Nubeva Signs License Agreement with Top Tier Cyber Security Provider; Receives $1 Million Upfront Payment
Symmetric Key Intercept Technology to Support New Security Products
SAN JOSE, Calif.--(BUSINESS WIRE)--Nubeva Technologies Ltd. (TSX-V: NBVA), a software developer for enterprises that need visibility into encrypted network traffic, today announced a seven figure multi-year license agreement with a ~$10 billion market cap global leader in cybersecurity solutions. The agreement, under which Nubeva received a $1 million initial payment, allows for the license of Nubeva’s breakthrough Symmetric Key Intercept solution.
“Nubeva has created a patented solution that enables security and application monitoring systems to see into TLS (SSL) encrypted network traffic more effectively and efficiently,” said Randy Chou, CEO at Nubeva. “This first license agreement validates our Symmetric Key Intercept technology as a pivotal enabler to the broad array of security and application monitoring systems. Our innovation restores and enhances functionality impacted by modern encryption protocols and achieves price/performance points not previously attainable. We feel the agreement is a turning point for Nubeva. We’re confident this is the first of many relationships we’ll forge with top-tier solution providers.”
Delivered as a next-generation agent and microservice software, Nubeva Symmetric Key Intercept (SKI) technology enables systems to see into more traffic. The solution provides up to 10x performance gains and dramatically simplifies current methods and techniques employed by technology solution providers. This capability can enhance and offload inline security systems such as next-generation firewalls, web gateways, intrusion prevention, APT, and DLP systems as well as restore and expand functionality to numerous out-of-band, passive decryption and monitoring systems.
Nubeva’s software core intellectual property lies in its ability to discover and extract the session encryption keys from servers and clients, for VMs, containers, Kubernetes, and metal, in clouds and datacenters, regardless of protocol, ciphers, or session type. The technology is reliable, efficient, secure and provides game-changing economics, scaling and performance. With session keys in hand, enterprises and system manufacturers can employ far simpler and economic pure symmetric decryption to enable their systems.
About Nubeva Technologies Ltd.
Nubeva Technologies Ltd. has changed the decrypted visibility game with pure, symmetric decryption. Nubeva helps enterprises gain the visibility needed through decryption so they can fully inspect network traffic. The need to inspect data in motion is fundamental to network security and application monitoring and assurance. The shift to SaaS, the cloud, and stronger encryption practices like perfect forward secrecy and TLS 1.3, create new and unique challenges for in-line and out-of-band decryption and visibility solutions. Nubeva re-imagined TLS visibility and created a new solution for the modern era of strong encryption in dynamic and distributed compute environments. Visit nubeva.com for more information.
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 in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
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Nubeva Technologies Ltd.
Steve Perkins, Chief Marketing Officer