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Magal Awarded $8 Million Contract for Integrated Security Solutions for Critical Energy Infrastructure

Magal Security Systems, Ltd. (NASDAQ: MAGS) announced that it recently signed an $8 million contract to provide integrated security solutions for several critical energy infrastructure sites. Magal’s delivery and installation will take place over the coming months.  

Saar Koursh, CEO of Magal, commented: "We are proud to have been selected by this important national operator to protect these critical energy infrastructure sites. It reconfirms the value that our customers find in Magal's unique offering. The order includes our video management system with video analytics, as well as our FiberPatrol, a fiber-optic point reporting intrusion detection system. It also includes our cyber security solution, all integrated to and managed by our cutting-edge Fortis4G physical security information management system (PSIM). Our proven engineering and integration capabilities, combined with our broad portfolio of home-grown security solutions enables us to win these tightly scheduled and technically challenging projects. We look forward to receiving further orders such as this in the future."


ABOUT MAGAL
Magal is a leading international provider of solutions and products for physical and video security solutions, as well as site management. Over the past 45 years, Magal has delivered its products as well as tailor-made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries - under some of the most challenging conditions.
Magal offers comprehensive integrated solutions for critical sites, managed by Fortis4G – our 4th generation, cutting-edge Physical Security Information Management System (PSIM). The solutions leverage our broad portfolio of home-grown PIDS (Perimeter Intrusion Detection Systems), Symphony – our advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions.
Forward Looking Statements
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in Magal's reports filed from time to time with the Securities and Exchange Commission, including its Annual Report on Form 20-F and Current Reports on Form 6-K.

Global Military Radar Systems Market Worth USD 14.46 Billion by 2024: Hexa Research

The global military radar systems market to reach USD 14.46 billion by 2024, driven by the rising need for improving safety and security on the borders and rising conflicts among neighboring nations. North America was the largest regional market commanding the highest revenue share in 2016 and is expected to maintain its dominance over the forecast period.

The region is home to many active vendors such as Raytheon Company and Northrop Grumman Corporation in the defense market at large. Rise in investment activities, especially in developing countries such as China and India to strengthen their armies is expected to boost the military radars systems market over the forecast period.
The ground-based radar platform dominated the market owing to its uses and applications in surveillance and weapon guidance. The segment is expected to continue to dominate the market over the forecast period as well. Airborne radars are widely used for guiding missiles and for tracing accurate and precise targets. Naval radars are expected to follow a similar growth trajectory with an expected increase in demand over the forecast period.
Growing safety and security concerns with the nations along with rising investments and defense budgets are expected to spur growth in military radar systems market. Technological advancements in the military radar systems industry are leading to the growth and development of lightweight military radars which is projected to add to the growth of the market over the forecast period.

Browse full research report with TOC on "Military Radar Systems Market Size and Forecast, By Platform (Ground-Based, Naval, Airborne, Space-based), By Application (Weapon guidance, Surveillance), And Segment Forecasts, 2014 - 2024" at: https://www.hexaresearch.com/research-report/military-radar-systems-market
The military radar systems market is estimated to witness growth in demand owing to the escalation in terrorist activities, border intrusions, and inter-country conflicts. Military radars are used for accurate and precise detection, surveillance, tracking, warning, and ground mapping of weapons and aircraft in the war zone.
While the market for military radar systems is expected to grow over the forecast period, it remains susceptible to the prevailing economic situations. The result of economic slowdown has affected military spending in many countries, hindering the growth opportunities for defense market at large.
European countries, such as Germany, UK, and Russia have observed cut down in defense expenditure owing to the financial crises and macroeconomic conditions. Furthermore, the development of space-based radars involves considerable expenditure on R&D activities, engineering, and production.

Browse reports of similar category by Hexa Research:
    •    Commercial Telematics Market - Global Commercial telematics market size was estimated to be worth USD 17.54 billion in 2016. Technological advancements such as real-time engine diagnostics, GPS tracking, fatigue alert, and drive lane assist are expected to boost the market.
    •    Mobile Satellite Services Market - Global mobile satellite services market size is expected to reach USD 5.53 billion by 2024. The growing demand for communication devices which provide services such as sending and receiving data from any remote location is the key factor that has been driving the market.
    •    Home Automation Market - Global home automation market size was USD 17.48 billion in 2016 and is expected to grow over the forecast period. The market is being primarily driven by increasing awareness for less energy consumption, the rise in electricity prices, and advancement in technology.
    •    Software Defined Data Center (SDDC) Market - Global software defined data center market size was valued at USD 26.33 billion in 2016 and is expected to grow owing to its benefits such as advances in networking capability, reduction in storage cost, virtualization and high flexibility.


