As the Rate of Ransomware Attacks Climbs, Industry Leaders Race to Develop Next Level Anti-Ransomware Technologies

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Mar 17, 2022, 08:30 ET

PALM BEACH, Fla, March 17, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Ransomware is a predominant cyber threat that installs on the victim's computer either encrypting the files or locking the entire system, until a ransom is paid. The organizations have increased investments in securing the data, network, and endpoints from crypto-malwares such as ransomware and other advanced cyber threats. A report from Persistence Market Research said that Workplace digitization is growing at an explosive pace and this is particularly felt in the APAC region that can be considered the perfect example of a 'mobile first, cloud first' region. While this may well lead to greater ransomware attacks, it represents a limitless opportunity for widespread adoption of cloud based security solutions. Other regions are widely expected to follow APAC's example in the adoption of cloud based ransomware protection software. It continued: "Small and Medium size enterprises did not see cyber security as a priority in the past as it was considered an unnecessary additional expenditure. The recent ransomware attacks such as WannaCry and Peyta have necessitated a larger commitment to online security and small and medium enterprises have begun to invest in cloud based security. Most ransomware is delivered via unauthorized links or through email attachments. These ransomware attacks are easily able to bypass traditional security solutions such as firewalls or antivirus software that may be installed. That is why enterprises are increasingly seeking out non-traditional solutions to avoid ransomware attacks in the future." Active Companies from around the market with recent developments this week include: Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (OTCPK: ATDSD), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), SentinelOne, Inc. (NYSE: S), NortonLifeLock (NASDAQ: NLOK), Mandiant, Inc. (NASDAQ: MNDT).

Persistence Market Research added: "As these organizations move their entire or a part of their operations to the cloud, players actively involved in the ransomware protection market will also have to make the resultant shift. Startups have often come forward with innovative and out-of-the-box solutions as they are not tied down by legacy software and can seamlessly shift to emerging technologies such as cloud computing. A growing deployment of cloud based security solutions by both large enterprises and SMEs makes the cloud deployment type the most attractive segment in the global ransomware market, anticipated to increase 3.7x between 2017 and 2025. This segment will also register steady Y-o-Y growth rates throughout the forecast period and expand at a CAGR of 17.7% in terms of value."

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (OTCPK: ATDSD) BREAKING NEWS: Data443 to Participate in the 2022 Virtual Growth Conference Presented by Maxim Group LLC and hosted by M-Vest - Ransomware Recovery, Data Privacy, and Recent Customer Wins, Including Emirates NBD to be Discussed - Data443 Risk Mitigation ("Data443" or the "Company"), the leading data security and privacy software company for ALL THINGS DATA SECURITY™, is pleased to announce that Jason Remillard, Founder & CEO of Data443 has been invited to present at the 2022 Virtual Growth Conference, presented by Maxim Group LLC and hosted by M-Vest.

Coming off several successful marketing campaigns over the last three months in Entrepreneur Media, Fortune Magazine's Investors Edition in December 2021, and United Airlines' inflight magazine, Hemispheres (January/February inside cover) that covered Data443's ransomware protection and recovery platform, the Company continues to take the necessary steps in keeping a visible presence as data security grows in importance. Enterprises, from corporate to non-profit, regardless of industry and size, are growing to understand the risks involved in maintaining core data security protocols, proven in Data443's most recent customer win announced on March 14, 2022, with Emirate NBD Group.

Mr. Remillard will be covering the state of the industry concerning data security, data privacy, and the market opportunities for the company - in ransomware protection, as well as Data443's immediate product suite capabilities that are purpose-built for the challenges that are being faced today by nearly every segment of the worlds population – retail, business, personal and military. "Our portfolio continues to deliver incredible value and be remarkably nascent for the needs and risks of today," stated Founder and CEO Mr. Remillard. "Our Ransomware Recovery Manager is exactly on spec to what customers are dealing with on a daily basis. Our data discovery and remediation platform cover privacy and data risk on an exceptionally competitive basis. Our data movement capabilities continue to generate customer wins in the marketplace with organizations, as well as multiyear renewals that our competition dreams of having."

"The opportunity to present to the larger audience and investors at M-Vest with our extended team at Maxim Group is a great opportunity for the Company to share our story that continues to resound in the marketplace and with our customers. Additionally, it helps to walk through our growth story – from the inception of one single product to a large portfolio and a growing, stable ARR with a top-notch leading product, operations, and management team at the helm. We are excited and humbled by the opportunity!" concluded Mr. Remillard.

