Safe-T® Announces Acquisition of CyKick Labs' Intellectual Property and Marks
Company Bolsters Cybersecurity Offering with User and Web based Anomaly Detection Technology
HERZLIYA, Israel, July 10, 2018 /PRNewswire/ -- Safe-T® (TASE: SAFE) (OTCQB: SFTTY), a leading provider of software-defined access solutions for the hybrid cloud, today announced that it has completed the acquisition of intellectual property and marks of CyKick Labs, Ltd.'s ; most notably, its proprietary technology, Telepath. Safe-T will integrate Telepath into its Software Defined Access (SDA) solution to give users insights into user and web based behavioral anomalies within their networks.
Telepath empowers cyber security teams with early access to actionable intelligence on emerging threats and comprehensive forensics capabilities, as well as insights into sophisticated attacks. It detects anomalies to stop fraudulent activities by understanding the normal behavior of site visitors and inspecting enterprise web application transactions non-intrusively. Telepath employs a hybrid approach based on rules and machine learning to identify suspicious activities.
Approximately US $3M has been invested in the development of the acquired intellectual property. In addition, several active clients of CyKick Labs in the government and banking sectors in Israel are also Safe-T customers.
"At Safe-T, we are constantly looking for ways to enhance our solutions, and we pride ourselves on our innovation," said CEO Shachar Daniel. "User and web-based anomaly detection is a critical component of a truly secure data access and exchange system. By integrating Telepath's machine learning capabilities with our Software-Defined Access platform, we are enabling organizations to take a 360-degree approach to data security."
Safe-T released the latest version of its SDA solution in the fall of 2017, upgrading it to include software defined perimeter (SDP) capabilities to enable more comprehensive security. The SDA platform is built on the company's patented reverse-access technology, which minimizes attack vectors by significantly changing the way network segments communicate, leaving zero firewall holes opened to unwanted entries. Safe-T's technology surpasses current data access and usage strategies by unifying and streamlining access systems while consolidating data exchange and connectivity.
Once integrated into the SDA platform, Safe-T's solution will be enhanced with capabilities to detect a multitude of different anomalies that could indicate malicious activity. Some of these include changes in access and the sharing of files (for example, uploading multiple files to OneDrive in one day after six months of not doing so), anomalies in the user of web-based applications and services, abnormalities in the use of secure emails, and more. These detection techniques will allow companies to take a proactive approach to eliminating threats to their critical data. The Company intends to exploit the acquired intellectual property to evaluate penetration into the Web Behavior Analytics market, as well as the User Behavior Analytics market which is estimated by MarketandMarkets Inc. at $131 million in 2016[1]
ABOUT SAFE-T
Safe-T® (www.safe-t.com), a wholly owned subsidiary of Safe-T Group Ltd. (TASE: SAFE), is a leading provider of software-defined access solutions which mitigate attacks on enterprises' business-critical services and sensitive data. Safe-T solves the data access challenge by masking data at the perimeter, keeping information assets safe and limiting access only to authorized and intended entities in hybrid cloud environments. Safe-T enhances operational productivity, efficiency, security, and compliance by protecting organizations from data exfiltration, leakage, malware, ransomware, and fraud. With Safe-T's patented, multi-layer software-defined access, financial services, healthcare, utility companies and governments can secure their data, services, and networks from internal and external data threats.
[1] See here for further details: https://www.marketsandmarkets.com/PressReleases/user-entity-behavior-analytics.asp
PRESS CONTACT
Fehmida Bholat
Fusion PR on behalf of Safe-T
[email protected]
+1(646)452-7112
SOURCE Safe-T
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