Hexa Research has segmented the global military radar systems market based on platform, application and region:

Segmentation by platform, 2014 - 2024 (USD Billion)

• Ground-Based
• Naval
• Airborne
• Space-based

Segmentation by application, 2014 - 2024 (USD Billion)

• Weapon guidance system
• Surveillance

Segmentation by region, 2014 - 2024 (USD Billion)

• North America
    • U.S.
• Asia Pacific
    • China
    • India
• Europe
    • France
    • UK

Key players analyzed

• Lockheed Martin Corporation
• Boeing
• Northrop Grumman Corporation
• Raytheon Company
• Saab Sensis Corporation
• BAE System PLC
• Airbus Group
• General Dynamics Corporation
• Leonardo DRS
• Harris Corporation

About Hexa Research
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Salient CRGT Expands Mobility Product Offering to Provide Law Enforcement Quick Access to Investigative Data

FAIRFAX, Va., Nov. 21, 2017 -- Whether it's a state trooper needing an immediate background check on a motorist or an investigator requiring timely criminal evidence for a case, law enforcement officials demand instant access to crucial investigative information. Recognizing this challenge to rise to higher level of performance, Salient CRGT, Inc., a leading provider of technology consulting services has partnered with Kaseware, the leader in investigative case management solutions, to integrate Salient CRGT's Voyager™ Query for Law Enforcement within the Kaseware investigative case management system to make it easier for law enforcement agencies to obtain criminal justice data.
Kaseware investigative case management system combines incident and case management, dispatching, evidence management, and analytics in a single, integrated system. Salient CRGT's Voyager Query's proven, cloud-based CJIS integration platform, paired with Kaseware's integrated system eliminates the need to maintain multiple software products or reinvent connecting to legacy systems and databases. As a result, this strategic partnership enables agencies to cost effectively support information sharing, comprehensive investigations, and crime reduction programs.
"Data sharing in law enforcement is a powerful tool used to not only protect the lives of law enforcement officers, but also enhance public safety and neutralize criminal activity. Partnering with Kaseware further expands Voyager Query's commercial reach and enhance the delivery of critical information to the hands of first responders," said Dr. Larry Rose, SVP of Commercial Services at Salient CRGT.
Salient CRGT currently serves more than 250 law enforcement communities encompassing over 2,100 users using Voyager Query for Law Enforcement. Voyager Query's infrastructure allows authorized agencies to access critical Criminal Justice Information Services (CJIS) compliant data over any wireless network and the ability to message between multiple users and agencies provides a new level of information sharing capability. Kaseware is offered as a CJIS compliant SaaS or on premises integrated suite of capabilities that's easy to use and full featured.
"Kaseware was developed by the same team that built the FBI's current global investigations and case management system. We understand the critical impact of relevant and timely law enforcement data to any investigation," said Chad Fulgham, Co-Founder and CEO of Kaseware and former FBI CIO. "Kaseware's offering of Salient CRGT's National Crime Information Center searching at no extra cost for all Kaseware law enforcement officials customers is yet another example of how Kaseware is committed to supporting our law enforcement professionals."
About Salient CRGT
Salient CRGT provides federal civilian, defense, homeland, and intelligence agencies, as well as Fortune 1000 companies, with expertise and leadership in health, data analytics, cloud, agile software development, mobility, cyber security, and infrastructure solutions. We support these core capabilities with full life‐cycle IT services and training—to help our customers meet critical goals for pivotal missions. The most innovative talent delivery model in the industry, scientifically providing exactly the right people for the customers' most pressing requirements, fuels these critical capabilities. Salient CRGT has earned a record of success with integration and operations of large‐scale, high‐volume solutions. On March 1, 2017, Salient CRGT completed its acquisition of Information Innovators, Inc. – visit newsroom and explore www.salientcrgt.com.
About Kaseware
Kaseware is a tech startup that empowers agencies of any size with advanced investigative and case management technology to deliver incident and case management, investigations, analytics, and information sharing solutions to law enforcement, intelligence, government, and corporate security organizations. Its solution is offered as Software-as-a-Service (SaaS) or On-Premises Enterprise and always supports modern browsers and major mobile platforms
Tweet: [email protected]_CRGT expands mobility product offering to provide law enforcement quick access to investigative data http://bit.ly/1MGSz5l
SOURCE Salient CRGT

