PALM BEACH, Florida, March 6, 2019 /PRNewswire/ -- Late last year, in September 2018, only about 5 months ago, a respected industry research firm Statista published a report that projected that by 2023, the worldwide cybersecurity revenues will reach $248.26 Billion Dollars. Another research report released in January of 2019 goes a step further and projects that revenues in 2024 will "Eclipse" $300 Billion Dollars. This new report says: "The global cybersecurity market is set to grow from its current market value of more than $120 billion to over $300 billion by 2024, according to a new research report by Global Market Insights. The cybersecurity market is propelled by the increasing need among enterprises to minimize security risks. As enterprises are rapidly embracing Cloud platforms and other networking technologies, they are becoming more vulnerable to various cyber-attacks. The average expenditure on cybercrime has increased significantly. In 2017, the average spending by organizations on cybersecurity solutions increased by over 23% accounting for over $11.7 million. Active tech companies in the markets this week include: Cyberfort Software, Inc. (OTCPK: CYBF), Xunlei Limited (NASDAQ: XNET), Symantec Corporation (NASDAQ: SYMC), FireEye, Inc. (NASDAQ: FEYE), CyberArk Software Ltd. (NASDAQ: CYBR).
This rise in budgetary allocations in cybersecurity solutions is driving the growth of the cybersecurity market. The rising penetration of various mobile and wireless devices is fostering the growth of the cybersecurity market. The falling prices of mobile devices and advancements in the connectivity infrastructure across the globe are propelling the adoption of smart devices across enterprises and consumers. This has caused a simultaneous increase in the number of cyber-attacks on mobile devices. The infrastructure protection market is also expected to grow at a significant pace over the projected frame due to the growing adoption of IoT devices and the increasing use of email and web-based applications.
Cyberfort Software, Inc. (OTCPK: CYBF) BREAKING NEWS: Cyberfort Software announced today that it signed a purchase agreement to acquire Just Content Software, a multi-platform ad-blocking and content filter app. The acquisition will assist the Company in developing new solutions to tackle cyber threats and attacks.
Consumers are becoming increasingly conscious of their need for data protection and informed of existing cyber security threats (www.deloitte.com/content). In order to aid both their security and peace of mind, Cyberfort Software is ambitiously developing robust solutions across multi-platforms to fortify the online security of both individuals and businesses.
Just Content is an efficacious and multi-functional ad blocking app currently available on iTunes and the iOS AppStore (https://itunes.apple.com/app/id1031003372). The app utilizes proprietary "Home Safe Filter" and "Business Filter" products to help safeguard families and businesses from unsafe links, adult content, phishing sites and inflammatory hate speech found on the Internet.
"As Cyberfort continues its journey to become a leader in developing cutting-edge ad-blocking protective software, our focus remains on providing Internet safety for families and business. This has been a growing concern in our highly technological and immediate information-access society. Acquiring Just Content furthers our commitment to provide the best and most effective ad-blocking software in the marketplace," explained Cyberfort Software CEO Daniel Cattlin.
Just Content will be added to Cyberfort's growing portfolio of data protection solutions which already includes, ad-blocking app Vivio. Per the purchase agreement, Cyberfort Software will tender shares of its stock for Just Content and provide the capital to further develop a Just Content App and a negotiated development budget through the calendar year of 2019.
"We, at Just Content, have been working with Cyberfort Software for quite some time now and are delighted to take our partnership to the next level. Just Content has provided the highest security content blocker apps since 2015 and we work tirelessly to constantly improve our app and technology. This partnership couldn't have come at a better time for the Just Content team, its users and everyone who values security and privacy" stated Just Content founder Krishna Kumar. Read this entire press release and more news for CYBF at: https://www.financialnewsmedia.com/news-cybf/
Other recent developments in the cybersecurity and tech industries:
Xunlei Limited (NASDAQ: XNET), a leading cloud-based acceleration technology company in China, announced recently that it plans to release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2018 on March 7, 2019 before the U.S. market opens. The earnings press release will be available on the Company's investor relations page. Also, Xunlei's management will host a conference call at 8:00 a.m. U.S. Eastern Time on March 7, 2019 (9:00 p.m. Beijing/Hong Kong Time), to discuss the Company's quarterly and fiscal year results and recent business developments.
Symantec Corporation (NASDAQ: SYMC) On February 27, the company, the world's leading cyber security company, announced that more than 120 companies have joined forces with Symantec to drive down the cost and complexity of cyber security, while improving response times to protect enterprises against sophisticated threats. This includes major players like AWS, Box, IBM Security, Microsoft, Oracle, ServiceNow and Splunk, as well as dozens of other technology innovators, who are now building or delivering more than 250 products and services that integrate with Symantec's Integrated Cyber Defense (ICD) Platform.
This unprecedented industry collaboration reflects a "platform shift" in the cyber security industry, as new research from Enterprise Strategy Group (ESG) shows enterprise customers are looking to consolidate vendors and adopt more integrated platforms backed by an open ecosystem.
FireEye, Inc. (NASDAQ: FEYE), an intelligence-led security company, this week announced that it has joined the Microsoft Intelligent Security Association (MISA) to help organizations defend against increasingly sophisticated cyber threats.
"Establishing effective cyber security protection has grown increasingly complex. Taking a community-centric approach is essential and FireEye believes strongly in joining forces to improve industry-wide cyber security initiatives," said Grady Summers, CTO at FireEye. "Microsoft Azure and Office 365 are key platforms for innovation, and we believe by working together and through community driven defenses, we can more effectively protect our clients and spur further innovation. As a cyber security pioneer on the frontlines, we are delighted to offer our intelligence-led solutions and partner with the Microsoft Intelligent Security Association."
CyberArk Software Ltd. (NASDAQ: CYBR) this week announced new additions to its executive management team with the appointments of Rich Wenning as vice president of North American sales and Clarence Hinton as senior vice president of corporate development.
"Rich and Clarence are tremendous additions to our executive team, each bringing deep industry experience with world-class organizations and strategic industry relationships. Rich will be instrumental in executing our regional sales initiatives, with Clarence leading future investment strategies," said Udi Mokady, chairman and CEO, CyberArk. "On the heels of a recording-breaking year, we are expanding our leadership team to execute on corporate goals and capitalize on growth opportunities."
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