Danny Maher (FirstWave)
Microsoft is gearing up to roll out technology provided by Australian cyber security player FirstWave Cloud Technology to an initial tranche of 20,000 internet of things (IoT) devices, with scope to scale the deployment up over time.
The rollout, expected to take place in the third quarter of 2022, is part of an agreement struck by network management, automation and IT audit software provider Opmantek to provide in-depth monitoring and alarming for all of Microsoft’s devices.
Although headquartered in San Francisco, Opmantek was founded in Queensland, with its development team primarily based on the Gold Coast.
FirstWave, which is publicly listed on the Australian Securities Exchange (ASX), acquired Opmantek late last year in a deal valued at $62 million, gaining its intellectual property, along with the deal it had struck with Microsoft before the acquisition.
Indeed, the Microsoft deal had been struck prior to November last year, when Opmantek first revealed it had received the acquisition offer from FirstWave.
It had also previously struck a deal with NASA to supply services aimed at helping alongside the Artemis program, which will see the landing of the first woman and first person of colour on to the moon.
With Opmantek’s secure IoT management product being integrated into FirstWave’s proprietary CyberCision Platform and rolled out initially to the North American market, the acquired company’s deal with Microsoft has also become a win for FirstWave.
Now, FirstWave has broken out the details of the Microsoft deal and subsequent rollout, telling shareholders that the agreement will see FirstWave deploy its proprietary technology across Microsoft’s IoT network, a move that is expected to enhance the tech giant’s security practices and increase its network visibility to manage cyber security risk and minimise outages.
For FirstWave CEO, Danny Maher, the Microsoft agreement demonstrates the vast potential in the IoT market.
“The massive number and variety of IoT devices connected to networks creates significant security vulnerabilities and management complexities for IT operations teams globally – even for the world’s largest technology companies,” Maher said.
“FirstWave’s proprietary CyberCision cyber security platform, combined with the intellectual property acquired from Opmantek, enables companies of all sizes to manage and secure their IoT environment, whether they have one device or millions.”
Maher, who was previously Opmantek's executive chairman, became CEO of FirstWave as a result of the acquisition, replacing Neil Pollock, who had resigned earlier in the year.
The deal saw FirstWave acquire 100 per cent of Opmantek via an all-scrip takeover under which approximately 691 million new FirstWave shares were issued to Opmantek’s shareholders.
FirstWave eyes global IoT market as Microsoft takes on local tech - ARNnet
Read More
No comments:
Post a Comment