Raytheon's ground system, space sensor critical to NOAA's newest polar satellite's mission

VANDENBERG AIR FORCE BASE, Calif., Nov. 18, 2017 -- Today, NASA launched NOAA's next-generation polar satellite, the Joint Polar Satellite System-1, into space. Two Raytheon (NYSE:  RTN) weather programs are mission-critical components of the satellite's mission: the JPSS Common Ground System and the Visible Infrared Imaging Radiometer Suite sensor.

JPSS CGS, a global system of ground antennas and high-performance computers, provides the mission planning and command and control once in space. Recently upgraded, the JPSS CGS 2.0 delivers observations to NOAA's National Weather Service almost 50 percent faster than before.

"Every day, thousands of decisions depend on accurate weather forecasting and environmental monitoring," said Matt Gilligan, vice president of Raytheon's Navigation and Environmental Solutions. "Our latest generation Common Ground System has been fully operational since August, and it's ready to support the new JPSS-1's mission as part of the growing polar satellite constellation."

Once in space, Raytheon's VIIRS sensor, one of six on the JPSS-1 satellite, will collect imagery in 22 bands of light—from visible to infrared—allowing scientists to observe emerging weather and climate patterns in unprecedented detail. The sensor's low light imaging day-night band provides invaluable imagery, supporting mission area domain awareness and disaster monitoring and management.

"From 500 miles up in space, VIIRS is changing the way we see Earth," said Robert Curbeam, director of Civil Space programs for Raytheon's Space and Airborne Systems business. "Its value goes well beyond weather forecasting."

The JPSS-1 satellite joins its predecessor, Suomi National Polar-orbiting Partnership satellite, in circling the Earth pole-to-pole 14 times a day, providing full global coverage and contributing data into the U.S. weather forecast models. Those models are the basis for three- to seven-day forecasts that save lives, protect property and decrease the negative impact of severe weather.

Beyond forecasting, VIIRS captures and JPSS CGS processes and distributes measurements of atmospheric temperature and moisture, which are critical to volcanic ash, wildfire, and drought monitoring.

Raytheon works in partnership with NOAA to create a more 'Weather-Ready Nation.' Click here to learn more about our Weather-Ready Nation Training Modules.

About Raytheon

Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter.

www.raytheon.com

Raytheon Company
Information and Intelligence Systems
Aurora, Colo.

PRISMA Telecom Testing Exhibits at Milipol Paris 2017 Showcasing EmergencyNET, a Compact Portable Private Mobile Network

PRISMA Telecom Testing, a leading supplier of innovative solutions for the wireless industry, will present the latest developments of its EmergencyNET systems at Milipol Paris 2017, the leading event for homeland security, held on 21-24 November.


A compact plug-and-play portable system offering a complete private mobile network, EmergencyNET can provide reliable connectivity in case of major network breakdowns, enabling swift re-establishment of communications following disaster events.

Thanks to its extremely easy and quick setup, EmergencyNET enables rescuers to connect to any mobile device present in the emergency network area without delay, while victims can communicate their needs and position using standard devices.

A standalone private mobile network (no satellite connection is needed to operate), military certified from a mechanical point of view, EmergencyNET offers incomparable flexibility both in the scope of applications supported (ranging from railway emergency management to maritime operations and in general for critical infrastructure protection) and in terms of sheer scalability (such as number of users, number of calls, data throughput).

EmergencyNET, in its most compact backpack version, offers a complete mobile network for a single technology (GSM/GSM-R, UMTS or LTE). The extended EmergencyNET trolley version supports three different access technologies (GSM/GSM-R, UMTS, LTE) also running in parallel, thus operating as a multiple technology network provider.

PRISMA will exhibit at booth 6J123.

