- Data443 recently announced the acquisition of certain assets from Israeli-based cyber-security firm, Cyren Ltd., previously a company listed on the Nasdaq stock exchange
- The deal will see Data443 acquire capabilities within three significant revenue segments: threat intelligence, URL categorization, and email security
- The acquisition marks a major milestone, providing Data443 with direct access to customers with previously contracted revenues of approximately $15 million with upside potential
- The acquisition follows Data443’s First Quarter 2023 results, which saw dramatic increases in revenues (+125% YoY) and gross margins (over a third to 85%), driving a remarkable 184% YoY surge in gross profit
Data443 Risk Mitigation (OTC: ATDS), a data security and privacy software company, provides organizations of all sizes with the necessary software and services required to secure their data across devices and databases. Today, with over 10,000 customers across over 100 countries, Data443 enables its client base to prioritize risk, identify security gaps, and implement effective data protection and privacy management strategies through the provision of a broad and comprehensive product suite.
Data443 recently announced that it was taking the next step in its corporate journey, acquiring select assets from Israeli cloud-based, internet security technology company, Cyren Ltd. (https://ibn.fm/jVw7B). The acquisition will broaden Data443’s data security and protection capabilities and further complement the company’s award-winning ransomware protection and recovery capabilities – helping propel Data443 to a competitive advantage within a rapidly expanding marketplace, boasting the likes of Crowdstrike, Google/Madiant, SentinelOne, Cisco and Microsoft. The transaction, which is expected to close in the third quarter of 2023, will enable Data443 to enhance its existing product portfolio and accelerate the development of next-generation solutions.
Jason Remillard, Data443’s CEO and founder commented on the exciting news, stating, “Cyren has been a leader in emerging and high-volume risk mitigation for some of the world’s largest name brand organizations we all use today. This business has a tremendous track record, providing fast-breaking threat detection services and threat intelligence to major firewall vendors, email providers and leading cybersecurity vendors, as well as other industries such as a gaming console manufacturer and the world’s largest shopping and e-commerce providers. Our goal is to expand beyond the OEM market into the larger enterprise market. The threat intelligence market is a massive opportunity, an $18 billion-plus market growing at a 20.3% CAGR.”
The deal, which will result in Data443 onboarding customers representing over $15 million in unaudited FY2022 revenue, will mark yet another milestone within Data443’s ongoing financial achievements. The company recently published impressive financial results for the first quarter of 2023, which included revenue growth of 125 percent year-over-year to $1,380,000, achieving gross margins of a stunning 85% – resulting in a remarkable 184 percent gross profit increase relative to the first quarter 2022 (https://ibn.fm/sENk8). Commenting on these results, Remillard said,” These impressive results are a testament to our team’s relentless drive, passion, and commitment to better serving our existing enterprise clients and expanding our market reach. Achieving 125% revenue growth from a year ago clearly indicates that our efforts are resonating with our clients and the trust they place in us.”
The addition of new products within Data443’s product offering has led to increased customer loyalty and retention rates; in addition to achieving a near unheard of 98 percent rate of customer renewals over the past year, the company recently announced several new contract renewals, including securing additional contracts from one of their largest fintech clients as well as from one of the ‘big four’ U.S.-based banks – further expanding the company’s revenue pipeline in years ahead. Remillard added that “Our high customer renewal rates and their eagerness to renew with larger and longer-term contracts has always been the ultimate vote of confidence in our company. We are proud of the relationships we have built with our customers and will continue to nurture these partnerships in the years to come.”
Data443 Risk Mitigation, Inc. (ATDS) Investor Relations
Matthew Abenante
ir@data443.com
919-858-6542
For more information, visit the company’s website at www.Data443.com.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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