Cognosec AB (publ) (“Cognosec” or “The Company”), (Nasdaq: COGS), a leading supplier of cyber security solutions with operations in Europe, Africa and the Middle East, has signed an exclusive agreement with A-tek Distribution, a UK-based company specialising in the sale and digital distribution via innovative portal technologies of cyber security solutions, products and services.
The acquisition is in line with Cognosec’s strategy to expand business areas to cover the sale and distribution of software technologies over the internet.
This press release includes inside information of Cognosec AB (publ) (“Cognosec” or “The Company”) that has been subject to postponement of disclosure.
The disclosure of inside information was postponed on December 8, 2016 under Article 17 (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
Cognosec AB today announces the signing of Heads of Terms of Agreement pursuant to the acquisition of A-tek Distribution, which is expected to close in Q1, 2017 subject to legal, financial and technology due diligence exercises.
A-tek Distribution was founded in 2009, and is a United Kingdom registered company.
The transaction will include the acquisition of 100% of outstanding shares for a consideration of approximately €275,000 comprised of €44,000 cash and €231,000 Cognosec AB new issue shares.
The transaction will be completed by Cognosec AB subsidiary, Credence Security.
There will be no other impact on Cognosec AB’s balance sheet.
A-tek Distribution is a specialist Digital Software Distribution Business, distributing cyber security solutions by portal and established by pioneers of digital software distribution who between them, possess over 85 man years of digital software distribution.
A-tek is positioned as a New Age Distribution Business, enabling global access to the vast SME markets with Pay-as-you-Use and Software-as-a-Service cyber security solutions.
The technology platform provides significant scalability and global advantages through innovative distribution methodologies.
A-tek Distribution recorded revenues of EUR101 510 2 in FY2016 and EBITDA of EUR 48 5602.
The acquisition of A-tek improves Cognosec’s competitive advantage for both vendors and customers alike.
This addition also expands Credence Security’s current product portfolio to incorporate cyber security solutions for secure operation centers, network operation centers, datacenters, mobile platforms, virtualised environments as well as providing critical fraud prevention solutions into the technology, media, telecommunications, financial and public sectors.
Commenting on the acquisition of the business by Cognosec AB, Robert Hall, A-tek Distribution’s Co-founder, says that - “It will allow the Company to fast track the overview above, whilst working together with a globally recognised provider of cyber security excellence to secure additional distribution agreements giving our current and future partners tremendous platforms for future growth, productivity and profitability."
Robert Brown, CEO of Cognosec AB commented – “We are delighted to broaden and deepen our business in line with our strategies through the acquisition of A-tek, a highly respected and experienced team.
Through A-tek, Cognosec will be extending its customer base with the addition of web-based digital distribution portals covering existing and new segments of this growing market.
Cognosec recognises the expansion of distribution of cyber security software through innovative portal solutions providing products and services with a strong emphasis on the SME markets as our strategic focus."
The transaction will complete in GBP so the approximation is for the GBP:EUR exchange rates which were taken at mid-market on 23rd January 2017, 1GBP=1.158EUR.
A-tek Distribution Limited uses GBP as reporting currency.
The approximation is for GBP:EUR exchange rates which were taken at mid-market on 23rd January 2017, 1GBP=1.158EUR.
Mangold Fondkommission AB is the Company’s Certified Adviser.
Telephone: +46 (0)8 5030 1550
FOR FURTHER INFORMATION, PLEASE CONTACT:
IR-contact, Cognosec AB
Aidan Murphy / Matthew Watkins
PR contacts, Finn Partners
Call: +44 (0)20 3217 7060
This information is information that Cognosec AB is obliged to make public, pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above, on 24th January, 2017, at 15.00 CET.
Cognosec AB (publ) (Nasdaq: COGS) is engaged in the provision of cyber security solutions and conducts its operations through the Swedish parent company and through subsidiaries in South Africa, UK, Kenya, and the United Arab Emirates.
The Group delivers services and technology licences to enhance clients’ protection against unwanted intrusion and to prevent various forms of information theft.
The parent company is domiciled in Stockholm, Sweden.
Cognosec employs 110 people and had revenues of EUR 16.8 million in 2015. Please visit www.cognosec.se for more information.
Both entities felt slighted by Facebook, Twitter, and YouTube. In their 25-page civil complaint, the two anti-Muslim activists and their respective organizations made a ludicrous argument.
The groups claimed that as the country’s top cop, Lynch “enforces” Section 230 of the Communications Decency Act, a law that limits libel and other civil suits filed against websites, service providers, and other online publishers. However, the Communications Decency Act is a civil, rather than a criminal, statute. AFDI—which the Southern Poverty Law Center designated last year as an anti-Muslim hate group—is the same group that opposed the proposed Park51 Islamic center that was to be built two blocks from Ground Zero.
In 2013, the AFDI's co-founder, Pamela Geller and her fellow co-founder Robert Spencer (who also founded JihadWatch), were banned from entering the United Kingdom for their “extremist” views. Because their materials have been regularly removed from Facebook, Twitter, and YouTube, and because they have been threatened via those platforms, the plaintiffs collectively argue that the First Amendment Rights of their groups have been violated.
Therefore, the groups claim in their lawsuit, the target of the lawsuit is appropriately the attorney general. (Geller claimed publicly shortly after the suit was filed that she had, in fact, “sued Facebook.”) According to the Electronic Frontier Foundation, Section 230 has enabled all kinds of modern websites, including Craigslist, Yelp, Facebook, and more.