About PRISMA Telecom Testing

PRISMA Telecom Testing is a leading supplier of innovative and flexible performance testing solutions for mobile networks verification. PRISMA's test solutions for 2G/3G/4G/5G mobile networks, both over the wired and the radio interfaces, draw on over 30 years of experience in telecommunications engineering. The largest wireless Network Equipment Manufacturers and Service Providers worldwide rely on PRISMA for complete Radio Access Network testing.
A privately owned company, PRISMA Telecom Testing (formerly PRISMA Engineering) is headquartered in Milan, Italy, with its own offices in France, China, Sweden, the USA and Finland and partners across Europe, Asia and the Americas.

For more information about PRISMA and EmergencyNET: http://www.prismatelecomtesting.com

SOURCE PRISMA Telecom Testing

xG Technology's IMT Vislink Business Awarded $12.5 Million US Army Contract for Hand-Held Intelligence, Surveillance and Reconnaissance Receiver Devices

SARASOTA, Fla., Nov. 20, 2017 -- xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, announced today that its IMT Vislink business has been awarded a $12.5 million contract by the U.S Army with an estimated completion date of Sept. 24, 2020 for the supply of hand-held intelligence, surveillance and reconnaissance receiver devices. This represents the third contract received from the Army since 2013 for this same requirement.

Equipment covered by the contract includes ruggedized, lightweight hand-held receivers designed to display real-time video imagery transmitted by aerial assets or frontline surveillance platforms, as well as related accessories.

George Schmitt, Executive Chairman and CEO of xG Technology, said, "We are honored to have been chosen by the U.S. Army to fulfill this important contract. It is a huge game changer that underscores our proven expertise in designing and delivering best-in-class wireless video communications solutions that enhance tactical insights. We will work closely with the Army to ensure they gain maximum effectiveness of our equipment in conducting their operations. We look forward to commencing product deliveries, and have already manufactured 50 units that are ready to ship as needed to our forces overseas."

Mr. Schmitt continued, "Beyond just the value of the contract to us, we are proud to have our technology support our fighting men and women overseas and look forward to supporting our troops in any way we can. This is hopefully the first of many contracts we will be successful in obtaining in the future."

IMT and Vislink have decades-long experience providing secure wireless video communications and mission-critical solutions for law enforcement, defense and homeland security applications around the world. With thousands of digital microwave radio systems deployed, they are the de facto standard in high performance, rapidly deployable systems that meet the most stringent requirements.

About xG Technology, Inc.

xG Technology's brands provide wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for use in challenging environments. xG's brand portfolio includes Integrated Microwave Technologies (IMT), Vislink, and xMax.

IMT has pioneered advanced digital microwave systems and is a trusted supplier to broadcast, sports and entertainment, and MAG (Military, Aerospace & Government) markets. Their products are recognized for high levels of performance, reliability, build quality, extended operating ranges and compact form factors. More information about IMT can be found at www.imt-solutions.com. Vislink specializes in the wireless capture, delivery and management of secure, high-quality, live video, and serves broadcast & media and public safety & surveillance markets. More information about Vislink can be found at http://www.vislink.com/.

xMax is a secure, rapid-deploy mobile broadband system that delivers mission-assured wireless connectivity in demanding operating environments. It was designed to serve as an expeditionary and critical communications network for use in unpredictable scenarios and during fluid situations, making it ideal for disaster response, emergency communications, and defense applications. More information about xMax can be found at http://www.xgtechnology.com/system-overview/. In addition to the above business lines, xG has a dedicated Federal Sector Group (xG Federal) focused on providing next-generation spectrum sharing solutions to national defense, scientific research and other federal organizations. Additional information about xG Federal can be found at http://www.xgtechnology.com/technology/xg-federal/.

Based in Sarasota, Florida, xG Technology has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market (symbol: XGTI) For more information, please visit www.xgtechnology.com.

Cautionary Statement Regarding Forward Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

FOR MORE INFORMATION

xG Technology:
Daniel Carpini
941-953-9035
[email protected]

SOURCE xG Technology, Inc.

