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The group will pay Allot a monthly fee based on the number of users of their CSPs’ cybersecurity services.
Hod Hasharon, Israel, July 08, 2021 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security-as-a-service (SECaaS) solutions for communication service providers (CSPs) and enterprises, today announced that a Tier 1 communications group headquartered in Europe, with operating units in the EU and North America, has signed an agreement with Allot to enable their operating units to offer cybersecurity services to their consumer and small and medium-sized business (SMB) customers based on Allot’s HomeSecure, BusinessSecure, and an endpoint security application. The engagement between Allot and the group is based on a recurring monthly fee derived from the actual number of subscribers using the cyber security solution.
Allot HomeSecure provides security for home IoT, smart appliances, and the devices connected to the home network. It integrates into the existing home router with the addition of a thin software client that provides home network visibility, cybersecurity and parental controls without the need for any configuration by the consumer. Allot HomeSecure uses AI to identify and profile connected home devices and to detect and act upon anomalous device behavior.
Allot BusinessSecure provides security for the devices connected to the business network including IoT and smart appliances. It provides network visibility, cybersecurity and content controls. The solution also protects the router itself from security vulnerabilities, using password strength enforcement, port analysis and protection, and unauthorized access controls.
“We are looking forward to building a strong partnership with the communications group and to supporting them throughout this journey by sharing our experience in providing and selling security services to consumer and SMB customers,” said Assaf Eyal, SVP Global Sales at Allot.
Each operating unit in the group may decide independently to launch cybersecurity services based on Allot Secure solutions. The initial launch will be in one of the EU operational units.
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Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-based security as a service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers Globally.
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This release contains forward-looking statements, which express the current beliefs and expectations of company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: acceptance of our products by our reseller and customer in EMEA, our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors, government regulation; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on third-party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
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