Osirium Technologies Share Discussion Threads

[hedgehog 100] 11/11/2021 11:20

Darktrace@Darktrace
"Every second, Darktrace interrupts a cyber-attack. From email and cloud to industrial networks, self-learning AI is resilient in the face of increasingly sophisticated threats. ..."



Interrupting a cyber-attack every second is impressive.

But it would be even more impressive if Darktrace interrupted an attack WITHIN a second, as opposed to seconds - plural.
Computers work so quickly that seconds can actually be a relatively long time.

Still, the tweeted 'every second' statistic does bring home the sheer frequency of cyber-attacks, and of the compelling need to employ top-quality PAM like OSI's.

[hedgehog 100] 11/11/2021 10:48

"World leaders in Autonomous Cyber AI

Darktrace AI interrupts in-progress cyber-attacks in seconds, including ransomware, email phishing, and threats to cloud environments and critical infrastructure. ..."




DARK's software can interrupt a cyber attack in seconds, but in that time a lot of damage can already have been done.

Osirium's PAM though can stop a cyber attack occurring in the first place.

And moreover, PAM is increasingly being regarded as a necessity:


"What is Privileged Access Management?

... Good PAM is not optional. Every organization is subject to regulation, such as GDPR, PCI DSS or Sarbanes-Oxley. They often need to implement best practices such as Cyber Essentials or ISO 27001 to improve customer service and reduce risk.

Every one of those standards has a requirement to manage privileged access. Osirium has several whitepapers to show how PAM is relevant to ISO270001, Cyber Essentials and Digital Security and Protection in the NHS.

For all these reasons, PAM is not an optional purchase. The decision for the company is how to acquire and implement the best PAM for their organization in the most cost-effective and business-enhancing manner possible. ...

Privileged access represents a significant security risk for every organization, and privileged access management (PAM) is a discipline that must be considered a core part of every security program.” – Gartner, “Buyers’ Guide for Privileged Access Management”"

‍

[hedgehog 100] 11/11/2021 10:13

"Could Darktrace shares rapidly rebound after today's 5% drop?

As the AI cybersecurity firm’s 180-day lock-up period ends, one of its largest shareholders, Deep Defence, has sold a third of its holdings totalling 11 million shares. And there could be more to follow.

Charles Archer | Financial Writer, London | Publication date: Wednesday 03 November 2021 14:20

Darktrace (LON: DARK) shares have been volatile since the company’s IPO on 30 April. Originally offered at 250p each, strong investor demand saw the Darktrace share price surge 294% to a high of 985p by 23 September. But over the past fortnight, Darktrace shares have fallen by more than a third to 600p today.

The company’s current £4.2 billion market cap means that it’s still worth more than double its initial IPO price. However, with the lock-up period now concluded, there might be further falls to come.

Darktrace investors

It’s not just the end of the lock-up period that’s hurt the Darktrace share price. On 25 October, an analyst note entitled ‘Reality Check’ from Peel Hunt said that there was a ‘disconnect between the valuation and the ultimate retail opportunity’ of the company. Worryingly, it said that some customers of the AI cybersecurity firm had described its technology as ‘snake oil.’ It downgraded Darktrace to a sell position and gave it a target price of 473p. Coming just two days before entering the FTSE 100, the note kickstarted a rapid share price decline. ..."




"How long does a computer virus takes to infect a computer?

20th November 2017

... • Ransomware, for instance, will start encrypting files within seconds of downloading onto your computer. A test carried out on different types of ransomware revealed that 1,000 Word documents were encrypted from between 18 seconds to 16 minutes. ...

• A virus can also be downloaded via an email attachment and it may start working immediately shutting down your computer. ..."

[1happydays] 11/11/2021 08:21

Webinar: Reducing IT Risk and Effort with AD Automation (ITHealth and Osirium)


might watch if get chance - 2nd Dec.

[hedgehog 100] 10/11/2021 18:34

"McAfee's $14B+ takeover notches largest public-to-private deal this year

By Ryan Prete
November 8, 2021

An investor group including Advent International has agreed to take security software company McAfee private for over $14 billion, accounting for the largest public-to-private transaction this year. ..."

