Radware to Provide Advanced DDoS Protection for Asian Tax Authority
- Radware (RDWR) secures a significant million-dollar deal with an Asian tax authority for Defense Pro X DDoS protection.
- The deal showcases Radware's expertise in the public sector and its ability to combat emerging cyber threats effectively.
- Radware's Defense Pro X offers automated, adaptive protection against various forms of DDoS attacks, including encrypted web application attacks.
- The company's solutions have been recognized by industry analysts as market leaders in cyber security.
- Radware's 2024 Global Threat Analysis Report highlights the increasing number of malicious web application and API transactions, emphasizing the need for robust DDoS protection.
- The Defense Pro X solution defends against IoT-based, Burst, DNS, TLS/SSL attacks, ransom DDoS campaigns, IoT botnets, and other cyber threats.
- The deal underscores Radware's commitment to providing cutting-edge cyber security solutions to government entities and organizations worldwide.
- None.
Insights
The announcement of Radware's deal with an Asian tax authority to provide advanced DDoS protection is a noteworthy development in the cybersecurity landscape. The deal emphasizes the growing necessity for robust cybersecurity measures within government entities, especially as they manage sensitive data and ensure the continuity of critical operations. The adoption of Radware's Defense Pro® X highlights the increasing sophistication of DDoS attacks, particularly at the application layer (Layer 7) and the shift towards solutions that can handle encrypted traffic and zero-day threats.
From a cybersecurity perspective, the significance of this deal lies in the recognition that traditional security measures, such as signature-based detection, are becoming insufficient against modern DDoS tactics. As attacks evolve, the demand for adaptive, real-time defenses that can discern between legitimate and malicious traffic without hindering performance is paramount. The investment in advanced DDoS protection by a federal tax authority also signals to other governmental and private sector entities the importance of updating their cyber defense strategies to mitigate the risks associated with high-volume and multi-vector attacks.
Radware's announcement of securing a million-dollar deal with a federal tax authority not only serves as a testament to its market position but also reflects the broader market dynamics within the cybersecurity sector. The increased prevalence of sophisticated cyber threats, as noted in Radware's Global Threat Analysis Report, is driving demand for more advanced security solutions. This uptick in demand is likely to have positive implications for Radware's revenue streams and market share.
Furthermore, the recognition by industry analysts and the accumulation of awards positions Radware favorably among competitors. This deal could potentially act as a catalyst, enhancing Radware's reputation and leading to increased investor confidence. It is also indicative of a larger trend where governments are allocating more resources to cybersecurity, which could lead to a surge in public sector contracts for industry players.
The financial implications of Radware's deal with an Asian tax authority extend beyond the immediate revenue generation. It is indicative of the company's ability to penetrate high-value markets, such as government sectors internationally. The long-term benefits may include recurrent revenue through maintenance and updates, as well as potential upsells of additional services. The deal also reflects positively on Radware's sales strategy and product competitiveness.
Investors should consider the implications of such deals on Radware's financial health. The immediate revenue from the deal will contribute to the company's top-line growth. Additionally, securing contracts with government entities often leads to a perception of reliability and security in the company's offerings, which can enhance Radware's brand equity and potentially lead to further deals. However, it's important to monitor the company's ability to deliver on these contracts without incurring excessive costs, which could impact profitability.
Million-dollar deal includes defense against volumetric layer 7 DDoS attacks
MAHWAH, N.J., April 02, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced an Asian tax authority will use Radware’s advanced Defense Pro® X DDoS protection to increase defenses surrounding its technology infrastructure. The security purchase by the federal authority is part of a million-dollar deal.
Chartered to protect its country’s economic interests, the tax authority’s responsibilities include administering tax policy, managing and securing associated communications and information technologies, and maximizing operational efficiencies.
“This win underscores Radware’s strength and expertise in the public sector,” said Yoav Gazelle, Radware’s chief business officer. “Governments around the world are being tasked to protect sprawling infrastructures and, in many cases, legacy systems while DDoS attacks escalate in frequency and complexity. Radware’s Defense Pro X is unmatched in its ability to accurately mitigate emerging forms of volumetric, multi-vector, layer 7 DDoS attacks, while tools that rely on pre-existing signatures or rate-based detections may fail to work without blocking legitimate traffic.”
According to Radware’s 2024 Global Threat Analysis Report, the total number of malicious web application and API transactions increased by
Designed to accurately detect and block malicious traffic and offer uninterrupted availability, DefensePro X provides automated, adaptive DDoS protection from fast-moving, high-volume, encrypted or zero-day threats. It defends against IoT-based, Burst, DNS and TLS/SSL attacks, ransom DDoS campaigns, IoT botnets, phantom floods, and other types of cyber threats.
Radware has received numerous awards for its DDoS mitigation, application and API protection, web application firewall, and bot detection and management solutions. Industry analysts such as Aite-Novarica Group, Forrester Research, Gartner, GigaOm, KuppingerCole, and Quadrant Knowledge Solutions continue to recognize Radware as a market leader in cyber security.
About Radware
Radware® (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware’s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.
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Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that our DDoS defense is designed to accurately detect and block malicious traffic and offer uninterrupted availability, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.
Media Contact:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com
FAQ
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