Raytheon to provide advanced telemetry system for Navy's new Range Support Aircraft

ALBUQUERQUE, N.M., Nov. 15, 2017 -- The U.S. Navy awarded Raytheon Company (NYSE: RTN) a $79 million contract to develop a new advanced telemetry system for the U.S. Navy's Range Support Aircraft. The high-tech plane will replace the Navy's aging telemetry test aircraft, which has been in service since the 1970s.

Based within the Gulfstream G550 airborne early warning airframe, Raytheon's modern solution will offer multi-role capabilities in telemetry data collection, range safety and surveillance, and communications relay.

"It's like replacing your old eight-track tapes with streaming digital music – there's simply no comparison," said Todd Callahan, Raytheon Naval and Area Mission Defense vice president. "Our new Range Support Aircraft will use the latest technology to support advanced weapons testing and other missions for the next 25 years."

To develop and deliver this new capability to the Navy, Raytheon will draw on its wide portfolio of products, proven technology and extensive test and evaluation expertise.  Once operational, the Range Support Aircraft will collect and process telemetry data from missiles, aircraft, UAVs and ships.

Raytheon will perform system design, fabrication and aircraft integration. Once integration is complete, the company will conduct flight testing, training and mission operations with the Navy team before delivering the much-needed range support asset.

About Raytheon
Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I™ products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter.

www.raytheon.com

Lockheed Martin Achieves Long Range Discrimination Radar Critical Design Review On-Schedule

MOORESTOWN, N.J., Nov. 16, 2017 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) completed a rigorous Critical Design Review (CDR) on Sept. 28 with the Missile Defense Agency (MDA) for the Long Range Discrimination Radar (LRDR), demonstrating compliance to all technical performance measures and requirements. The radar system will support a layered ballistic missile defense strategy to protect the U.S. homeland from ballistic missile attacks.
The MDA awarded the $784 million contract to Lockheed Martin in 2015 to develop, build and test LRDR, and the company is on track on an aggressive schedule to deliver the radar to Clear, Alaska in 2020. Teams from Lockheed Martin, MDA Sensors Directorate and the Command and Control, Battle Management, and Communications or C2BMC have worked interfaces closely to ensure seamless integration.
Successfully executing CDR validates that the LRDR system is ready to proceed into fabrication, demonstration, and test and that the hardware and software component have achieved Technology Readiness Level (TRL) 7 and Manufacturing Readiness Level 7.    
With the completion of CDR, the program now begins the start of low rate manufacturing which began in October. In preparation for full rate manufacturing starting in mid-2018, Lockheed Martin will be utilizing production hardware in combination with prototype systems, tactical back-end processing equipment as well as tactical software to demonstrate system performance in an operational environment to achieve system TRL 7.  Lockheed Martin will be performing a series of tests in the Solid State Radar Integration Site (SSRIS) including a closed loop satellite track test.
"We remain committed to support the MDA's Ballistic Missile Defense and Homeland Defense Missions," said Chandra Marshall, LRDR program director, Lockheed Martin. "I am extremely proud of the team for their dedication and commitment to the successful execution of the LRDR program.  This team has achieved every milestone, including this CDR, on schedule since contract award in 2015."
Marshall continued, "I am extremely pleased with the progress the entire LRDR team has made in the two years since contract award. With the success of CDR, LRDR is on track for initial operating capability or IOC in 2020."
In addition to CDR, Lockheed Martin conducted a Facilities Design Review in October for the LRDR equipment shelter design.  Lockheed Martin will run a full and open competition for the construction of the equipment shelter in Clear, Alaska and will begin construction of the shelter in the first half of 2019.  The MDA team is preparing the site for Radar System Installation and checkout mobilization, constructing the Mission Control Facility and starting the foundation for the LRDR equipment shelter.
Similar to Lockheed Martin's Space Fence radar system, LRDR is a high-powered S-Band radar incorporating solid-state gallium nitride (GaN) components. LRDR adds the capability of discriminating threats at extreme distances using the inherent wideband capability of the hardware coupled with advanced software algorithms.
LRDR is a strategic national asset of the MDA's Ballistic Missile Defense System and will provide 24/7/365 acquisition, tracking and discrimination data to enable defense systems to lock on and engage ballistic missile threats, a capability that stems from Lockheed Martin's decades of experience in creating ballistic missile defense systems for the U.S. and allied governments.
Lockheed Martin is well positioned to provide low risk, scalable radar solutions that address critical homeland defense needs; providing a persistent capability to keep pace with evolving threats, delivering unmatched discrimination capability in the Pacific architecture, and increasing the defensive capability of Ground Based Interceptors.
Work on LRDR is primarily performed in New Jersey, Alaska, Alabama, Florida and New York.
As a proven world leader in systems integration and development of air and missile defense systems and technologies, Lockheed Martin delivers high-quality missile defense solutions that protect citizens, critical assets and deployed forces from current and future threats. The company's experience spans radar and signal processing, missile design and production, hit-to-kill capabilities, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as threat-representative targets for missile defense tests.
For more information, visit www.lockheedmartin.com/lrdr.