To attend the presentation: Sign up here to access the presentation. During this virtual conference, investors will hear from executives from a wide range of sectors including Biotech, Clean Energy, Electric Vehicles, Financial Services, Fintech & REITS, Gaming & Entertainment, Healthcare, Healthcare IT, Infrastructure, Shipping and Technology/ Media/Telecom. The conference will feature company presentations, fireside chats, roundtable discussions, and live Q&A with CEOs moderated by Maxim Research Analysts. CONTINUED… Read this full press release for ATDS at: https://www.financialnewsmedia.com/news-atds/

In the industry developments and happenings in the markets include:

CrowdStrike Holdings, Inc. (NASDAQ: CRWD), a global cybersecurity leader that provides cloud-delivered protection of endpoints, cloud workloads, identity and data, recently announced financial results for the fourth quarter and fiscal year 2022, ended January 31, 2022.

"CrowdStrike once again delivered an exceptional fourth quarter and capped off a record year, achieving new milestones across both the top and bottom line. Net new ARR of $217 million in the quarter was a new all-time high, driven by expansion of our leadership in the core endpoint market as well as a record quarter for cloud, identity protection and Humio. As our record results, growing scale and module adoption rates demonstrate, customers are increasingly leveraging the breadth and depth of the Falcon platform as they look to transform their security stack," said George Kurtz, CrowdStrike's co-founder and chief executive officer.

SentinelOne, Inc. (NYSE: S) recently announced financial results for the fourth quarter and fiscal year ended January 31, 2022. "We delivered ARR growth in the triple digits for a fourth consecutive quarter. Our extraordinary performance was driven by the strength of our XDR platform coupled with relentless focus on innovation and execution," said Tomer Weingarten, CEO of SentinelOne. "With our planned acquisition of Attivo Networks, we're excited to add leading identity threat detection and response to our Zero Trust capabilities."

"We once again delivered significant top line growth and margin improvement. Our fourth quarter ARR increased 123% year-over-year to $292 million, driven by strength from large enterprises, both new and existing," said Dave Bernhardt, CFO of SentinelOne. "We've paired phenomenal growth with double digit gross and operating margin expansion compared to last year, highlighting the efficiency and scalability of our model."

Norton, a leading consumer Cyber Safety brand from NortonLifeLock (NASDAQ: NLOK), recently announced the U.K. launch of Norton™ Identity Advisor Plus, which leverages the company's consumer identity protection expertise to help victims of identity theft resolve their issues.

In the latest Norton Cyber Safety Insights Report in the U.K., conducted online in partnership with The Harris Poll amongst 1,000 U.K. adults aged 18+, 55% of Brits surveyed admit they would have no idea what to do if their identity was stolen. Additionally, 60% of those surveyed admit to being "very worried" their identity will be stolen. Norton Identity Advisor Plus tries to address this concern, by helping consumers each step of the way should they discover they're a victim of identity theft.

"We discovered that in the UK, 55% of those surveyed admit they would have no idea what to do if their identity was stolen," said Leena Elias, Vice President of Product, NortonLifeLock. "Unfortunately, personal information accessed through nefarious tactics may result in identity theft – for example, a hack or data breach could lead to a loan being taken out in your name, and potentially impact your credit score and your life. Identity theft can be stressful and confusing, which is why we provide access to dedicated Identity Restoration Specialists, offering that all-important guidance to victims of identity theft. Alongside Cyber Safety solutions included with this new plan, consumers can have peace of mind that they are covered."

Mandiant, Inc. (NASDAQ: MNDT) recently announced that it has entered into a definitive agreement to be acquired by Google LLC for $23.00 per share in an all-cash transaction valued at approximately $5.4 billion, inclusive of Mandiant's net cash. The offer price represents a 57% premium to the undisturbed 10-day trailing volume weighted average price as of February 7, 2022, the last full trading day prior to published market speculation regarding a potential sale of the Company. Upon the close of the acquisition, Mandiant will join Google Cloud.

For the past 18 years, Mandiant has delivered unparalleled frontline expertise and industry-leading threat intelligence. Mandiant's more than 600 consultants currently respond to thousands of security breaches each year. Paired with research from more than 300 intelligence analysts, these resulting insights are what power Mandiant's dynamic cyber defense solutions – delivered through the managed multi-vendor XDR platform, Mandiant Advantage.

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