[hedgehog 100] 08/11/2021 12:10

Very significant news today about OSI's international expansion success.
The company is clearly going global.
And this clearly highlights the strength of OSI's offering, and its filling of a market need.

OSI won its first customer in North America in 2018:

08/05/2019 07:00 UK Regulatory (RNS & others) Osirium Technologies PLC Final Results LSE:OSI Osirium Technologies Plc
" ... -- Strong lead generation and presence at major industry events - first customer win in North America ..."


And interestingly, in February OSI registered a new patent in the USA ... which bodes well for its continued expansion into America:

01/02/2021 07:00 RNS Non-Regulatory Osirium Technologies PLC New Patent Granted LSE:OSI Osirium Technologies Plc
"Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce it has been granted a new patent in the field of authentication services by the US Patent and Trade Mark office.
... The patent builds on Osirium's track record of innovation in privileged access, including a series of patents previously granted for credential management.
David Guyatt, Chief Executive Officer, commented : "Our continuing commitment to innovation has been a key factor in our success over the years. Our customers value it as it gives them new ways to address increasing security challenges, and our partners look for it, as it gives them compelling competitive differentiators.""

[hedgehog 100] 08/11/2021 10:37

08/11/2021 07:00 RNSNON Osirium Technologies PLC Channel Partner and Marketing Update

Growth in channel partners and geographies

Osirium Technologies plc (AIM: OSI), a leading vendor of cloud-based cybersecurity software, today provides an update on its channel partner network and digital marketing strategy.

The Group is pleased to announce contract wins in new territories including its first deals in the Netherlands, Ireland and Singapore, achieved through Osirium's channel partner network. These contracts underline the Group's 'land and expand' strategy which focuses on increasing contract values and device numbers following initial engagement.

Osirium now has over 30 active partners across the UK and internationally, with a growing interest in new geographies including North America and South Asia. As a result, management expects the number of sales generated through these channels will increase in line with the growth in awareness of, and demand for, Privileged Access Security.

With a reduction in the number of large trade shows typically seen before the pandemic, Osirium's pivot to digital marketing and virtual events has increased in traction and continues to drive new business in conjunction with its indirect sales arm. The Group is pleased to report it reached the total number of leads generated in 2020 by the end of September 2021 and has stepped up the automation of information campaigns via email.

With a strengthening sales channel domestically and internationally, along with continued new business momentum in line with the Group's strategy, the Board remain confident in the Osirium's growth prospects.

David Guyatt, CEO of Osirium, commented:

"The indirect sales arm facilitated by our channel partner network represents a core element of our strategy, enabling us to access a wide range of geographies and scale further. Alongside this, our digital marketing strategy continues to accelerate and generate new leads.

Importantly, our 'land and expand' strategy facilitates increased engagement with these new customers and provides the solid foundations for significant contracts."

[hedgehog 100] 07/11/2021 12:29

Thanks to Draft on the LSE OSI board for flagging up this useful article yesterday:

"Soaring cost of cyber protection lifts commercial insurers

Beazley and Hiscox report further rises for cover to counter threat of ransomware attacks

Ian Smith, Insurance Correspondent NOVEMBER 5 2021

... While the growth rate in many lines of business is slowing, cyber is bucking the trend. Cyber insurance prices nearly doubled year on year in the US during the period, and rose 73 per cent in the UK.

... There has been a flurry of corrective actions by traditional insurers this year to try and cap their cyber exposure following a wave of ransomware attacks that has driven up both the frequency and severity of claims. Some have introduced limits on coverage, or demanded that clients have basic security measures in place before they can be offered a policy. ..."

[hedgehog 100] 06/11/2021 19:29

"Help Net Security
November 3, 2021

Ransomware attacks increased 148% in Q3 2021, showing no sign of slowing

SonicWall recorded a 148% increase in global ransomware attacks through the third quarter (Q3) of 2021. With 470 million ransomware attacks logged by the company this year to date, 2021 will be the most costly and dangerous year on record.

... “As we see it, ransomware is on a nearly unimaginable upward trend, which poses a major risk to businesses, service providers, governments and everyday citizens,” said SonicWall President and CEO Bill Conner.