About Lockheed Martin
SOURCE Lockheed Martin
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http://www.lockheedmartin.com

Global ransomware damage costs predicted to exceed $11.5 billion annually by 2019:Ransomware will attack a business every 14 seconds by end of 2019

MENLO PARK, Calif., Nov. 15, 2017 -- Ransomware — a malware that infects computers (and mobile devices) and restricts their access to files, often threatening permanent data destruction unless a ransom is paid — has reached epidemic proportions globally.

The impact on businesses is reflected in the Official 2017 Ransomware Report, announced today by Cybersecurity Ventures.

 

Global ransomware damage costs are predicted to exceed $11.5 billion annually by 2019, up from $5 billion in 2017.

Cybersecurity Ventures predicts there will be a ransomware attack on businesses every 14 seconds by the end of 2019. This does not include attacks on individuals, which occurs even more frequently than businesses.

"Since September 2013 when CryptoLocker, the first weapons-grade ransomware strain appeared, this type of malware has metastasized into a multi-billion dollar criminal business model that is only in its early phases and will continue to increase in sophistication," says Stu Sjouwerman, founder and CEO at KnowBe4, a company that specializes in training employees on how to detect and respond to ransomware attacks.

The big myth around ransomware damages is the costs are limited to ransom payouts. However, the percentage of businesses and individuals who are paying bitcoin to reclaim access to their data and systems in response to ransom demands — is declining (even if the total payout figures are rising due to the sheer volume of new attacks).

"Ransomware costs include damage and destruction (or loss) of data, downtime, lost productivity, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hostage data and systems, reputational harm, and employee training in direct response to the ransomware attacks," says Steve Morgan, founder and Editor-In-Chief at Cybersecurity Ventures.

CIOs, CISOs (Chief Information Security Officers), and IT security teams need to heighten their awareness and response plans around the ransomware threat. Cyber defense needs to cross boundaries so that every IT worker understands exactly what ransomware is, how it infects organizations, and how to combat it.

Cybersecurity Ventures predicts cybercrime will cost the world in excess of $6 trillion annually by 2021, up from $3 trillion in 2015. Ransomware is expected to worsen and make up a proportionately larger share of total cybercrime by 2021.

The Official 2017 Ransomware Report is sponsored by KnowBe4, a world-class integrated Security Awareness Training and Simulated Phishing platform.

About

Cybersecurity Ventures is the world's leading researcher and publisher covering the global cyber economy, and a trusted source for cybersecurity facts, figures, and statistics.

SOURCE Cybersecurity Ventures

Related Links

https://www.cybersecurityventures.com

 

SOURCE Cybersecurity Ventures

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https://cybersecurityventures.com/

enSilo Included in 2017 Gartner Market Guide for Endpoint Detection and Response Solutions

enSilo, the company that protects endpoints pre- and post-infection to stop data breaches and data disruption in real time, today announced that it has been included in Gartner's Market Guide for Endpoint Detection and Response Solutions (G00321729). A complimentary copy of this Market Guide is available for download here.

According to Gartner, "The EDR market is rapidly converging with the endpoint protection platform market; however, both areas will continue to coexist for the next three years. Security and risk management leaders need platform-based solutions that provide all aspects of adaptive security architecture."

With costly, high-profile data breaches, ransomware disruptions and other attacks increasingly beginning at the endpoint, capabilities for safeguarding organizations' devices and empowering users are essential, including detecting sophisticated attacks, containing the reach of threats by defeating the execution of malware and other intrusions and rapidly remediating endpoints to a pre-infected state. enSilo delivers these features and other advantages in its proven endpoint security platform combining automated, blocking-enabled Endpoint Detection and Response (EDR) capabilities with Threat Hunting, Incident Response, and Virtual Patching features. This integrated approach to protecting devices and employees offers dramatic security advantages and avoids burdening end users and security staff with layered, piecemeal endpoint protection tools.

