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. The MidGARD platform IPR is wholly owned by Falanx and is currently live on its first client network and the value of this pilot contract is approximately £50,000 per annum. In addition, the use of MidGARD will eliminate the costs to the Company of licensing an off the shelf product, resulting in an expected operational cost reduction of approximately £0.5M per annum, when fully rolled out.
The Directors believe that MidGARD will have a broad market appeal and will represent a highly cost effective solution for both Government, Enterprise and Small to Medium size companies.
MidGARD Represents the latest innovations in advanced threat detection and security incident and event management. It brings together big data analytics and external intelligence aggregation, backed up with our own live Security Operations Centre based in the UK, manned by UK Security Cleared Staff.
Enabled by MidGARD, our Security Operations Centre alerts the client of the problem and puts in place the most appropriate course of action. This is further extended through our Incident Response Service where we start to defend the organisation in real-time while a team is deployed onsite to start the recovery process.
MidGARD has been designed to be fully compliant within UK Government organisations and large Enterprise class clients who have demanding compliance and regulatory needs. Our platform is also available as a dedicated Small to Medium Enterprise Solution, called “microSOC”. Bringing the quality of an Enterprise class platform at a price and size dedicated for the UK SME.
Falanx Cyber Defence has well established distribution channels through which MidGARD will now be supplied, creating exposure to over 2000 potential new clients in UK alone, through;
· CDW Corporation: The $9bn NASDAQ technology solutions provider
· NASSTAR Plc : The AIM listed, managed IT services provider
· SNX Systems: One of the UK’s leading Financial Services IT solutions providers
Stuart Bladen, CEO of Falanx Group Ltd, commented: “We are delighted Falanx has successfully developed, and now owns and operates, such a highly featured, efficient and scalable monitoring platform. MidGARD represents a highly significant step-forward in cyber security monitoring. Engineered from the outset to provide clients with the option of either an 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.”