“The real-world damage caused by these attacks is beyond anecdotal at this point. It’s a serious national and global problem that has already taken a toll on businesses and governments everywhere. I’m hopeful that the recent global ransomware summit is the next step toward a greater response at global, national and state levels.”

Ransomware rise not slowing in Q3 2021

2021 has been the most active year for ransomware on record — and is showing no sign of slowing. After posting a groundbreaking high in June (78.4 million), these malicious attacks continue to see aggressive growth in Q3.

... “While the world has been attempting to return to normal in a stop-and-go fashion, cybercriminals have never let up, driving ransomware campaigns to record numbers through the first three quarters of 2021,” said Conner. “These criminal organizations will continue to launch highly sophisticated cyberattacks that are designed to target organizations and business with weak or lax security controls.” ...

“As long as organizations continue to overlook or fail to implement cybersecurity best practices to reduce their attack surface, ransomware groups will only increase investments in time, resources and money for launching campaigns that result in massive payouts,” said Ayrapetov."

[hedgehog 100] 05/11/2021 10:53

"NEXT COURSE DATES
17th & 18th November 2021
19th & 20th January 2022
16th & 17th February 2022
23rd & 24th March 2022
27th & 28th April 2022
18th & 19th May 2022"


Thanks H.D.

The fact that the courses are running every month suggests a very healthy level of interest - & of sales.

And you would think there would also be a very healthy level of takeover interest in OSI, at its current depressed share price of just 19p.

Sometimes when a company has been relatively quiet, as OSI has been recently re. RNSes & tweeting, that can be a sign of a takeover approach.

But either way, the company is looking well undervalued at its current level, and with an extremely bright future.

[1happydays] 05/11/2021 07:38

Osirium running some courses for System Administrators, System Engineer and DevOps who will be responsible for managing the day to day running of Osirium PAM components and providing users with privileged access to devices.

Good break down of the Osiruim PAM product when you look at the syllabus.

[hedgehog 100] 30/10/2021 20:23

20/10/2021 07:00 UKREG ActiveOps PLC Trading Update and Notice of Results
"ActiveOps plc (AIM: AOM), a leading provider of Management Process Automation (MPA) software for running complex and global back-offices, is pleased to provide an update on trading for the six months ended 30 September 2021.
The Group has delivered a strong performance in the first half of the year, evidencing the continued success of its Land and Expand growth strategy. The Group expects to report revenue growth of approximately 22% (H1 FY21: GBP9.4m), in line with Board expectations, and a stronger than expected profit performance, of approximately breakeven at the adjusted EBITDA level, reflecting reduced travel costs as a result of the pandemic and the timing of the increased investment in staffing. The Group has exited the period with an Annual Recurring Revenue of GBP19.8m (FY21: GBP18.3m, Sept 20, GBP17.1m). ..."



It's encouraging to see that AOM, which like OSI provides automation software, and which like OSI has a 'land and expand' growth strategy', has had a good six months to the end of September.

AOM has a current market cap. of £128.38 million, at 180p.


"What is Osirium Automation?

Osirium Automation is a unique solution for automating IT and business processes that traditionally require expert skills.
‍
Its flexibility comes from the open, secure Privileged Process Automation (PPA) framework to automate workflows across systems via API, REST, SSH, or command lines.
‍
By hiding the complexity and need for specialist technical knowledge, processes can now be securely delegated and accelerated.

Faster. Cheaper. More secure."

[hedgehog 100] 30/10/2021 12:05

Cybersecurity has gained even more impetus since the pandemic -

"Wednesday 27 October 2021 7:20 am
Softline to launch $1.5bn London IPO amid cybersecurity frenzy
... When businesses went virtual amid a raft of Covid-19 restrictions worldwide, many realised their cybersecurity was not where it needed to be to handle the transition – which has pushed many to upgrade their digital defences."


And OSI is ideally placed to benefit from this.

[hedgehog 100] 29/10/2021 16:47

"29 OCTOBER 2021

MSPs and Ransomware - the weakest link

Mark Warren

The Risk of Supply Chain Ransomware

It's an old proverb, but "a chain is as strong as its weakest link" still holds very true, especially when considering the possible ways an attacker can infect an organisation.

