Intrusion, Inc. Announces Partnership with InnerCore Technologies and Multi-Year Deal

Rhea-AI Summary

Intrusion, Inc. (NASDAQ:INTZ) has announced a significant multi-year reseller agreement with InnerCore Technologies to provide its cybersecurity solution, Intrusion Shield, to a major hospitality company. This partnership will generate annual recurring revenue for Intrusion until at least 2025. The Intrusion Shield solution is designed to combat evolving cybersecurity threats in the hospitality sector, enhancing network security and customer experience. The collaboration highlights the accuracy and effectiveness of Intrusion Shield in preventing cyberattacks, establishing a strong foothold in the industry.

Positive

• Secured a multi-year deal with a large hospitality company, ensuring annual recurring revenue until at least 2025.
• The partnership expands the reach of Intrusion Shield, a cybersecurity solution effective against evolving threats.
• Demonstrated effectiveness of Intrusion Shield in preventing a significant cyberattack shortly after implementation.

Negative

• None.

Intrusion's New Managed Security Services Reseller, InnerCore Technologies, Completes Its First Multi-Year Deal With a Large Hospitality Company for Intrusion Shield

PLANO, TX / ACCESSWIRE / June 2, 2022 / Intrusion, Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, including zero-days, announced a reseller agreement with InnerCore Technologies. InnerCore Technologies will resell Intrusion's products to its customer base of leading resorts and vacation destinations.

Through this new reseller agreement with InnerCore Technologies, Intrusion has secured an important deal with a leading east-coast hospitality company. The agreement put in place with InnerCore Technologies, and its end-user, is a multi-year arrangement generating annual recurring revenue (ARR) for Intrusion until at least 2025.

"We are incredibly proud to announce our partnership with InnerCore Technologies, a premier MSSP and provider of IT resources to the hospitality industry," said Tony Scott, Chief Executive Officer of Intrusion. "We are immediately realizing the benefits of this partnership through the recent signing of a multi-year deal with a large hospitality customer. Our Intrusion Shield is ideally suited to address the complex and evolving cybersecurity threats that face resorts and the hospitality industry generally, which house vast amounts of sensitive customer data, process many visitors, and have cybersecurity challenges that continue to increase. With Intrusion Shield, organizations can block a significant volume of unwanted and potentially dangerous ad traffic and in turn, improve the customer experience with greater utilization of the available network capacity. This partnership expands Intrusion Shield's presence among a nationwide network of customers and provides a critical, cost-effective solution to the growing need for threat protection in the industry."

"We are excited to announce this partnership with Intrusion. We were impressed with Intrusion Shield's accuracy in preventing a cyberattack within the first week of implementation that would have otherwise taken place on one of our largest customer's networks," said Desmond Spencer, Chief Technology Officer of InnerCore Technologies. "Ensuring that our networks are secure against increasingly sophisticated cybersecurity attacks remains a top priority for our clients who require powerful solutions that can seamlessly integrate with their existing networks. By leveraging Intrusion Shield's advanced threat intelligence database, InnerCore Technologies delivers more robust and valuable cybersecurity services to our end customers."

About InnerCore Technologies

InnerCore Technologies presents a uniquely stress-free approach to managed services while acting as an extension of its clients' IT departments. With over 50 years of industry experience, the Company helps to limit the struggles of managing and maintaining technology infrastructure. Given the growing complexity of today's IT environments, third-party vendor management is one of the most critical, yet underappreciated functions performed by an MSSP. The Company aids customers in keeping up with the technological world's constant changes by continually aligning technology with the customer's business needs.

About Intrusion Inc.

Intrusion, Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the company released its first commercial product in 2021. Intrusion Shield allows businesses to incorporate a zero trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from entering or exiting a network to help protect against zero-day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.

Cautionary Statement Regarding Forward-Looking Information

This release may contain certain forward-looking statements, including, without limitations, comments about the performance of protections provided by our Intrusion Shield product and any other words that react to management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof. They involve several risks and uncertainties, including, without limitation, the chances that our products and solutions do not perform as anticipated or do not meet with widespread market acceptance. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."

IR Contact:
Alpha IR Group
Mike Cummings or Sam Cohen
INTZ@alpha-ir.com

SOURCE: Intrusion, Inc.

View source version on accesswire.com:
https://www.accesswire.com/703643/Intrusion-Inc-Announces-Partnership-with-InnerCore-Technologies-and-Multi-Year-Deal

FAQ

What is the significance of Intrusion's partnership with InnerCore Technologies?

The partnership allows Intrusion to secure a multi-year deal with a large hospitality company, generating recurring revenue and expanding the market presence of Intrusion Shield.

How does Intrusion Shield benefit the hospitality industry?

Intrusion Shield helps protect sensitive customer data and improves network performance, addressing increasing cybersecurity challenges in the hospitality sector.

When does the multi-year agreement with InnerCore Technologies run until?

The agreement is set to generate recurring revenue for Intrusion until at least 2025.

What does Intrusion Shield protect against?

Intrusion Shield is designed to block known malicious connections and defend against zero-day and ransomware attacks.

What is the stock symbol for Intrusion, Inc.?

The stock symbol for Intrusion is INTZ.