IGI Creates Subsidiary IGI CyberLabs, Names Stuart Cohen as President

Rhea-AI Summary

Infinite Group, Inc. (OTCQB: IMCI) has announced the formation of a wholly owned subsidiary, IGI CyberLabs, to enhance its Nodeware cybersecurity SaaS platform and drive software development. Stuart Cohen, a seasoned cybersecurity leader, has been appointed as President of the new subsidiary. This move aims to expand Nodeware's reach, making its advanced vulnerability management tools accessible to small and medium businesses (SMBs). With a focus on cost-effective solutions, IGI aims to fill the cybersecurity gap for SMBs facing increasing threats.

Positive

• Creation of IGI CyberLabs to focus on Nodeware and software development.
• Appointment of Stuart Cohen, an experienced cybersecurity professional, as President.
• Nodeware is positioned as a cost-effective solution for small and medium businesses, addressing their specific cybersecurity needs.

Negative

• None.

The cybersecurity services and software company is moving its Nodeware® SaaS platform and other IP to a wholly owned subsidiary focused on software sales and development solutions to accelerate growth

PITTSFORD, NY / ACCESSWIRE / June 9, 2021 / Infinite Group, Inc. (IGI) (OTCQB:IMCI) announces today that the company is creating a wholly owned subsidiary to support its Nodeware solution and continued software development: IGI CyberLabs. The company has named cybersecurity industry veteran Stuart Cohen as the new President of IGI CyberLabs.

IGI is sharing this news today as it showcases the company at the ChannelPro SMB Forum-Dallas, both in person and virtually.

IGI is the creator of the patented Nodeware Vulnerability Management Solution, its proprietary SaaS solution that was developed by IGI's own cybersecurity practitioners to provide complete network visibility and monitoring to help businesses lower their risk of a cyber attack. Nodeware is unique in the VM market, combining new device recognition with vulnerability scanning to enable businesses to easily monitor their network, identify security gaps, and access detailed reports in order to achieve security compliance-all while running silently in the background during normal business hours.

"Nodeware is a cost-effective vulnerability management solution tailored for the unique requirements of small and medium businesses," Cohen said. "This solution identifies devices and vulnerabilities on networks that are constantly under attack. And Nodeware's ability to scan during normal business hours without any disruption to the network is a game-changer, making it a must-have for business executives and owners who are concerned about their business continuity."

Cohen joined IGI to help bring Nodeware to a wider audience through a network of partners and to build out the portfolio of offerings for IGI CyberLabs. The new subsidiary is focused on providing solutions-like Nodeware-to SMBs that were previously only affordable or accessible to larger corporations that have CISOs and CIOs. With many small businesses concerned about cyber security risk, Nodeware helps bring a cost-effective security solution to this underserved segment of the market.

Cohen was the Founder of The Cybersecurity Collaborative and a former VP at the CyberRisk Alliance. He brings more than 35 years of industry experience in high tech, open source, and cybersecurity collaboration.

"Stuart brings strong cybersecurity leadership and decades of experience to his role as the new leader of Nodeware and IGI CyberLabs," said IGI President and COO Andrew Hoyen. "We are thrilled to be growing this division of IGI and continuing to bring new, essential cybersecurity solutions to the market."

Nodeware is sold directly and through the channel, including via Telarus Inc., SYNNEX Distribution, and Staples Business Solutions.

Learn more about Nodeware at www.nodeware.com or visit the company website at www.IGIcybersecurity.com. Email IR@igius.com for investment inquiries.

Safe Harbor Statement

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: the ability of our products and services to detect and prevent cybersecurity threats, our ability to maintain our listing on the OTCQB Market, our ability to maintain and expand our business partnerships, adverse economic conditions, competition, federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks, including those discussed under the heading "Risk Factors" in our Annual Reports and Quarterly Reports filed with the Securities and Exchange Commission. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov, as well as IMCI's website located at http://www.igicybersecurity.com.

About IGI

Headquartered in Rochester, NY with a remote workforce spanning across the United States, IGI Cybersecurity delivers people-driven cybersecurity for personalized, resilient cyber defense focused on individualized business strategy, enterprise-wide expertise and unshakeable partnership. We are The Cybersecurity People™.

IGI is also the OEM of the Nodeware® vulnerability management solution, an award-winning SaaS platform that continuously scans networks to identify critical vulnerabilities. Learn more at igicybersecurity.com and nodeware.com.

Media Contact

Megan Brandow, Director of Marketing
mbrandow@igius.com
(585) 727-0983

SOURCE: Infinite Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/651069/IGI-Creates-Subsidiary-IGI-CyberLabs-Names-Stuart-Cohen-as-President

FAQ

What is the purpose of IGI creating IGI CyberLabs?

IGI created IGI CyberLabs to enhance its Nodeware solution and focus on software development, making cybersecurity tools more accessible to small and medium businesses.

Who has been appointed as President of IGI CyberLabs?

Stuart Cohen has been appointed as President of IGI CyberLabs, bringing over 35 years of cybersecurity experience.

How does Nodeware benefit small and medium businesses?

Nodeware provides cost-effective vulnerability management solutions tailored to the cybersecurity needs of small and medium businesses, helping them monitor and protect their networks.

What recent event did IGI participate in to showcase its solutions?

IGI showcased its solutions at the ChannelPro SMB Forum-Dallas both in person and virtually.