Quite rightly, much attention has been paid to the risks of unwitting staff being the victims of increasingly complex phishing attacks. It's too easy to dupe someone to click an unsafe link or install an infected piece of software. There are many ways to defend against that weakness, including better training and software the limits the risk of installing malware.

MSPs are a prime target

But an increasingly rich vein of attack opportunities is the IT supply chain. That's a wide-ranging and complex set of potential attack vectors. For example, it may include the organisation's HR system supplier, the managers of their air conditioning, the host of their web server, and hundreds of other suppliers and partners involved in a modern business.
For good business reasons, it's attractive to let external partners provide these specialists systems and services, so it's a fast-growing pattern for most IT teams to outsource systems that used to run on-premises.

But, that growing dependency is also increasing the risk of attack.

Managed Service Providers (MSPs) are a rich target for attackers. It's just a question of economics: if they can infect one MSP, then all that MSP's customers become victims of the attack without more effort. Attacks via an MSP isn't a theoretical risk; here's a recent example of how the group behind the Solarwinds attack are shifting their focus towards MSPs.

"This recent activity is another indicator that Russia is trying to gain long-term, systematic access to a variety of points in the technology supply chain and [to] establish a mechanism for surveilling -- now or in the future -- targets of interest to the Russian government" - Microsoft.

Recently, Andy Harris wrote about this risk of the "buffalo jump" waterfall effect of an attack on an MSP.

How Prepared are IT Teams?

To understand the situation better, Osirium commissioned independent research to gather data which you can download in this free executive summary: "The Ransomware Index - Supplier Risk."

The research shows that IT teams understand the risks to some degree but aren't yet doing enough to formalise their suppliers' protection requirements.

Encouragingly, some fundamental protection can make a big difference. Crucially, access to the MSP's systems needs protection using access management. Privileged Access Management (PAM) ensures only the right people have access to those systems such as client management systems, remote access servers, databases and much more. You can find out how here.

‍For MSPs, the research shows that ransomware protection is a hot topic for their clients, so they should take more action to improve that service. It can also be a competitive differentiation in a fast-growing market.

If you'd like to know more, please get in touch.

The first part of the Ransomware Index focused on protecting backups to minimise damage from an attack and be ready to recover when an attack happens. That report is still available here."

[hedgehog 100] 28/10/2021 16:54

Passwords are a risk area for ransomware attacks -

"Cybersecurity
Hackers Breached Colonial Pipeline Using Compromised Password
By William Turton and Kartikay Mehrotra
4 June 2021, 20:58 BST"



And Osirium’s privileged access management solution, Osirium PAM, can help -

"23 OCTOBER 2015

Separating people from passwords

Andy Harris

... Rigorous passwords policies are creating the exact opposite of their intended outcome ...

The solution: separate people from passwords

Having read the above, you may be thinking you can’t trust your staff with passwords at all, but the vast majority of your users will use online banking. You can be sure that where their own money is concerned they chose strong passwords.

The banking systems do not ask for password changes every 30 days, yet historically, banking systems have proven secure. Online banking authentications systems use a second factor of authentication. The key point here is that banking systems seek to prove identity. Identity is the real key to security. In the corporate world, we really need to know who did what, where and when.

Identity is the real key to security. In the corporate world, we really need to know who did what, where and when.

Osirium’s privileged access management solution, Osirium PAM, works on the principle of separating people from passwords. Users still keep their personal passwords, and identity can be enhanced by two-factor authentication. Profiles then map identities into specific roles on specific devices, applications or systems. This means that your users can reach the systems that they need to, but they can get no further. Now users cannot use a connection to one system to jump to another.

Using this approach creates real accountability. Whereas before you could have a situation where a team of people could all use a shared password to systems, now you have identities having sessions on systems. This provides businesses with the ability to know who did what, and when, meaning there’s nowhere to hide wrongdoings.

This simple approach to managing privileged accounts provides a wealth of security and significantly reduces your companies attack surface, by taking the passwords you want to protect most out of the hands of your staff.

If you’d like to find out more about the PxM Platform, Contact us."




And interestingly, a US startup that's also addressing the password risk threat was this summer valued at billions of dollars -

"Transmit Security raises $543M Series A to kill off the password

Carly Page@carlypage_ / 11:00 AM GMT+1•June 22, 2021

Transmit Security, a Boston-based startup that’s on a mission to rid the world of passwords, has raised a massive $543 million in Series A funding.

