StrikeForce Technologies, Inc. is to acquire Cybersecurity Risk Solutions LLC (CRS). The acquisition agreement is due to complete on or before April 16.
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.
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.
As an integrated solution, StrikeForce and CRS provide pre-breach cyber services and risk mitigation tools, which aim to 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.