Narf Industries PLC Breakthrough Threat Intel Capability Accelerated

RNS Number : 7081M

Narf Industries PLC

01 May 2024

 

 

1 May 2024

Narf Industries plc

("Narf", the "Company", or the "Group")

 

Narf Accelerating Break-Through Threat Intelligence Capability

 

New threat intelligence tools to meet urgent worldwide software supply chain security risk.

 

Narf Industries plc (LSE: Narf), the cybersecurity group specialising in high-end threat intelligence and critical infrastructure security, is pleased to announce that it is accelerating work on cutting-edge capabilities shown to be uniquely effective in battling a new generation threat to the global open-source software supply chain.  

 

At the beginning of April, news emerged that a recent version of XZ Utils, a compression utility integrated into Linux distributions and other wide spread open source software, contained a backdoor that would have allowed hackers to access servers throughout the world. If distributed, the backdoor had massive damage potential allowing for customer data leaks and ransomware extortion schemes. Undetected by today's cybersecurity measures, the backdoor was discovered only by chance when a Microsoft employee was testing an application.

 

Narf presented this past week to key customers and industry partners that its new generation of threat intelligence tools, if deployed, would have significantly aided in discovering such an open source software attack. With development funded by $2.3 million in R&D contract awards from the Defense Advanced Research and Projects Agency ("DARPA") since April 2021, Narf is now accelerating this work for rapid deployment into government and commercial systems.

 

Steve Bassi, Narf President and CEO said, "We highlighted this work to investors in February as a top candidate in our R&D portfolio for commercialisation. In light of recent events and market demand, we are rapidly adjusting our resources and plans to address this most pressing cyber threat and maintain our multi-year head start leadership in this market."

 

Michael Locasto, VP Government Research and Development at Narf said: "DARPA selected our innovative social cyber approach and has re-invested multiple times over recent months given our demonstrable results.  We're presenting our findings in government circles and to strategic industry partners for rapid deployment of our capabilities against this extremely complex threat and its potential for widespread damage." 

 

John Herring, Executive Chairman at Narf said:  "These new threat intelligence tools place Narf as a pioneering force in the software development security market ("DevSecOps"), which was valued at $4.79 billion in 2022 and is projected to surge to $45.76 billion by 2031, growing at a CAGR of 28.5% over the period[1]. Further, two additional Narf initiatives in collaboration with government agencies converge within this domain to collectively lay the groundwork for a transformative SaaS platform opportunity."

 

To read more about XZ Utils visit https://bit.ly/3QpRRVF.

 

ENDS

 

For further information visit https://narfgroup.com/ or contact:

 

Narf Industries plc	John Herring	[e-mail]
Joint Broker Canaccord Genuity Limited	Simon Bridges Harry Rees	Tel: [phone]
Joint Broker Tennyson Securities plc	Peter Krens	Tel: [phone]
Financial PR, UK St Brides Partners	Paul Dulieu Isabel de Salis	[e-mail]

About NARF Industries plc

Narf Industries (LSE: NARF) is a US based leading provider of cybersecurity research, solutions, and services to government entities. With a steadfast commitment to protecting national security and critical infrastructure, it offers comprehensive expertise in addressing the evolving cyber threats faced by its clients.

 

 

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[1] Source: https://straitsresearch.com/report/devsecops-market

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