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CYREN

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Cyren Ltd.
Company typePublic
Nasdaq: CYRN
TASE: CYRN
Russell Microcap Index component
IndustryIT Security
Software
Information Technology
Founded1991
Headquarters
U.S. Headquarters in McLean, VA
,
United States
Key people
Brett Jackson (CEO)
Mike Myshrall (CFO)
Richard Ford (CTO)
ProductsWeb security services
Email security services
Threat intelligence services
DNS security
Cloud sandboxing
RevenueIncrease US$ 35.9 million[1] (2018)
Number of employees
219
SubsidiariesCyren Inc., formerly known as Commtouch Inc. (Delaware)
Cyren Germany GmbH & Co KG formerly known as eleven Gesellschaft zur Entwicklung und Vermarktung von Netzwerktechnologien mbH (Germany)
Cyren GmbH (Germany)
Cyren UK Ltd (United Kingdom)
Cyren Iceland hf formerly known as Commtouch Icelandhf (Iceland)
Websitecyren.com

Cyren Ltd. is a cloud-based, Internet security technology company providing security as a service (SECaaS) and threat intelligence services to businesses. Services include email security, web security, DNS security, cloud sandboxing, inbound/outbound anti-spam services, real-time phishing detection and blocking, ransomware protection, URL filtering, IP reputation for email, malware attack detection, anti-malware and IP intelligence, botnet attack prevention, and cloud threat lookup. Cyren also provides endpoint protection, including anti-malware for mobile, URL filtering for mobile, and inbound/outbound Internet of Things (IoT) gateway protection. Major corporate clients using Cyren's services include Microsoft, Google, Check Point, Dell, T-Mobile, and Intel.

Cyren currently employs approximately 220 with headquarters in McLean, Virginia (USA) and offices in Herzliya (Israel), Berlin (Germany), Bracknell (UK) and Reykjavík (Iceland). Its common stock is listed on the NASDAQ Stock Exchange under the ticker symbol CYRN. In January 2019, Cyren announced that it was voluntarily delisting from the Tel Aviv Stock Exchange.[2]

Cyren is among the most well-funded cybersecurity firms in the Washington, DC metro area[3] according to a 2018 study. In 2018 Cyren made news for its research into phishing trends, particularly the prevalence of Microsoft Office, Office365, and Outlook as the brands most targeted by phishing kits.[4] In the same year, the firm provided primary support to the Icelandic police during their investigation of the largest cyberattack to hit the country.[5][6]

The company estimates that its security cloud currently processes more than 25 billion security transactions generated by over 1.3 billion users[7] in 180 countries to detect cyber threats as they emerge.

Company history

Cyren was incorporated as a private company under the laws of the State of Israel on February 10, 1991. In September 2010, the company acquired the Command Antivirus division of Authentium,[8] and in October 2012, completed the acquisition of the antivirus business FRISK Software International.[9] In November 2012, the company completed acquisition of Eleven GmbH,[10] which enabled the company to accelerate delivery of private label cloud-based security services, specifically designed for OEM and service provider markets. In January 2014, the company received shareholder approval to change its name from the original of “Commtouch” to Cyren Ltd.[11]

Technology

Cyren's cloud-based security services are delivered via two platforms: Cyren Cloud Security (CCS)[12] and Threat Intelligence Services (TIS). The CCS SaaS security platform is designed for enterprises and sold either directly or through channel partners. Services include Web Security, Email Security, DNS Security and Cloud Sandboxing. Cyren TIS offers cloud-based cyber threat detection application program interfaces (APIs), and software development kits (SDKs) to technology and security vendors, including Google and Microsoft. Cyren TIS services include Email Security, Web Security, Endpoint Security and Advanced Threat Protection. These platforms are powered by Cyren GlobalView™, Cyren's global security cloud that analyzes 25 billion security transactions each day to identify emerging threats in real time.

