StrikeForce Technologies Acquires Cybersecurity Risk Solutions LLC Expanding Its Identity and Endpoint Cyber-Defense Arsenal

Rhea-AI Summary

StrikeForce Technologies, Inc. (OTC PINK: SFOR) announced its acquisition of Cybersecurity Risk Solutions LLC (CRS), which enhances its portfolio in cyber, privacy, and data protection solutions.

This strategic move aims to strengthen channel distribution and offer cost-effective security services amid rising cyber threats, which have seen a 400% increase in reports according to the FBI.

Mark Kay, CEO of StrikeForce, stated that the acquisition marks a significant milestone, driving new revenue opportunities and solidifying their market position.

Positive

• Acquisition of CRS enhances StrikeForce's portfolio in cyber and data protection.
• Strengthens channel distribution strategies, allowing for increased market penetration.
• Potential for new revenue opportunities through best-in-class cyber mitigation tools.

Negative

• None.

New Acquisition Adds Comprehensive Cyber, Privacy & Data Protection Solutions

EDISON, N.J., April 08, 2021 (GLOBE NEWSWIRE) -- StrikeForce Technologies, Inc. (OTC PINK: SFOR), a cyber technology company that reduces the risk of identity theft and data breaches, today announced the acquisition of Cybersecurity Risk Solutions LLC (CRS), a provider of innovative cyber, privacy and data protection solutions for business and home.

The acquisition enables StrikeForce to grow and strengthen its channel distribution strategies and provide the marketplace with cost-effective cyber solutions for mitigating security risks.

“Today is an important milestone in StrikeForce’s evolution and growth, as this deal will greatly improve our ability to deliver innovative and comprehensive data protection technology to our customers,” said Mark Kay, CEO at StrikeForce Technologies, Inc. “By combining forces with CRS, we are able to enhance our broader portfolio offerings and capabilities, while driving new revenue opportunities through our best-in-class cyber mitigation tools. This is key to our business strategy and will center us as a major player in the market.”

Cyber threats and data breaches targeting businesses, particularly smaller organizations, have been dramatically increasing in volume and frequency around the globe. Yet, due to limited IT and financial resources, many companies struggle to defend against these cyber-attacks, creating massive vulnerabilities for underfinanced and under-resourced businesses. The FBI recently reported that the number of complaints about cyberattacks to their Cyber Division is up to as many as 4,000 a day, representing a 400% increase from what they were seeing pre-COVID. Additionally, the Verizon Data Breach Investigations Report (DBIR) found that 28% of breaches involved small business victims, 60% of those victims go out of business within six months of an attack according to Verizon.

CRS has been recognized as providing the missing piece of the puzzle for businesses by integrating “pre-breach” commercial cyber services, with innovative risk mitigation tools to reduce cyber exposure and help to mitigate contingent risks.

In the event of an attack, the CRS cyber services are quickly activated, conserving time and money while preserving the company’s reputation and compliance record. As an integrated solution, StrikeForce and CRS provide best-in-class pre-breach cyber services and innovative risk mitigation tools, that provide enterprise-grade security at a fraction of the cost.

Cybersecurity Risk Solutions will continue to operate under the same name and will become a subsidiary of StrikeForce Technologies, Inc. StrikeForce CEO Mark Kay will remain as CEO of the combined businesses, while Will Lynch, Founder & CEO of CRS, will be joining the company as a Director of Channel Distribution.

“We've worked with the StrikeForce team since 2016 and are excited to deepen our relationship and bring our innovative services & tools to the channel distributors,” said Will Lynch, Founder & CEO of Cybersecurity Risk Solutions (CRS). “Our vision is to provide this missing piece of the puzzle to our end-user customers to reduce the global cyber threats at scale as they continue to evolve.”

For more information go to https://www.strikeforcetech.com/.

About StrikeForce Technologies Inc.
StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, keystroke encryption along with mobile solutions. StrikeForce Technologies, Inc. (OTC PINK:SFOR) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com, on its Twitter and Facebook pages, or by phone at (732) 661-9641 or toll-free at (866) 787-4542.

About Cybersecurity Risk Solutions, LLC (CRS)
CRS is a cybersecurity firm offering cyber, privacy & data protection services. Includes a personal cyber risk assessment, industry’s first cyber health score, report and custom action plan, as well as ongoing vulnerability scanning, hack monitoring and dark web intelligence monitoring. For more information, go to https://SecureCyberID.com.

Media contact:
Kevin Blomberg
Fusion Public Relations
kevin.blomberg@fusionpr.com
(617) 869-1413

FAQ

What is the significance of the acquisition of CRS by SFOR?

The acquisition allows StrikeForce to enhance its offerings in cyber, privacy, and data protection, addressing increasing demand for such solutions.

How does the acquisition affect StrikeForce's market position?

It strengthens StrikeForce's channel distribution strategies and positions the company as a major player in the cybersecurity market.

What are the financial implications of the acquisition for SFOR?

The deal is expected to drive new revenue opportunities through enhanced product offerings and capabilities.

When was the acquisition of CRS by SFOR announced?

The acquisition was announced on April 08, 2021.