- Cyber technology company Strikeforce Technologies Inc SFOR acquired cyber, privacy, and data protection solutions provider, Cybersecurity Risk Solutions LLC (CRS) to consolidate its channel distribution strategies and offer cost-effective cyber solutions to the marketplace for security risk mitigation.
- The financial terms of the transaction were not disclosed.
- CRS will continue to operate under the same name and will become a subsidiary of Strikeforce.
- The FBI reported a 400% jump from the pre-COVID period to 4000 cyberattack complaints per day. Around 28% of breaches involved small business victims, bankrupting 60% of the victims within six months of the attack, according to Verizon Communications Inc VZ.
- Strikeforce CEO Mark Kay will continue as CEO of the combined businesses. CRS CEO Will Lynch will become the Director of Channel Distribution.
- Price action: SFOR shares traded higher by 11.6% at $0.1172 on the last check Thursday.
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