Recent announcements

In February 2019, Cyren announced the intent of Lior Samuelson, the Chief Executive Officer and Chairman of the Board, to step down as CEO.[13][14][15] On April 24, 2019, it was announced Brett Jackson would be taking on the role of CEO.[16]

In January 2019, Cyren announced that it would be voluntarily delisting from the Tel Aviv Stock Exchange (TASE)[17][18] in an effort to simplify regulatory filings and concentrate fragmented trading volume onto the Nasdaq exchange. The delisting is expected to become effective in April. Cyren will continue to maintain its headquarters in Herzliya, Israel and operate as an Israeli-registered company.

In July 2017, the private equity firm Warburg-Pincus announced it had acquired a 21.3% stake in Cyren for $US19.6 million.[19][20][21]

Awards

In 2018 and 2019, Cyren Email Security received a first-place gold award in the email security category in the Cybersecurity Excellence Awards, and placed at the top in the anti-malware category in 2017.[22]

See also

References

  1. ^ "Cyren Reports Fourth Quarter and Full Year 2018 Financial Results". ir.cyren.com.
  2. ^ "Cyren Announces Voluntary Delisting from the Tel Aviv Stock Exchange". Yahoo! Finance. PR Newswire. 10 January 2019.
  3. ^ Sabin, Sam (19 April 2018). "The 10 Top Funded Cybersecurity Companies in the D.C. Metro Area". DC Into.
  4. ^ Arghire, Ionut (21 December 2018). "Office 365, Outlook Credentials Most Targeted by Phishing Kits". Security Week.
  5. ^ Ilascu, Ionut (12 October 2018). "Largest Cyber Attack Against Iceland Driven by Complex Phishing Scheme". Bleeping Computer.
  6. ^ "Iceland hit by Biggest Cyber Attack on Record". PC Risk. 15 October 2018.
  7. ^ Yogesh, Bala (31 May 2018). "9 Pure Play Cybersecurity Stocks". Security Investing News.
  8. ^ "Commtouch to buy Authentium antivirus unit". Silicon Valley Business Journal. 27 July 2010.
  9. ^ Leyden, John (1 August 2012). "Commtouch gulps down Icelandic anti-virus pioneer FRISK". The Register.
  10. ^ "Commtouch Acquires eleven GmbH To Accelerate Launch Of Security-As-A-Service Solutions". Dark Reading. 19 November 2012.
  11. ^ Kovacs, Eduard (7 January 2014). "Commtouch Changes Its Name to CYREN". Softpedia News.
  12. ^ "Cyren Cloud Security Recognized in Cyber Defense Magazine's Annual Awards". Yahoo! Finance. 18 April 2018.
  13. ^ "Cyren (CYRN) Announces Chairman and CEO Lior Samuelson to Step Down After Transferring Responsibilities to Successor". Street Insider. 20 February 2019.
  14. ^ "Cyren Announces CEO Transition Plan". DC CityBizList. 20 February 2019.
  15. ^ ME Staff 8-k (20 February 2019). "Cyren Ltd. (NASDAQ:CYRN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers". Market Exclusive.{{cite news}}: CS1 maint: numeric names: authors list (link)
  16. ^ "Press Release | Cyren". ir.cyren.com. Retrieved 2019-10-20.
  17. ^ "Cyren Announces Voluntary Delisting from the Tel Aviv Stock Exchange". Yahoo! Finance. 10 January 2019.
  18. ^ "Cyren Announces Voluntary Delisting from the Tel Aviv Stock Exchange". Financial Content. 10 January 2019.
  19. ^ "BRIEF-Cyren announces strategic investment from Warburg Pincus Funds". Reuters. 6 November 2017.
  20. ^ "CYREN (CYRN) Announces Warburg Pincus Funds Acquired 10.6M Shares, or 21.3% Stake; May Raise Stake Up to 75%". Street Insider. 6 November 2017.
  21. ^ Reich, Dror (11 July 2017). "Warburg Pincus Buys Stake in Email Protection Company Cyren". CTech.
  22. ^ "Cyren Email Security Wins Top Honors In Cybersecurity Excellence Awards". MarketWatch. 25 February 2019.
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