Cipherpoint GmbH, a subsidiary of ASX-listed data security company Cipherpoint Ltd (ASX:CPT), intends to deploy multiple test sites within Germany as it ramps up how its core encryption product cp.Protect can deliver enhanced protection for sensitive data in government organisations.
With existing government and defence customers already in the United States and Singapore, this initiative paves the way for Cipherpoint to extend its reach into Germany’s government sector, particularly in Defence.
cp.Protect will allow sensitive agencies and their preferred integrators to more securely use Windows-based productivity platforms such as SharePoint, while retaining strict access controls, data protection and detailed auditing and logging.
“Enabling solution”
COO Steven Bliim said: “It is clear that German agencies are seeking to have simple solutions that can offer them complete control of their encryption keys and respect their data sovereignty.
“The company is excited that it has the enabling solution with its cp.Protect product.
“With the recent completion of a POC last month, we intend to appoint appropriate channel partners in the area shortly.”
European presence
This initiative further enhances the company’s growing European presence and follows the signing earlier this week of a sales and purchase agreement to acquire Brace168 Pty Ltd after the satisfactory completion of due diligence.
Brace168 builds innovative IT and cybersecurity solutions that work seamlessly across business and enterprises or government agencies.
Its customers are across the financial property, manufacturing, technology and health sectors (including both ASX50 and ASX200 companies).
The Brace168 team has advised that it is on track to achieve strong year-on-year growth in recurring revenues while the sales pipeline continues to build.
Expanding partner programs
Brace168 continues to augment its core managed services by expanding its partner program through relationships with Checkpoint, Skybox Security and Micro Focus and reseller relationships with Cisco, Juniper and Meraki, to name a few.
This has seen Cipherpoint commence the process of establishing an additional managed security service operation in Europe by leveraging its existing presence in Germany and capitalising on the strong desire for localised service providers in this market.
It plans to host its services within the scalable data centre space of Stackit, a member of the Schwarz Gruppe - one of Europe’s largest family-owned companies.
Following completion of the acquisition, CPT intends to expand the reach of Brace168 services.
XM Cyber agreement
Subsequent to signing the Brace168 sales and purchase agreement, Cipherpoint signed a strategic Reseller and Managed Services Security Provider Agreement with Israel-based attack-simulation platform provider XM Cyber solutions.
This agreement will enable CPT to offer XM Cyber solutions, which are intended to be offered through its proposed subsidiary Brace168.
XM Cyber’s ability to automate and systemise attack-simulation provides a unique and cost-effective approach to identify and mitigate security risks before they are exploited.
Attack-simulation is now a critical part of Enterprise cyber defences and is rapidly growing to be a billion-dollar market within the much larger cybersecurity market.