CyberRx Partnered with Wapack Labs to Strengthen Small & Medium Businesses Cyber Security

The strategic partnership will appear to be ground breaking for SMB’s, looking for affordable cybersecurity risk management solution

United States: CyberRx, a leading company offering cybersecurity solution, announced to enter in strategic partnership with Wapack Labs to strengthen and improve cyber security among Small & Medium Businesses (SMB’s).   

Wapack Labs offers solution such as early warning cyber threat detection, cyber threat intelligence and analysis for multiple organization. The SMB’s offering provided through collaboration would include software platform in one portal and outsourced services of both firms.

CyberRx and Wapack Labs together would launch the SMB’s offering at American Small Business Cybersecurity Xchange Spring Summit. Jeff Stutzman, Wapack Labs CEO quoted, “One of the reasons our partnership is timely is because many SMBs don’t have access to early warning cyber threat intelligence, so being able to combine our solution with CyberRx’s risk management platform now gives SMBs information on which they can act.” 

TechSci Research depicts that cyber security would play a vital role in Small & Medium Businesses as data theft and breaching of information is highly susceptible in these industries.  Small companies are increasing their spending manifold to counter cyber security threat as well as attacks.

According to a recent report published by TechSci Research, “Global Cyber Security Market By Security Type (Network Security, Content Security, etc.), By Solutions (Identity & Access Management, Risk & Compliance Management, etc.), By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Though the global cyber security market is highly fragmented, Symantec Corporation emerged as the largest player in 2015, followed by BAE Systems PLC, Intel Corporation and Cisco Systems. Banking, Financial Services and Insurance (BFSI); IT & Telecom; defense; energy & power; retail; and healthcare have emerged as the key application areas where cyber security solutions are being increasingly adopted.