In short, relevant lawsuits should be brought against the relevant speakers or authors, rather than against the publishers. (Recently-filed Section 230-related lawsuits against Twitter and Facebook have yet to succeed.) Last week, lawyers representing the Department of Justice have asked a federal judge in Washington, DC, to throw out Geller and Spencer's lawsuit. Why? Because the government said that the AFDI has no standing to sue, as the United States has no control over what Facebook or any other company does. As Matthew Josephson, a DOJ attorney, wrote in the brief: Instead, Plaintiffs’ allegations make clear that they are aggrieved by the decisions of private third parties, whom the United States does not control and whose actions it cannot predict. Plaintiffs’ alleged injury is also not redressable by their requested relief. Plaintiffs request that the Court declare Section 230 to be unconstitutional and to enjoin the Attorney General from enforcing this provision.
But the Attorney General does not enforce Section 230 against private parties.
To the contrary, this provision merely provides an immunity that a private party can invoke as a defense in a private civil lawsuit.
Because the Attorney General does not enforce Section 230 against anyone, an injunction prohibiting such non-existent enforcement would be meaningless and would not redress Plaintiffs’ alleged injury. Paul Alan Levy, a well-known First Amendment lawyer who has litigated numerous Section 230 cases, dubbed this case to be simply “grandstanding.” “It’s fun to file complaints like this,” he told Ars. “It’s fun to file allegations. Presumably they get a bunch of publicity in a bunch of ‘alt-right’ media quarters. Maybe they raise money, but it’s not a valid claim.” AFDI’s attorney, David Yerushalmi, declined to respond to Ars’ questions—such as why the group had decided to sue Lynch rather than Facebook, Twitter, and YouTube. “We are preparing our response to the government’s motion,” Yerushalmi e-mailed. “Our answers will be in the response, and you can review [them] as you did the government’s filing.” He told Ars to expect this filing by Oct. 12.
This is the same site that already revealed e-mails from former Secretary of State Colin Powell, a Navy captain leading a weapons procurement program, and a public relations person who has done advance work for Hillary Clinton.
The latest victim did advance work for travel by First Lady Michelle Obama and Vice President Joe Biden.
Attributing the leak will be difficult because, as with previous "dumps" published on DCleaks, the compromised account's password information was widely available on the Internet from a previous data breach. An unnamed US intelligence official was quoted by NBC News as calling the leak of contractor Ian Mellul's e-mails "the most damaging compromise of the security of the president of the United States that I've seen in decades"—one caused by the use of an outside personal e-mail account for government business. The e-mails included full scans Mellul had forwarded to himself from a White House e-mail account of passports, including Michelle Obama's. Mellul likely forwarded the e-mails to his Gmail account because he couldn't access White House mail offsite without a secure device. Government sources have described DCleaks.com as being connected to Russian intelligence organizations.
But just about anyone could have gotten into Ian Mellul's e-mail if he was using the same password for his Gmail account that was exposed in a 2013 breach of Adobe user data—just as was Navy Captain Carl Pistole's.
The accounts of Powell and of Sarah Hamilton were both leaked as part of a 2012 breach of Dropbox's user data, according to data from HaveIBeenPwned. The earlier exposure of Mellul's account in the Adobe breach, combined with the rest of the accounts attacked and DCleaks.com's overall digital footprint, makes the attribution of the e-mail exposures much more difficult.
The DCleaks domain was registered through an Australian domain privacy service.
The site itself is hosted by a company in Malaysia and runs on WordPress using a commercial theme called "Stockholm," from the Australian design firm Envato—a fairly out-of-the-box site with its MySQL server ports left open to the Internet. Anyone with the time or money to sift through breached user data for targets connected to the US government could be behind the exposure of the e-mails.
And while DCleaks has particularly targeted Clinton, her husband former President Bill Clinton, the Clinton Foundation, and George Soros' Open Society Foundation in past document dumps—leading to suspicions that someone working on behalf of the Russian government was behind them—plenty of other, less sophisticated "cyber actors" out there might want to dump trash on Obama and Clinton.
As former US Assistant Attorney General Jack Goldsmith said in a panel on the Democratic National Committee breach earlier this week, "The number of actors who could do this are many, and our ability to defend against it is uncertain."
As well as understand how these organisations were leveraging IT to meet their enterprise demands and priorities as they face transformational challenges and opportunities. More than 36% of companies interviewed were planning or were early adopters of cloud. Collectively the survey involved international companies represented and headquartered in the USA, Europe and Africa with a combined revenue of more than €274bn.
The companies employ in excess of half a million people and operate more than 400 data centers. Asked about the intention to deploy IT assets geographically, respondents identified Ireland as the lead location among all European countries.
This was followed by the Netherlands, Germany and the UK respectively.
Bearing out evidence suggested in earlier research by BroadGroup, a requirement for data center facilities in Africa is now definitely emerging. Nordic markets also figured strongly in the geographic rankings of European locations. Among the current technology and business priorities respondents rated cloud and security as of foremost concern.
Companies were particularly focused on the improvement of the reliability and performance of cloud providing a flexible infrastructure. “The survey revealed a sustained appetite for international expansion of IT asset deployment across a number of verticals,” commented Philip Low, managing director of BroadGroup. “However the results also suggested that cloud and security are still regarded by many as part of the same concern, and that more than a third of enterprises interviewed are still in the early stages of cloud adoption.” BroadGroup will next host Datacloud Nordic in Stockholm on October 20 where international enterprises will be invited to assess markets in the region for colocation and new build investment together with data center tours across the region. About BroadGroupBroadGroup is an Information Media Technology and Professional Services company.
Established in 2002, BroadGroup achieved rapid recognition and growth through delivering quality research and insight in a number of niche and emerging areas of the telecommunications and technology sector.
Since founding, the Datacentre and Cloud practice has been the main focus of the company.
BroadGroup has now become the leading international research and consulting group in this area, through three business lines: consulting, market reports and events. http://www.broad-group.com/ Press contactJulia VockrodtSilja InghamVP Communications07792 949971