FirstWave Cloud Technology Limited (ASX:FCT) (FirstWave), the Australian global cybersecurity technology company, is pleased to announce a landmark agreement with leading European cybersecurity company and Level 1 Partner SHELT Global Ltd (SHELT).
As part of the agreement, FirstWave and SHELT have co-developed and integrated automated advanced detection and response (ADR) technology onto FirstWave’s unique proprietary Cloud Content Security Platform (CCSP).
The new technology, branded FirstCloud CyberCisionTM, is a powerful addition to FirstWave’s email, web, firewall and endpoint protection solutions for SMBs.
Under the terms of the agreement, SHELT received 4,413,430 FirstWave shares in return for services valued at USD297k. This investment is a significant development in the partnership between FirstWave and SHELT, reflecting SHELT’s confidence in FirstWave’s technology.
As the range of cyber threats facing businesses increases, SMBs are especially vulnerable as they generally do not have the resources or expertise to protect themselves or respond effectively to new and emerging threats.
The ADR technology underpinning FirstCloud CyberCisionTM analyses all perimeter cyber security events, automatically detecting targeted threats and orchestrating a response in real-time without human intervention. Through FirstWave’s CCSP, it is accessible to SMBs for the first time, in line with FirstWave’s mission to democratise enterprise-grade cybersecurity-as-a-service.
FirstWave Executive Chairman, John Grant, said: “We are thrilled to add FirstCloud CyberCisionTM to our platform, giving SMBs access to affordable enterprise-grade advanced and automated threat detection and response technology. This is a first for SMB cybersecurity offerings globally.”
“We welcome SHELT, our Level 1 Partner with whom we co-developed and integrated the solution onto our platform, as a new technology partner. It is a strong endorsement of our technology.”
FirstWave Chief Executive Officer, Neil Pollock, said: “This technology partnership will be a game changer for SMBs, that simply cannot afford to implement or manage ADR technology. It materially enhances the integrated perimeter cybersecurity offering available to end customers through our CCSP and will be a significant differentiator for FirstWave’s partners.”
SHELT Managing Director, Youssef Abillama, said: “We are excited to partner with FirstWave and in doing so bring advanced detection and response technology onto FirstWave’s CCSP. SHELT has a strong foothold in the European, Middle Eastern and African markets, and we are confident that the addition of ADR will further enhance the attractiveness of FirstWave’s product for our customers.”