SAN JOSE, Calif., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced the sale of its breakthrough ransomware reversal system to a city government in Florida. The city, which wished to remain anonymous, selected Nubeva as part of its cyber resilience and business continuity strategy specific to ransomware attacks.
“The use of Nubeva’s technology by this Florida city illustrates the rising need for—and recognition of—a proactive approach to ransomware threats,” said Steve Perkins, Nubeva CMO. “As we see in the news, local governments like Suffolk County, NY, and Fremont County, CO, are increasingly targeted by ransomware, and the stakes are especially high as their data affect public services and consumer safety. It is clear the public sector requires solutions to provide resilience from attacks, and Nubeva’s technology fills that void.”
Nubeva’s Ransomware Reversal solution equips the Florida city with ransom-less decryption protection at a time when cyberattacks have disrupted many sectors in the state of Florida, including hospitals, unemployment websites, and city government.
“The average downtime resulting from a ransomware attack is 24 days,” said Perkins. “What are the downstream effects if a key public service, such as the police force or emergency medical services, is down for 24 days or more? Organizations need the ability to quickly recover their data, systems, and operations after an attack—and Nubeva’s Ransomware Reversal solution provides that.”
Nubeva’s technology captures ransomware encryption keys at the moment of attack, enabling victim organizations to decrypt locked files without paying the ransom, typically within 48 hours of the attack. Additionally, Nubeva’s software collects vital metadata on the attack to aid in incident response, significantly aiding triage, investigations, and threat removal.
Nubeva’s software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. More details on Nubeva’s ransomware reversal and retrieval abilities are available here.
About Nubeva Technologies
Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so that businesses never pay ransoms again.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release, and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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Chief Marketing Officer, Nubeva