Strikeforce Stock Is Trading Higher On Acquiring Cybersecurity Risk Solutions For Undisclosed Sum
Cyber technology company Strikeforce Technologies Inc (OTC: SFOR) acquired cyber, privacy, and data protection solutions provider, Cybersecurity Risk Solutions LLC (CRS) to consolidate its channel distribution strategies and offer cost-effective cyber solutions to the marketplace for security risk mitigation.
The financial terms of the transaction were not disclosed.
CRS will continue to operate under the same name and will become a subsidiary of Strikeforce.
The FBI reported a 400% jump from the pre-COVID period to 4000 cyberattack complaints per day. Around 28% of breaches involved small business victims, bankrupting 60% of the victims within six months of the attack, according to Verizon Communications Inc (NYSE: VZ).
Strikeforce CEO Mark Kay will continue as CEO of the combined businesses. CRS CEO Will Lynch will become the Director of Channel Distribution.
Price action: SFOR shares traded higher by 11.6% at $0.1172 on the last check Thursday.
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