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CynergisTek Announces 3-Year Cybersecurity Services Contract with Leading Sales Enablement Firm
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
CynergisTek (NYSE American: CTEK) has announced a $300,000 multi-year agreement to extend its Resilience Partner Program beyond healthcare, providing annual security risk assessments, penetration testing, and advisory services to a global sales enablement firm with about 2,000 clients. This shift signifies an important milestone in CynergisTek's strategy to enhance its offerings and aims to drive double-digit growth. The partnership helps clients bolster security and reduce cyber risks, showcasing the program's increasing value in the technology sector.
Positive
Secured a $300,000 multi-year agreement for the Resilience Partner Program.
Expanded services beyond healthcare, indicating growth potential and market diversification.
Program helps clients improve their security posture, aiding retention and attraction of clients.
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Resilience Partner Program exhibits value among technology firms
AUSTIN, Texas--(BUSINESS WIRE)--
Redspin, a division of CynergisTek (NYSE American: CTEK) announces a $300,000 multi-year Resilience Partner Program agreement to provide annual security risk assessments, penetration testing, and advisory services expanding its services outside of healthcare for a leading globally recognized sales enablement firm with nearly 2,000 customers.
“We were one of the first companies to offer a partnership program in the healthcare space, an industry targeted for its sensitive data, and with the threat landscape increasing and cyber-attacks becoming more sophisticated, no particular industry is out of reach, especially technology firms who capture, store, and process their clients' data through API connections,” says Mac McMillan, CEO and President of CynergisTek. “Our Resilience Partner Program acts as an extension of an organization’s security and privacy teams and data has shown that when a client is committed to improving their security posture, our partner clients have improved their NIST CSF scores year over year and have built up resilience for their organization. This win highlights the recognition of value and importance our partner program is gaining outside of our traditional healthcare provider customer base.”
The Resilience Partner Program is a long-term partnership to help clients reduce cyber risk and shore up their defenses by outlining goals and setting a course to meet those goals. Baseline services include annual risk assessments and testing to identify gaps and clients can choose to include value-added services to help remediate gaps, build out policies and procedures, provide experienced security and privacy resources, and conduct exercises and validation services to test the effectiveness of their people, processes, and technology. The true value of the Resilience Partner Program is the expertise and coach-to-client led support CynergisTek provides every step of the journey -- ensuring clients have an approach that responds every day by being prepared and rehearsed.
“The evolution of our non-healthcare clients into our flagship partner program, which used to be known as CAPP, the updated Resilience Partner Program (RPP) is an important milestone in our efforts to bring our expertise in helping organizations build out and manage their data protection programs,” said Paul Anthony, CFO of CynergisTek. “Expanding our core services is a key element of our plan to get back to double-digit growth.”
About Redspin
Redspin (www.redspin.com), a division ofCynergisTek, Inc., is a best-in-class cybersecurity company providing security testing, assessments, validation, and consulting services to many Fortune 500 and leading growth companies in highly regulated industries including government, financial, technology, and manufacturing. Redspin’s objective is to improve organizations’ cyber readiness and resiliency through a strategic and proven approach to reduce cyber risks and safeguard sensitive information.
About CynergisTek, Inc.
CynergisTek (www.cynergistek.com) is a top-ranked cybersecurity consulting firm helping organizations in highly-regulated industries, including those in healthcare, government, and finance navigate emerging security and privacy issues. CynergisTek combines intelligence, expertise, and a distinct methodology to validate a company's security posture and ensure the team is rehearsed, prepared, and resilient against threats. Since 2004, CynergisTek has been dedicated to hiring and retaining experts who bring real-life experience and hold advanced certifications to support and educate the industry by contributing to relevant industry associations. For more information, visit www.cynergistek.com or follow us on Twitter or LinkedIn.
This release contains certain forward-looking statements relating to the business of CynergisTek, Inc.. These forward-looking statements are within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “would,” “could,” “intends,” “may,” “will,” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including but not limited to uncertainties relating to product/services development; long and uncertain sales cycles; the ability to obtain or maintain proprietary intellectual property protection; future capital requirements; competition from other providers; the ability of the Company’s vendors to continue supplying the Company with supplies and services at comparable terms and prices; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; potential risks and uncertainties relating to the existing and ultimate impact of COVID-19, including the geographic spread, the severity of the virus, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact, and the potential negative impacts of COVID-19 on the global economy and financial markets, and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the COVID-19 pandemic, including its impact on the healthcare industry. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. CynergisTek is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
What is the significance of CynergisTek's new agreement announced on September 16, 2021?
CynergisTek's $300,000 agreement expands its Resilience Partner Program to a major sales enablement firm, showcasing growth potential outside the healthcare sector.
How does the Resilience Partner Program benefit CynergisTek clients?
The program provides risk assessments and advisory services, helping clients enhance their cybersecurity measures and resilience against threats.
What are the financial implications of CynergisTek's new partnership?
The partnership is valued at $300,000 and signifies a step towards CynergisTek's goal of achieving double-digit growth.
Which industries is CynergisTek targeting with its services?
CynergisTek is expanding its services to technology firms, moving beyond its traditional healthcare focus.
What services does CynergisTek's Resilience Partner Program include?
The program includes annual security risk assessments, penetration testing, and advisory services to improve client security measures.
