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Pallas aims to grow its SMB target market throughout Germany
MCLEAN, Va., May 6, 2014 /PRNewswire/ -- CYREN (NASDAQ: CYRN), a leading provider of cloud-based security solutions, today announced that Pallas GmbH, a German managed security provider, will offer its customers the cloud-based CYREN WebSecurity solution as a private-labeled service.
The new reseller agreement expands upon Pallas' partnership with CYREN that began more than seven years ago through its deployment of security technologies offered by Commtouch, which was renamed to CYREN earlier this year. With CYREN WebSecurity, Pallas addresses the ever-growing Security as a Service (SecaaS) market that stands as a significant opportunity due to the fast pace of BYOD trends and the mobile nature of today's workforce.
"Having partnered with CYREN since 2006, we quickly identified the cloud-based CYREN WebSecurity service as a chance for us to more quickly serve the SecaaS market and grow our SMB business with a proven partner," said Stephan Sachweh, managing director at Pallas GmbH.
"CYREN WebSecurity is specifically designed to arm providers with easily integrated cloud technology that can exponentially grow their SMB SecaaS business," said Lior Samuelson, CEO and chairman of the board at CYREN. "Our expanded partnership with such a respected managed security provider such as Pallas underscores CYREN WebSecurity's ability to quickly address a fast-growing market by exploiting the low cost and high utility of cloud-based security services."
About CYREN WebSecurity
CYREN WebSecurity is a cloud-based Security as a Service (SecaaS) solution designed to provide powerful web security on any device, anywhere. CYREN offers white labeled versions to distributors, resellers and software vendors, allowing them to serve organizations currently exposed to potentially crippling Internet security risks. Delivering the low cost and high utility of cloud-based applications, CYREN WebSecurity is ideally suited to address explosive growth in the SecaaS market that is fueled by BYOD trends, an increasingly mobile workforce, and the management of information assets beyond the boundaries of traditionally secured network perimeters. Visit www.CYREN.com/web.
Pallas provides managed security services and advises its customers with regard to IT security. Pallas integrates and operates market-leading products from security suppliers. Our bandwidth of performance ranges from basic email protection up to managed operation of complete IT infrastructures. The Pallas managed security services are certified from German TUEV and approved in respect of German privacy protection. Pallas was founded in 1991, and is headquartered in Bruehl near Cologne, Germany. For more information see www.pallas.com or write information (at) pallas.com.
CYREN is a leading provider of cloud-based security solutions that deliver powerful protection through global data intelligence. Regardless of the device or its location, CYREN's easily deployed web, email, and anti-malware products deliver uncompromising protection in both embedded and Security as a Service (SecaaS) deployments. Organizations rely on CYREN's cloud-based threat detection and proactive security analytics to provide up-to-date spam classifications, URL categorization and malware detection services. The CYREN GlobalView™ Cloud Platform leverages Recurrent Pattern Detection™ technologies to protect more than 550 million users in 190 countries. CYREN is traded on the NASDAQ Capital Market and the Tel Aviv Stock Exchange (TASE) under the trading symbol "CYRN." Visit the CYREN GlobalView Security Center or go to www.CYREN.com.
This press release contains forward-looking statements, including projections about our business, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-looking statements. These statements are based on information available to us at the time of the press release; we assume no obligation to update any of them. The statements in this press release are not guarantees of future performance and actual results could differ materially from our current expectations as a result of numerous factors, including business conditions and growth or deterioration in the internet security market, technological developments, products offered by competitors, availability of qualified staff, and technological difficulties and resource constraints encountered in developing new products, as well as those risks described in the company's Annual Reports on Form 20-F and reports on Form 6-K, which are available through www.sec.gov.
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