Triple whammy for cyber security specialist Darktrace
Cambridge cyber security company Darktrace has clinched a lucrative deal with an unnamed European automotive giant, announced a £30 million share buyback, and also a deal with Sir Robert McAlpine – all in a matter of days.
Sir Robert McAlpine, has adopted Darktrace’s Self-Learning AI technology to bolster its cyber defenses. Sir Robert McAlpine has over 2,000 employees, and operational hubs across the country. The company was facing a growing threat from sophisticated phishing attacks that targeted the company on a near daily basis.
Many of these advanced email attacks often purport to be from trusted third parties, such as suppliers. To guard against these threats, Sir Robert McAlpine deployed Antigena Email, which uses Self-Learning AI to learn the ‘pattern of life’ for every user in an organisation.
By understanding the human behind the email, rather than relying on historic data from known threats, Antigena Email claims to precisely identify and stop never-before-seen malicious email activity – before it reaches the user. Sir Robert McAlpine says, that on average, Darktrace technology successfully interrupts 18,000 email threats per month at the company.
Meanwhile, one of Europe’s largest automotive technology and electronics companies has chosen Darktrace’s Cyber AI technology. Following a competitive assessment of solutions in the cyber security marketplace, the company decided to adopt Darktrace’s detect, investigate and respond products, including its ‘autonomous response’ product Darktrace Antigena, and its Industrial Immune System technology, which covers Operational Technology environments.
The AI technology, which will help protect well over 50,000 devices from a range of digital threats, will be deployed across countries in Europe, the Americas and Asia.
Darktrace recently announced plans to begin a share buyback programme as it allocates up to £30 million to the scheme.
The Cambridge-based FTSE 100 constituent has started the buyback programme of up to four million shares to be completed by December 31, 2022. Darktrace said the reason behind the decision was to satisfy “pre-existing obligations arising from its share incentive programmes.”
Global technology companies are increasingly relying on Darktrace’s Cyber AI to defend themselves in this new era of pervasive and sophisticated cyber-threats, given its unique ability to identify novel threats, and contain them autonomously, across the digital estate.
Darktrace AI stops ransomware on average within one second, and foils an attack somewhere in the world every minute.
Earlier this year, one of the largest technology companies in the world signed a multi-million-dollar upsell that saw the deployment of Darktrace AI expanded to cover the email systems of tens of thousands of employees.
“The technology and electronics sectors are significant targets for sophisticated attackers today, whether their motivation is financial gain, IP theft or operational disruption,” said Poppy Gustafsson CEO of Darktrace.
“I am delighted to welcome more market leaders to the Darktrace customer community as we continue to use the power of Cyber AI to counter novel, aggressive cyber-threats, across the entire digital enterprise – from Operational Technologies through to our email inboxes.”
Darktrace plans to expand its AI-powered security offerings to include attack prevention by the end of 2021, the company has told VentureBeat.
Upcoming product updates will expand the Darktrace portfolio to include proactive security AI capabilities, joining the company’s detection and response technologies, VentureBeat reports.