"We feel that Gartner's inclusion of enSilo in this Market Guide validates our team's vision and innovation," said enSilo CEO and co-founder Roy Katmor. "Malicious infiltrations prevail against traditional defenses by exploiting detection gaps and achieving costly dwell time before they uncovered. enSilo's Next Generation AntiVirus (NGAV) serves as a useful first line of defense, complemented and correlated with our unique blocking-enabled EDR that allows to contain in real-time malicious code and behaviors executing on systems and continually helps security teams revert devices back to known, trusted states. This elimination of dwell time between infiltration and detection is key, it's time for the industry to prioritize protection in EDR. 'Detection' and 'Response' offer little value if they are not real-time and automated."

"Stopping breaches is my number one priority and I am a big proponent for endpoint detection and response tools to help with that goal. When we thoroughly tested and evaluated top notable vendors in the market, enSilo stood out above all the rest," said Randy Potts, CISO at financial services firm Real Time Resolutions. "enSilo has a fundamentally different approach to stopping the post-infection impact of malware in an automated manner. This unique capability allows my team to stop breaches and respond to malware impact immediately and more effectively comparing to other EDR tools that introduce dwell time."

According to Gartner, "Endpoint detection and response is essentially a big data and analytics tool that has all the advantages and drawbacks of this emerging field. However, it's foundational for next-generation endpoint protection solutions, based on more-complex behaviors, and it's extensible to additional problems, such as insider threat and account takeover attacks. EDR tools are capable of reducing the time to detect and respond to hacking and malware incidents. They help correlate events into incidents, but require a sophisticated administrator and API integration with other security tools."

"enSilo strives to offer a robust post-infection approach to endpoint security that enables real-time breach containment and response, allowing zero dwell time and the immediate blocking of data exfiltration and data tampering," Katmor added. "Providing EDR tools is important, however in addition to post-infection evidence collection, the breach must be stopped in real-time, ensuring zero dwell time. It's all about stopping the breach."

Read more about Gartner's latest endpoint detection and response recommendations on enSilo's blog  and download your complimentary copy of the Market Guide for Endpoint Detection and Response Solutions here.

Source: Gartner, "Market Guide for Endpoint Detection and Response Solutions," Peter Firstbrook, 9 November 2017.

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About enSilo
enSilo comprehensively secures the endpoint pre- and post-infection. enSilo automates and orchestrates detection, prevention and real-time response against advanced malware and ransomware without burdening cybersecurity staff. enSilo's single lightweight agent includes next generation antivirus (NGAV), application communication control, automated endpoint detection and response (EDR) with real-time blocking, threat hunting, incident response and virtual patching capabilities. Coupled with a patented approach that has full system visibility, enSilo's endpoint security solution stops modern malware with a high degree of precision and intuitive user interface. Cybersecurity staff with enSilo can effectively manage malware threats without alert fatigue, excessive dwell time or breach anxiety. enSilo's cloud management platform is flexible and extensible to meet operational needs that stop malware impact. For more information please visit www.ensilo.com.

 

SOURCE enSilo

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HID Global is opening the door to a new era of security and convenience.  Powered by Seos technology, the HID Mobile Access solution delivers a more secure and convenient way to open doors and gates, access networks and services, and make cashless payments using phones and other mobile devices. ...
Mobile device forensics can make a difference in many investigations, but you need training that teaches you how to get the most out of your mobile forensics hardware and software, and certifies you to testify in court. Read this white paper to learn how to evaluate mobile forensics training...
PureTech Systems is a software company that develops and markets PureActiv, its geospatial analytics solution designed to protect critical perimeters and infrastructure.  Its patented video analytics leverage thermal cameras, radars and other perimeter sensors to detect, geo-locate, classify, and...
PureTech Systems is a technology leader in the use of geospatial video, focusing on perimeter security.  When combining geospatial capabilities with video analytics and PTZ camera control, managers of critical facilities can benefit by allowing the video management system to aid them in the process...