Consulting firm Elixirr has agreed a strategic partnership with CyberInt, an Israeli cyber security firm. The move allows Elixirr to leverage CyberInt’s software to help organisations identify external vulnerabilities in their digital frontier, while for CyberInt, the deal sees it expand its client base.
Cyber security has over the past years grown into one of the largest threats for organisations and companies across the globe. According to a recent analysis by Aon, the total costs of cybercrime today amount to more than $400 billion globally, and looking ahead, both the volume as well as impact of e-crime is forecasted to continue its rapid growth trajectory. Hardly a day goes by without a cyber breach hitting the headlines, with a recent study by the HM Government showing that, in the UK, currently 90% of large organisations (with an average cost of £1.5 to £2.0 million per breach) and 74% of small organisations are affected by cybercrime.
The massive impact of, and costs that are associated with, cyber breaches is lifting cyber security right to the top of Boardroom agendas. “Firms are fearful – and rightly so”, says Stephen Newton, Managing Partner of Elixirr, a London based consulting firm that specialises in management and IT consultancy. “New demands are being made of information security, exacerbated by serious breaches of some of the world’s largest organisations.” Large-scale hacks on companies that have dominated the headlines include an attack on Citrix, one of the largest technology companies in the world that serves 330,000 organisations worldwide, and on British pub chain JD Wetherspoon, a data breach which caused a leak of more than 650,000 customer details.
Despite the growing awareness and funds flowing towards bolstering information security strategies, organisations continue to struggle with battling cyber security threats. In a bid to support its clients with successfully taking on digital criminals, Elixirr has struck a partnership with CyberInt. Founded in 2009, in Israel, CyberInt has since grown into an international player in the cyber security landscape, and today provides its customers, including the likes of several Fortune 500 companies, a range of intelligence, online and technology services.
“We know that our clients are more and more concerned about fast and aggressive attacks from threats they didn’t know were there. Our partnership with CyberInt marks a significant milestone as our cyber security services now run end-to-end”, comments Newton. The consultancy’s portfolio spans IT advisory services (e.g. defining an approach, identifying the most valuable assets or evaluating internal security) and a variety of execution related offerings, and, with the addition of CyberInt’s propositions, Elixirr can now also provide expertise that monitor external threats. Among the offerings that will be integrated into Elixirr’s portfolio are targeted cyber intelligence, online asset protection and automated red-team attack simulations to pinpoint weaknesses in cyber defence systems.
“This partnership builds on our existing security capability – we can now show our clients exactly where their vulnerability lies outside their organisation – by uncovering their weaknesses in the shadows of the dark web. This means organisations can protect their businesses over and above their traditional perimeters.”
Commenting on the partnership with the UK consultancy, Amir Ofek, CEO of CyberInt, says: “There’s a growing concern among business leaders regarding the risks associated with cyber. To mitigate these risks, CIOs must align their security strategy with their company’s leadership and business strategy. Our partnership with Elixirr uniquely facilitates this exact need; allowing decision makers to align their cybersecurity strategy with their business goals.”
The partnership follows previous deals sealed by CyberInt and Elixirr in recent months. In February this year CyberInt struck an agreement with FireLayers, a cloud application security specialist with hubs in the US and Israel, while in November last year Elixirr took a stake in Panaseer, a promising UK cyber security startup.
“We’re delighted to partner with CyberInt to help our clients tackle a real and potentially devastating issue”, concludes Newton.