Nerds On Site Inc (CSE:NERD, OTCQB:NOSUF) has updated its stakeholders on the recent progress of its SME-Edge solution launch and plans to expand operations in the US.
Following the marketing initiative Cyber-Security Snapshot announced in December 2021, the company said it has rolled out the second stage of the campaign, providing the SME-Edge solution to targeted small-to-medium enterprise (SME) clients.
The company's SME-Edge is its comprehensive cyber-security solution that includes a fully managed network and internet traffic gateway, featuring zero-trust capabilities.
READ: Nerds On Site sees second-quarter revenue of C$2.2M as it eyes US expansion
The self-contained cabinet can be easily configured to work with a client's existing IT infrastructure and includes patented cyber-security protection that prevents information-leaking incidents caused by data breaches. The unique solution has been increasingly adopted by the SME community, with millions of client devices being protected.
Nerds On Site said it expects to significantly increase the number of installed SME-Edge packages.
US business expansion
Meanwhile, the company said it has been expanding its business operation to the massive US market through pursuing merger and acquisition opportunities. It has identified potential M&A targets this past fiscal year and is working through required due diligence processes. The company's business model is based on sub-contracts in Canada and a franchise model for US expansion.
Potential targets must share cultural and client treatment synergies with the company, which is also focused on targets that will increase its customer base and provide cyber-security upgrading opportunities.
"According to the Cost of a Data Breach Report in 2021 by IBM, there was a $1.76M cost difference in breaches where a zero-trust approach was deployed versus undeployed. That alarming number is concrete evidence NERD is on the right track to provide unique and advanced solutions to combat cyber-criminals,” said Charlie Regan, co-founder and CEO of Nerds on Site, in a statement.
“We are confident that 2022 will be a breakthrough year for the Company with a number of achievements expected," he added.
In other news, the company said since its initial public offering in 2018, management and board members have been consistently acquiring shares through the open market or private placements. The total holding of insiders is approximately 55% of the company's outstanding shares.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham