CynergisTek Reports Over 200% Growth in Privacy and Compliance Services

Rhea-AI Summary

CynergisTek (AMEX:CTEK), a leader in cybersecurity, reports significant growth in contract wins for privacy consulting, GDPR, and CMMC services, with over 200% year-over-year growth. As data privacy and security become paramount for consumers, organizations are investing in compliance to enhance security practices and consumer trust. CynergisTek aims to expand its service offerings to meet growing demand, positioning itself as a vital partner for organizations navigating privacy regulations and cybersecurity threats.

Positive

• Over 200% year-over-year growth in contracts for privacy and compliance services.
• Increased demand for privacy and security services due to rising consumer awareness.
• Planned expansion of service offerings to meet market demand and enhance client support.

Negative

• None.

Multiple companies in highly regulated industries rely on CynergisTek for privacy consulting, GDPR, and CMMC services

AUSTIN, Texas--(BUSINESS WIRE)-- CynergisTek (NYSE American: CTEK), a leading cybersecurity firm helping organizations in highly regulated industries navigate emerging security and privacy issues, report new contract wins for privacy consulting, GDPR, and CMMC services that push year over year growth over 200% in the number of contracts for privacy and compliance services across multiple verticals.

In a recent report, data privacy (55 percent) and data security (57 percent) are now top issues that are most important to consumers, and brands are starting to take notice. The uptick in privacy and compliance services for CynergisTek comes from organizations who understand that data privacy and security is a necessity, not a nice to have. These organizations are investing in building best-in-class privacy and security practices that are compliant with requirements such as the Department of Defense’s CMMC certification as a way to bolster the nation’s security and consumer privacy laws like GDPR for European residents and CCPA for California residents.

CynergisTek’s privacy and compliance services help organizations assess their programs to determine if their practices meet industry standards and where to focus efforts for advancement. Expert resources from different disciplines are also provided to develop policies and procedures, perform remediation work, manage functions for the privacy and security teams who lack the resources, budget, or time to commit to performing day-to-day tasks, and validate the overall effectiveness of data privacy and security programs.

“Privacy and security are intertwined, and we aim to help our clients make the connection between the two practices to create robust data privacy and security operations, ultimately improving consumer trust and revenue for the organization,” says Marti Arvin, Vice President of Compliance & Privacy at CynergisTek. “Soon we will be offering more privacy and compliance services to meet the demand that will enrich our overall portfolio and support our clients in reducing cyber risk and build resilience for their organization.”

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.

Cautionary Note Regarding Forward Looking Statements

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.

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Investor Relations Contact:

CynergisTek, Inc.

Paul Anthony

InvestorRelations@cynergistek.com

Media Contact:

Allison + Partners

Jaime Tero

415-755-8639

jaime.tero@allisonpr.com

Source: CynergisTek, Inc.