FINALISED: 25-11-15 PUBLISHED: 25-11-15 The $100BN+ Data...

FINALISED: 25-11-15 PUBLISHED: 25-11-15

The $100BN+ Data Security Market is Ripe for this Cyber Duo: ASX Shell Days Away From Acquisition

Online data security is serious business.
Just ask Ashley Madison – a site that connects people who want to cheat on their partners.
You may remember Ashley Madison from such screw ups earlier this year as having the intimate personal details of 32 million users stolen and hung out to dry online, leaving its embattled parent company, Avid Life Media open to class actions, and on the brink.
Ouch.
These problems occur because interconnectivity, digitisation, and insecure cloud structures open data to unwanted users, whilst raising security and privacy issues.
‘Cloud computing’ allows data and programs to be stored and accessed over the internet – instead of it data sitting on your computer’s hard drive.
Simply put, this allows file sharing over the internet – and there are plenty of file sharing services out there, including Google Drive and Dropbox, that are aimed at individual users that are very successful.
However with fragmented solutions and different technical agendas, security is often an afterthought…

That’s a big reason why corporations have not leapt on the cloud computing bandwagon as much as individuals.​

As more sensitive information and ideas are synced to the cloud, and with cloud-computing taking up a larger share of corporate operations, the inevitable issue of securing data is suddenly problematic.
But there is one innovative North American company leading the way in helping businesses secure sensitive information.
This company is on the verge of a reverse takeover (RTO) into an ASX-listed shell, with an expected market cap of $25M after completion of the deal.
Simply put, the company’s aim is to:

Provide a ubiquitous secure file sharing solution that can be deployed quickly and easily on any mobile device.​

Before we delve too far about this company’s business plan, it is recommend you keep yourself as secure as possible, and apply caution and seek professional advice when considering this stock as an investment.
Collectively, corporations spend billions each year to combat cyber-attacks, data leaks and security breaches but despite their best efforts, all that’s required to undermine the hard work is an absent-minded or disgruntled employee.
Really all it takes to start a breach is a lost phone or an employee who forgets to install the latest security update.

When you consider the average cost of a single, successful cyberattack is US$300,000 and companies are attacked an average of 2 million times per week, that lost phone can have serious ramifications.​

So, is it possible to make data security ‘foolproof’?
It is.
And this company, started by a former Bank of America cryptographer, looks like it may be succeeding in doing so.

This company has come up with a way to safeguard all data and real-time communication between a company’s employees regardless of their negligence.​

Not only that, but it has also enabled users to share confidential information across devices without compromising security.
Privacy-related criticism levelled at cloud computing flaws could potentially be a thing of the past as this company attempts to merge retail user functionality with military-grade reliability and deliver a dependable data security solution.
Four years in the making, and after A$5M has been invested in this technology to date, this company is set to list on the ASX via a reverse takeover that is now just a few weeks away.