MCLEAN, Va., June 17, 2015 /PRNewswire/ -- CYREN (NASDAQ:
CYRN) today announced that it has been awarded a government grant
of NIS 3.6 million (approximately
USD 0.93 million) from the Office of
the Chief Scientist (OCS) at the Ministry of Economy of
Israel.
The grant will offset some R&D expenses for the period from
January 2015 through December 2015 and will support the research and
development of the Company's Cyber Threat Protection platform. This
grant is the largest initiative in the OCS-funded KIDMA
program.
The OCS awards grants to companies from various industries in
Israel to foster technology
innovation. Recipient selection is based on multiple criteria,
including the uniqueness of a company's technology, the importance
of the problems and potential market that it addresses, plus the
robustness of the company's business including financial position,
R&D capabilities and management experience. The KIDMA program
was formed by the OCS to identify and advance innovative Israeli
companies focused on the Cyber security industry.
"We are honored to be selected for funding by the Israeli
OCS-KIDMA program and we are grateful for its continued support.
This grant helps us to accelerate the development of our Cyber
Threat Protection service for advanced threats," stated
Lior Kohavi, Chief Technology
Officer of CYREN.
"CYREN previously focused the threat collection and analysis
capabilities of its global Cyber Intelligence platform on providing
the best protection available at the point of threat delivery in
the Cyber Kill Chain," continued Kohavi. "With this funding we can
expedite the launch of our Cyber Threat Protection service, which
builds upon our existing cloud-based Web security platform and
specifically addresses detection and remediation of advanced
threats that have already breached the security perimeter."
CYREN is also working with OCS on an additional project to
establish and lead a public non-profit Cyber consortium in
Israel. The consortium will assist Cyber startup companies by
giving them access to malware samples that have been collected by
the CYREN global Cyber Intelligence platform.
About CYREN
Founded in 1991, CYREN (NASDAQ and TASE: CYRN) is a long-time
innovator in cyber intelligence, offering next generation Security
as a Service solutions to enterprises and powering the security
solutions of more than 200 of the world's largest IT and security
technology providers. Providing real-time detection of cyber
attacks against many of the largest networks, CYREN maintains the
broadest and deepest real-time Internet threat database in the
world. Every day, CYREN collects and analyzes 17 billion pieces of
threat data to protect 600 million global users. Threat data is
gathered and Cyber Intelligence is disseminated through 500,000
global points of presence in 200 countries. Visit
www.cyren.com.
Blog: blog.cyren.com
Facebook: www.facebook.com/CyrenWeb
LinkedIn: www.linkedin.com/company/cyren
Twitter: twitter.com/CyrenInc
© 2015 CYREN Ltd. CYREN and GlobalView are trademarks of
CYREN Ltd. Other company and product names may be trademarks of
their respective owners.
U.S. Investor Contact:
Garth Russell
KCSA
212.896.1250
grussell@kcsa.com
IsraelInvestor Relations
Contact:
Iris
Lubitch
SmarTeam
+972.54.2528007
iris@smartteam.co.il
CYREN Company
Contact:
Mike Myshrall,
CFO
CYREN
703.760.3320
mike.myshrall@cyren.com
CYREN Media Contact:
Matthew Zintel
Zintel Public
Relations
281.444.1590
matthew.zintel@zintelpr.com
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SOURCE CYREN