Falanx Group launches new cyber threat detection platform
Cyber security firm Falanx Group has launched a new cyber threat detection platform, MidGard, which is expected to cut costs and gain new clients for the company.
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MidGard detects, alerts and provides analysts with the ability to investigate and intervene in cyber security threats as they occur on client's networks and systems and is currently live on its first client network with the pilot contract worth about £50,000 per year.
It is expected to eliminate the costs to the company of licensing an off the shelf product, resulting in an operational cost reduction of about £500,000 per year when fully rolled out.
The company belives they can sell the platform to both government and small to medium size enterprises, as the platform is also available as a dedicated SME solution, called MicroSoc.
MidGard will now be supplied to the company’s distribution channels creating exposure to over 2000 potential new clients in UK.
Chief executive Stuart Bladen said: "MidGard represents a highly significant step-forward in cyber security monitoring. Engineered from the outset to provide clients with the option of either a SME product, or a fully managed, enterprise class, and 'security-as-a-service'.
"Through our channel partnerships, we expect to achieve substantial scale and growth across our direct and managed cyber security services."
Shares in Falanx Group were up 2% to 6.38p at 0901 BST.