Nubeva Announces First Sale of its Ransomware Reversal Solution to Higher Education Market

Rhea-AI Summary

Nubeva Technologies has announced a software partnership with a Midwest college, marking its entry into the higher education sector's cybersecurity market. This collaboration aims to combat the rising threat of ransomware attacks, with 64% of institutions reportedly targeted last year. Nubeva's technology captures ransomware encryption keys during attacks, enabling organizations to decrypt files without paying ransoms. The college's Chief Technology Officer has expressed confidence in this solution enhancing their cyber resilience and business continuity.

Positive

• Partnership with a Midwest college expands Nubeva's market reach into higher education.
• Nubeva's technology captures ransomware encryption keys, allowing decryption without ransom payment.
• Growing need for cybersecurity solutions in education, highlighted by 64% of institutions attacked by ransomware last year.

Negative

• None.

Nubeva’s technology fills education market’s gap and equips institutions with ransom-less decryption protection and resilience from ransomware attacks

SAN JOSE, Calif., Oct. 13, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced a software partnership with a college in the Midwest. The college is among a growing number of higher education institutions to take proactive steps to combat ransomware and other cyber attacks.

“As Nubeva’s technology continues to demonstrate its success, it has expanded its reach into new markets and clients. This sale is the first to an important and untapped market: Higher education institutions,” said Steve Perkins, Nubeva’s Chief Marketing Officer. “Certainly this contract provides solid validation of Nubeva’s maturing product-market fit.”

The sale validates the market-need and product-fit of the Nubeva’s breakthrough ransomware attack recovery protection solutions.

“It’s clear that education–and higher education specifically–needs to take the threat of cyber attacks very seriously,” said the college’s Chief Technology Officer. “We have done a serious audit of our defense strategy. We are confident that Nubeva’s technology will secure the critical gap in our cyber resilience and strengthen our business continuity plan. It’s the right kind of insurance against ransomware attacks that will occur all over the education sector.”

Education institutions are at-risk for ransomware attacks and have become easy targets.

“A recent report by Sophos finding that 64 percent of institutions of higher education were attacked by ransomware in the past year alone, up from 37 percent the year before,” said Steve Perkins. “Nubeva’s approach to ransomware protection is unique within the market and provides a much-needed source of resilience to a sector that houses large amounts of critical data and that heavily depends on their systems for daily operations.”

“In a time where we regularly see evidence of education-related cyberattacks in the news—including the ultimate closing of Lincoln College and the recent attack on the Los Angeles School District—we are pleased to find a cybersecurity solution that fits our institution’s needs,” said an IT representative for the college. “Nubeva’s technology provides our college with a fast, easy way to decrypt modern ransomware attacks—which is virtually unheard of in the industry.”

Nubeva’s technology captures ransomware encryption keys at the moment of attack, enabling victim organizations to decrypt locked files without paying the ransom. Additionally, Nubeva’s software collects vital metadata on the attack to aid in incident response, significantly aiding triage, investigations, and threat removal.

Nubeva’s ransomware reversal software is easy to implement and operate and is customizable, making it a viable solution for schools and organizations of any size. It’s available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. More details on Nubeva’s ransomware reversal and retrieval abilities are available here.

About Nubeva Technologies

Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so that businesses never pay ransoms again.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release, and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For additional information or to schedule interviews, please contact:

Steve Perkins
Chief Marketing Officer, Nubeva
sperkins@nubeva.com
(714) 261-9948

 

FAQ

What recent partnership did Nubeva Technologies enter into?

Nubeva Technologies announced a software partnership with a college in the Midwest to enhance cybersecurity against ransomware attacks.

How does Nubeva's technology help in ransomware attacks?

Nubeva's technology captures ransomware encryption keys at the moment of attack, enabling organizations to decrypt locked files without paying a ransom.

What percentage of higher education institutions faced ransomware attacks last year?

A recent report indicated that 64% of higher education institutions were attacked by ransomware in the past year.

What benefits does Nubeva's ransomware reversal software provide?

The software is designed to be easy to implement and customizable, making it suitable for various educational institutions and organizations.