LeddarTech Fortifies Its Cybersecurity Framework with ISO/IEC 27001 Certification

Rhea-AI Summary

LeddarTech (Nasdaq: LDTC) has achieved ISO/IEC 27001 certification on September 18, 2024, demonstrating its commitment to information security management. This certification establishes a robust information security management system (ISMS) and validates the company's ability to protect against cyber-attacks, data leaks, and theft. The certification aligns with global regulatory requirements, including GDPR and UNECE WP, strengthening LeddarTech's position as a provider of AI-based low-level sensor fusion and perception software technology for automotive applications.

Positive

• Achievement of ISO/IEC 27001 certification enhances data security credibility
• Alignment with global regulatory requirements (GDPR and UNECE WP)
• Strengthened protection against cyber-attacks and data breaches

Negative

• None.

Insights

Tech Security Expert

The ISO/IEC 27001 certification marks a significant milestone for LeddarTech's cybersecurity infrastructure, particularly important for an automotive software company handling sensitive ADAS and AD technology data. This certification goes beyond a mere compliance checkbox - it demonstrates a comprehensive security framework that directly impacts the company's ability to secure major automotive contracts.

The timing is strategic, as cybersecurity becomes increasingly critical in automotive software development. With rising concerns about automotive cyber threats and data protection, this certification positions LeddarTech competitively against larger players in the ADAS market. The alignment with GDPR and UNECE WP regulations also opens doors to European markets where data protection requirements are stringent.

However, while this certification strengthens LeddarTech's market position, its 10.3M market cap suggests the company needs more than security credentials to significantly impact investor returns. The certification is a necessary foundation rather than a direct revenue driver.

QUEBEC CITY, Canada, Nov. 26, 2024 (GLOBE NEWSWIRE) -- LeddarTech^® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, is proud to announce that the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) have awarded LeddarTech ISO/IEC 27001 certification on September 18, 2024.

ISO/IEC 27001 certification represents a commitment to best-practice information security processes and establishes a robust information security management system (ISMS). This internationally recognized standard is the only information security management standard that is auditable, specifically outlining the requirements for managing information security risks.

“This certification provides unparalleled data integrity and security assurance for our customers,” stated Tal Alber, Senior Director of IT, Quality, Functional Safety and company security officer at LeddarTech. “Achieving ISO/IEC 27001 certification underscores our dedication to high cybersecurity standards. Our customers can be confident that their information assets are protected, preserving their trust in LeddarTech.”

By proactively implementing ISO/IEC 27001, LeddarTech systematically identifies, manages and mitigates risks associated with information security threats, such as cyber-attacks, data leaks and theft. This approach strengthens the company’s security posture and aligns its operations with global regulatory requirements, including GDPR and UNECE WP, instilling confidence in its customers and stakeholders.

“LeddarTech’s unwavering commitment to excellence in information security not only enhances our operational capabilities but also fortifies our reputation as a reliable partner in the automotive software industry, providing our clients and stakeholders with a sense of security and confidence in our operations,” added Frantz Saintellemy, President and CEO of LeddarTech.

For more information, please visit LeddarTech’s Quality, Functional Safety and Cybersecurity webpage.

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

Forward-Looking Statements

Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xi) LeddarTech’s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Annual Report on Form 20-F for the fiscal year ended September 30, 2023. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com

• Investor relations website: investors.LeddarTech.com
• Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com
• Financial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com
  

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1addb5f1-98bc-4655-8d2e-fcbe06f09b18

FAQ

When did LeddarTech (LDTC) receive its ISO/IEC 27001 certification?

LeddarTech received its ISO/IEC 27001 certification on September 18, 2024.

What security standards does LeddarTech's (LDTC) ISO/IEC 27001 certification comply with?

The certification complies with global regulatory requirements including GDPR and UNECE WP standards.

What security threats does LeddarTech's (LDTC) ISO/IEC 27001 certification help protect against?

The certification helps protect against cyber-attacks, data leaks, and theft through systematic risk identification, management, and mitigation.