards, Frost & Sullivan's yearly black-tie event that recognizes top achievers and innovators. Yair Cohen, VP, Business Development, joined an exclusive list of luminaries when he accepted the award on behalf of CYBERBIT at the glittering ceremony at the Monte-Carlo Bay Hotel & Resort, Monaco, on October 22, 2015.
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CYBERBIT is a subsidiary of Elbit Systems, Israel's major cyber security provider and a significant participant in the world market. In line with its expansion goals, Elbit Systems procured the cyber and intelligence division of global major Nice. This move resulted in the formation of the market-altering company, CYBERBIT.
"The thinking behind establishing a subsidiary instead of an operational unit was to offer the company the flexibility to operate freely in the global market, especially in the commercial, non-defense segments," said Frost & Sullivan Consulting Manager Yaki Baranes. "In a relatively short time, CYBERBIT has developed impressive, high-end, standalone products and fully integrated solutions that deliver end-to-end capabilities to its intelligence and cyber security customers."
CYBERBIT's cyber security solution, CyberShield Suite, is a comprehensive suite of capabilities that combine advanced malware detection, mitigation and response across multiple types of IT and supervisory control and data acquisition (SCADA) networks. These product advantages have helped CYBERBIT win major deals in Israel and establish itself as a local leader. The company has made the most of this popularity to win foreign projects as well.
In May 2015, it was announced that CYBERBIT acquired Nice Systems' Cyber and Intelligence Division. This is a bold move and will have far-reaching implications. First, Nice's cyber and intelligence solutions are complementary to CYBERBIT's, which strengthens the latter's solutions and product portfolio. The acquired assets allow the company to provide end-to-end and fully integrated solutions, as well as standalone cyber products to commercial end users. Second, the acquisition automatically created a new cyber company that almost overnight became a significant player to be reckoned with, as it inherited the clients of both Elbit and Nice.
Major defense and security companies find it more viable to deal with projects instead of selling cyber products due to issues of scale and profitability. This creates a situation wherein the market for small- to-medium-sized enterprises is almost never addressed. Consequently, CYBERBIT's ability to work with all types of companies to sell a product, in addition to full integration, places it in a unique and superior position.
Krishna Srinivasan, Global President and Managing Partner, Frost & Sullivan summed up, "With increasing globalization comes increasing competition, and the companies that thrive are the ones that are a step ahead of their competition. Frost & Sullivan is pleased to recognize CYBERBIT for its innovative strategies in strengthening its brand and thereby, demand for its products, in the intensely competitive cyber intelligence and security market."
Each year, Frost & Sullivan presents this Award to the company that has leveraged competitive intelligence to successfully execute a competitive strategy that results in stronger market share, competitive brand positioning and customer satisfaction.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
CYBERBIT is a fully owned subsidiary of Elbit Systems Ltd. – Israel's largest defense company. Marking the intelligence and cyber domains as strategic growth engines – Elbit founded CYBERBIT to lead its activities in these domains and be the spearhead of intelligence and cyber solutions worldwide.
CYBERBIT's solutions span the full range of intelligence and cyber technologies and capabilities, allowing its customers to receive either local or end-to-end solutions to the challenges and needs of their organizations, leveraging the technology, knowledge and methodologies gained by years of experience with high-end customers around the world.
CYBERBIT provides comprehensive solutions and exclusive capabilities with worldwide large scale deployment experience.
The combination of field-proven technologies and over two decades of global experience, as well as the knowledge, expertise, wide customer base and state-of-the-art technology marks CYBERBIT as a true market leader, providing solutions that span the entire range of cyber security and intelligence capabilities, constituting a one-stop-shop for:
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
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