The funding round, said to be the largest Series A investment in cybersecurity history and one of the highest valuations for a bootstrapped company, was led by Insight Partners and General Atlantic, with additional investment from Cyberstarts, Geodesic, SYN Ventures, Vintage and Artisanal Ventures.

Transmit Security said it has a pre-money valuation of $2.2 billion, and will use the new funds to expand its reach and investing in key global areas to grow the organization.

Ultimately, however, the funding round will help the company to accelerate its mission to help the world go passwordless. Organizations lose millions of dollars every year due to “inherently unsafe” password-based authentication, according to the startup; not only do weak passwords account for more than 80% of all data breaches, but the average help desk labor cost to reset a single password stands at more than $70. ..."

[hedgehog 100] 28/10/2021 13:58

Chancellor Rishi Sunak's Budget yesterday awarded £2.1 billion for NHS technology upgrades, including improving cybersecurity.

It was a budget for a "post-COVID economy", buoyed by a stronger than expected economic recovery, and with a focus on the public sector.

All good news for OSI.

There was also an extra £750 million to improve government cybersecurity.


"Government commits millions to security investment

Spending Review adds more than £750m of funding to improve cyber security resilience across government

By Alex Scroxton, Security Editor Published: 27 Oct 2021 14:47

Westminster has committed to ploughing millions of pounds into cyber security in government in the shape of investments in the National Cyber Security Programme and in central and local government bodies, as the UK’s public sector comes under high and sustained volumes of cyber attacks.

The sums announced today in the 2021 Spending Review and Autumn Budget total over £750m and form part of a total investment of £2.6bn in cyber and legacy IT during the period of the Spending Review – most of which will be spent on improving the government’s own cyber security. It comes on top of already-agreed funding for the National Cyber Force, which is currently being stood up.

Prominently, the Spending Review provides for a £114m increase in the UK’s National Cyber Security Programme, which the government says will enable the UK to adapt, innovate and invest to maintain and extend its competitive edge as a “responsible, democratic” cyber power on the world stage. It comes ahead of the next iteration of the National Cyber Security Strategy, which is expected soon. ..."

[hedgehog 100] 23/10/2021 19:25

From yesterday's closing list -

"LSE % Gainers Top Lists
EPIC Name %
IRON Ironveld +52%
STAR Starcom +32%"


Thanks H.D. - well done to you too on IRON.

IRON & STAR both illustrate the declining art of patient value investing.

Do you research, identify an undervalued share, and if your original reasons for investing are still valid, stick with it.

With both IRON and STAR I was sitting on significant paper losses of thousands at one point, but they've both now turned into even larger paper gains.

But it tends to take news, which both IRON & STAR RNSed yesterday.

OSI is due some ... maybe it is saving it up!

[1happydays] 23/10/2021 15:53

Congrats hedge mate, also in IRON. Had been in out of STAR but missed the rise this time.

Hopefully tiddlers in comparison to here though when it finally starts getting some traction.

[hedgehog 100] 22/10/2021 11:25

"LSE % Gainers Top Lists
EPIC Name %
IRON Ironveld +35%
STAR Starcom +24%"

A lovely day for me today: two of my largest holdings at numbers one and two on the top risers list.

Come on OSI, it's your turn next!

[hedgehog 100] 21/10/2021 17:11

"BrokerFest 2021: Sustained period of cyber market hardening must be fully understood

bu Clare Ruel | 21 October 2021

Ransomware demand ’is 20 times more than what we saw in 2018’, says MGA’s head of cyber ..."




So the cost of ransomware attacks for cyber insurers has gone up ten-fold.

With a knock-on effect on insurance premiums.

If premiums are seen as unaffordable by SME's, this could hasten the adoption of OSI's solutions.

And some insurers may even stop provision. Or at least insist on proper protection, such as OSI's ... or perhaps offering discounts when this is adopted.

In which case a relationship between OSI and cyber insurance companies could make good sense for both sides.

