Bangalore : iViZ Security, an IDG Ventures funded pioneering cloud-based “Web and Mobile Application Security Testing” provider, is getting acquired by Cigital Inc, a leader in software security services and solutions.
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Founded in 2006 by former IITians Bikash Barai (CEO) and Nilanjan De (CTO), iViZ Security is a pioneer in taking penetration testing or ethical hacking to the cloud and launching its proprietary Software-as-a-Service Platform’. The innovative, 60-people product company with several patents, has won numerous awards for its technology from organizations globally, some being – University of California-Berkeley, Intel, Red Herring, Nasscom etc. iViZ has around 500 customers worldwide with 70% revenue from USA and Europe. The company recorded a revenue growth of 57% last year and had achieved cashflow breakeven since late 2012. iViZ is planning to grow by 300% post the acquisition and aspiring to be one of the Top 3 players globally through this acquisition.
In today’s world where we frequently hear about the largest of the corporations getting hacked, imagine having a friendly hacker notifying you of your weaknesses before hackers can use them against you. iViZ’s disruptive “Cloud-based Penetration Testing” solution makes this possible by providing ethical hacking over the web anytime, anywhere, anyhow. Ethical hacking or formally, “Penetration Testing” is considered mandatory by government regulations, compliances like PCI, SOX, HIPAA, ISO-27001 etc. However, “Automated tools lack in quality and manual Penetration Testing is not just costly, but also impossible to scale since there aren’t enough humans on earth to test the billions of online and offline applications. At iViZ, our vision is to help organizations stay one step ahead of hackers by making penetration testing scalable and affordable through product innovations. We are very excited that the complementary technologies and market reach of Cigital shall help us to realize our dream” said Bikash Barai, CEO, iViZ.
Cigital plans to leverage iViZ’s proprietary cloud platform and its technologies to offer 3D Unlimited Application Security Testing, featuring unmatched flexibility across three dimensions: the number of tests, the depth of tests, and the number of applications tested. “The acquisition of iViZ enables Cigital to deliver the most flexible and scalable Dynamic Application Software Testing-as-a-Service in the market,” said John Wyatt, CEO, Cigital. “This capability is fully realized through the introduction of Cigital’s 3D Unlimited Application Security Testing, which profoundly alters the way organizations reduce risk at the application layer. The dynamic nature of the offering gives organizations real agility to respond to new threats, regulatory requirements, and constantly changing business pressures.” Sudhir Sethi , Founder & Chairman IDG Ventures India and Member IVIZ Board further added “I am pleased to have IVIZ find an excellent home in Cigital for its Patented technology, globally accepted by international and Indian customers and a great team led by Bikash and Nilanjan”.
The “3D Unlimited Application Security Testing” <add hyperlink to URL> will fundamentally change the way organizations manage and consume application security testing. The new offering enables Cigital customers to fluidly reallocate testing services as evolving threats and business requirements dictate without additional fees or licensing constraints. The unparalleled flexibility of the new offering mitigates buying risk and shall provide customers with a simple procurement process and a predictable expense. Organizations can now test across their application portfolio rather than focus on only those applications perceived to be high risk, eliminating potential exposure.
The “3D Unlimited Application Security Testing” is available immediately. Integration of the iViZ Security testing capabilities to the Cigital testing services is complete and the iViZ user portal has been incorporated to provide Cigital customers a web-based interface to schedule scans and view results. iViZ Security will operate as a wholly owned subsidiary of Cigital and will continue to drive alliances and partnerships globally. For more information about the acquisition
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