DARKTRACE PLC U/ADR - DRKTY STOCK NEWS

Darktrace reports strong demand for its PREVENT™ product family, indicating a shift toward proactive cyber security solutions. New data shows that nearly two-thirds of organizations lack confidence in identifying vulnerabilities, while 81% believe AI can enhance their security posture. The global cost of cybercrime is projected to rise from $6 trillion to $10.5 trillion by 2025. Darktrace's PREVENT leverages AI to identify threats before breaches occur, with a notable increase in customer opt-ins since its launch in August 2022.

Darktrace, a leader in cyber security AI, has expanded its customer base in the critical infrastructure sector, signing multiple new contracts. New clients include:

• A global maritime trade organization
• A major Scandinavian oil refinery
• A European renewable energy science organization
• A UK waste management company
• A US wholesale electrical distributor

This expansion comes amid increased cyber threats to critical infrastructure, highlighting the necessity of enhanced security measures.

Darktrace and HackerOne have partnered to enhance cybersecurity through the integration of Darktrace's PREVENT/Attack Surface Management™ technology with HackerOne's continuous security assessment tools. This collaboration aims to help organizations identify and mitigate security risks across their digital assets. A recent report indicates that many organizations monitor less than 75% of their attack surface, highlighting a significant security gap. By leveraging AI and ethical hacking expertise, the partnership aims to improve vulnerability discovery and bolster attack resistance.

Darktrace, a leader in cyber security AI, will present at Black Hat USA 2022 in Las Vegas on August 10. The sessions include 'How Darktrace Helps the City of Las Vegas Harden Its Attack Surface' and 'Outcome-based AI Cyber Security: Are We Ready?'. Nicole Eagan and other experts will discuss proactive strategies to mitigate cyber risks, focusing on AI's role in enhancing security measures. Darktrace's new PREVENT™ technology will be showcased, utilizing AI to identify attack pathways and strengthen defenses.

Darktrace Federal, a division of Darktrace, appointed Marcus Fowler, ex-U.S. Marine and CIA officer, as CEO on June 8, 2022. Launched in March 2022, Darktrace Federal aims to bolster U.S. national security by utilizing Self-Learning AI for the Department of Defense and federal agencies. Key initiatives include achieving FedRAMP certification for cloud deployments, conducting technical demos, and leveraging DoD contracts for rapid deployment. Fowler emphasized the importance of proactive defense against cyber threats, aiming to keep federal entities ahead of potential attacks.

On May 13, 2022, Darktrace secured a million-dollar deal with a leading global technology company in the semiconductor sector to implement its Self-Learning AI. This system aims to protect both IT and operational technology (OT) environments by securing intellectual property and telemetry data. Darktrace's Industrial Immune System is designed to adapt to the company’s operational patterns, identifying unusual threats efficiently. The collaboration emphasizes the importance of cybersecurity in the rapidly evolving semiconductor industry, ensuring the integrity of the global manufacturing supply chain.

On May 12, 2022, Darktrace announced that Bluebird Group, Indonesia's largest taxi operator, has chosen its AI technology to enhance cybersecurity. With a workforce of over 2,000, Bluebird aims to protect its growing digital services from increasing cyber threats. Darktrace's Antigena technology autonomously halts ongoing attacks while maintaining normal operations, allowing security teams to focus on strategic decisions. The APAC region saw a 33% increase in cyber incidents in 2021, with the transport sector being a key target.