[hedgehog 100] 20/10/2021 18:49

"Global Ransomware Damage Costs Predicted To Reach $20 Billion (USD) By 2021

Ransomware is expected to attack a business every 11 seconds by the end of 2021

– Steve Morgan, Editor-in-Chief

Northport, N.Y. – Oct. 21, 2019

Ransomware — a malware that infects computers (and mobile devices) and restricts their access to files, often threatening permanent data destruction unless a ransom is paid — has reached epidemic proportions globally and is the “go-to method of attack” for cybercriminals.

A 2017 report from Cybersecurity Ventures predicted ransomware damages would cost the world $5 billion in 2017, up from $325 million in 2015 — a 15X increase in just two years. The damages for 2018 were predicted to reach $8 billion, and for 2019 the figure is $11.5 billion.

The latest prediction is that global ransomware damage costs will reach $20 billion by 2021 – which is 57X more than it was in 2015. This makes ransomware the fastest growing type of cybercrime.

The 2015 to 2019 ransomware damage cost predictions have been corroborated by media outlets, academia, industry experts, numerous cybersecurity firms, and cybercrime fighters globally.

“Ransomware attacks are in the process of morphing from spray-and-pray phishing blasts to highly targeted and extremely damaging network-wide infections that can cause days or weeks of downtime for a whole organization,” says Stu Sjouwerman, founder and CEO at KnowBe4, a company that specializes in training employees on how to detect and respond to ransomware attacks. “It is an unfortunate fact of life that ransomware is here to stay and that traditional software-based endpoint protection is not able to protect well against this type of malware.” ..."




The plague of ransomware attacks means that protection against it should be viewed as essential - a necessity.

And for essential services such as healthcare etc. this importance is even more critical.

While for investors, investing in a company that provides something essential is highly desirable ... especially when the global pandemic has constrained the budgets of many companies.

Step forward OSI: the right solution at the right time, for both businesses and investors.


"PAM for Essential Services
It's critical that essential services such as healthcare, transport and energy protect their systems against cyber attack. There are specific requirements included in the regulations for national infrastructure. Many of which can be addressed with good privileged access management (PAM).This webinar by Osirium with RazorSecure reviews those requirements and demonstrates how PAM can be used to complete assessments."

[hedgehog 100] 19/10/2021 15:00

Thanks GS.

I expected that there have been a few interested suitors 'sniffing around' OSI already ... and now looks like an ideal time to pounce.


And thanks again HD.

OSI has an office in the region, in Dubai (where EMT also has an office), so obviously sees the Middle East as an important area for expansion.

It's also encouraging to see OSI combining with one of their partners (i.e. EMT) at attending this exhibition.
It suggests that OSI has a very good working relationship with its partners, and takes a proactive role in facilitating the reselling of OSI's solutions.
And the two companies will be able to share costs for this exhibition, which is further evidence that OSI runs a tight ship, making every penny count.


"EMT Distribution is a worldwide technology distribution firm focusing on information security, consulting services, network management and technology education. Resellers see emt Distribution as a preferred distributor of choice due to their expertise in product sales, implementation,services and support. With over 30 years of experience across 5 continents and with loyal vendor relationships, emt Distribution brings cutting edge technologies, services and support to its partners and customers."

[1happydays] 19/10/2021 14:44

Cheers Hedge, that EMTMEA seem quite well connected in the region if you look at their customers on their website. They've also got a short video clip on their linkedin of our sales guy at the Dubai event. Stall next to a multi billion cyber company in the background, nice.

[george stobart] 19/10/2021 14:27

Hedgehog - Also Sophos was acquired at an EV/Sales multiple of 5.5x and an EV/EBITDA multiple of 49.2x

That would imply a massive premium for Osirium

[hedgehog 100] 19/10/2021 14:08

Thanks HD - a good find.

It's great to see OSI attending another 'physical exhibition' so soon after their last one ... especially one held abroad.

OSI's attendance at DTX 21 earlier this month, in London, was their first attendance at a 'physical exhibition' for well over a year, since the pandemic disrupted our lives.

Business is clearly returning to 'normal' around the world, and there must be a lot of pent-up demand (& money) for OSI to benefit from, so investments delayed due to the pandemic could increasingly be coming OSI's way.

Many businesses saw their revenues plunge during the pandemic, whereas OSI's increased, which bodes very well for their performance going forward.