Facebook, government urge court to approve $5-billion FTC settlement

Facebook | January 27, 2020

Facebook and the Justice Department are urging a federal judge to approve the $5-billion deal the Federal Trade Commission reached with Facebook to settle Cambridge Analytica privacy complaints. The landmark settlement was challenged in July by the Electronic Privacy Information Center, known as EPIC, and is under review by Judge Timothy Kelly of the U.S. District Court for the District of Columbia. In legal filings Friday, the Justice Department said the deal would bring "substantial relief" to consumers and Facebook argued that the settlement would provide "privacy protections far beyond those required by United States law" and "an unsurpassed level of accountability by its executives."

Spotlight

Increasingly, the federal government is called upon not only to manage the routine operations of ongoing programs but also to undertake large, complex initiatives to provide new programs and services and to adapt and improve ongoing programs in a rapidly changing environment. This has proven to be a challenge. The recent high-profile failure of the Healthcare.gov launch is just one example from a long list of troubled government efforts to manage change efficiently and effectively.

Spotlight

Increasingly, the federal government is called upon not only to manage the routine operations of ongoing programs but also to undertake large, complex initiatives to provide new programs and services and to adapt and improve ongoing programs in a rapidly changing environment. This has proven to be a challenge. The recent high-profile failure of the Healthcare.gov launch is just one example from a long list of troubled government efforts to manage change efficiently and effectively.

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CYBERSECURITY

Xage Draws Chevron Backing to Accelerate Zero Trust Adoption in Energy

Xage Security | July 15, 2022

Xage, the zero trust cybersecurity company, today announced investment from Chevron Technology Ventures to further accelerate the use of zero trust in protecting energy and other critical infrastructure from cyber threats. The additional capital extends Xage’s series B venture capital financing for a second time in the last two months, bringing Xage’s total financing to-date to $62M. “Xage’s zero trust security has the potential to expand corporate security standards to environments that increasingly are connected to one another. The technology can provide critical support to cybersecurity and digital transformation needs, This is the latest investment from our Core Energy Fund 7, which focuses on operational enhancement, digitalization and lower carbon technologies.” -Jim Gable, Vice President, Innovation and President of Technology Ventures at Chevron. Xage’s Fabric is specifically designed to bring a zero trust security model to complex environments without requiring an equipment overhaul. The Fabric overlays every machine, app, and data point within an operation to impose granular control over all digital interactions. In addition to the company's Identity & Access Management (IAM), Zero Trust Remote Access, and Dynamic Data Security solutions, Xage recently released a novel multi-layer, multi-factor authentication (MFA) capability designed specifically for real-world operations to block MFA hacks caused by “MFA bombing” and human error. “With Chevron participating in our series B, we’re able to accelerate our impact on energy companies and other critical infrastructure organizations to prevent hacks while building efficiencies and enhancing collaboration, We recently found that 88% of industrial cybersecurity leaders are taking steps to adopt zero trust, and 55% are reporting that zero trust is accelerating digital transformation. It’s our job to make sure these efforts are expedited, and expanded support from investors with deep knowledge of the energy sector will help us achieve that.” -Duncan Greatwood, CEO of Xage. Chevron Technology Ventures joins a growing number of energy sector investors backing Xage. The venture arm of Saudi Aramco invested in Xage’s series A and B; and more recently, Piva Capital, a venture capital firm investing in technologies ushering in a new industrial era, led Xage’s series B, with SCF Partners and Overture Climate Fund joining the round in May. About Xage- Xage is the first and only zero trust real-world security company. The Xage Fabric accelerates and simplifies the way enterprises secure, manage and transform digital operations across OT, IT, and cloud. Xage solutions include Identity & Access Management (IAM), remote access, and dynamic data security, all powered by the Xage Fabric. About Chevron Technology Ventures- Chevron Technology Ventures (CTV) pursues technologies and new business solutions that have the potential to enhance the way Chevron delivers affordable, reliable, and ever-cleaner energy.

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GOVERNMENT INSURANCE

FDIC Completes Modernization of Acquisition Management System with Unison PRISM

Unison | July 25, 2022

Unison, the leading provider of acquisition management software and insight to government agencies, program offices, and contractors, announces that the Federal Deposit Insurance Corporation (FDIC) has completed modernization of their FAMS (FDIC Acquisition Management System) with the successful roll-out of Unison's PRISM SaaS solution. Through this implementation, FDIC has fully replaced four different legacy systems that were only loosely joined together, and measurably improved their Compliance, Audit, and Reporting postures with a net gain in functionality and operational efficiency. FDIC's FAMS initiative to replace their current Appian based system was one of the top agency performance goals for the year. "By leveraging PRISM's Accelerator and Analytics functionality, FDIC is now able to streamline their early Acquisition planning processes as well as take advantage of PRISM's robust analytics to enhance their reporting and dashboarding, Through this initiative, FDIC has been able to seamlessly harmonize many acquisition-related functions in a single solution benefitting a broad spectrum of their users and business processes." -Greg Young, General Manager PRISM. FDIC selected PRISM SaaS including secure infrastructure and a Web Services-based integration layer which works with FDIC's existing enterprise systems to realize greater value across their applications ecosystems. This has allowed the agency to side-step its technical debt and maintenance burdens for an Acquisition system. PRISM is the only proven, widely used, and built for federal FedRAMP Moderate compliant Acquisitions solution. FDIC acquisition professionals are using the Unison PRISM solution to efficiently and effectively manage the complete federal acquisition lifecycle, in a compliant way, from planning through closeout. About Unison- Unison's secure cloud and on-premise Lifecycle Acquisition Management software, Marketplace, and information products support more than 200,000 users in leading prime contractors, all cabinet-level agencies, and major DoD programs. All software development and support are provided within the USA.

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GOVERNMENT BUSINESS

StrikeForce Strengthens it’s Government Relations Capabilities with Ankura Consulting Group, LLC.

StrikeForce Technologies, Inc. | May 05, 2022

StrikeForce Technologies, Inc., a cyber security company that provides next-gen cyber, data protection & Secure Video Conferencing solutions for SMB’s, Enterprises & Government agencies, announced that they signed an engagement agreement with Ankura Consulting LLC., to help expand StrikeForce’s footprint within the Federal Government and Intelligence communities. “As part of our scope of work, Ankura will assist StrikeForce in facilitation of government and commercial opportunities, as well as help secure a Small Business Innovation Research (SBIR) grant to advance their technology and platform certifications. StrikeForce’s timing is perfect,” says Dean Thomas, Managing Director at Ankura. “On May 12th, President Biden signed an Executive Order charting a course to Improve the Nation’s Cybersecurity and Protect Federal Government Networks. We plan to take full advantage of this opportunity and introduce StrikeForce’s solutions everywhere we can.” We are really excited about working with the Ankura Consulting Group. Their global team of cybersecurity practitioners includes leaders with extensive experience as members of the intelligence community, law enforcement personnel and federal agents, digital forensic specialists, and founders of pioneering cyber technology firms. Their experts have handled some of the largest and most sensitive cybersecurity incidents and regularly advise leading organizations on the data privacy policies.” Mark L. Kay, CEO of StrikeForce “All the pieces are coming together quite nicely,” says Kay. “If you want to expand in the Federal Government and Intelligence communities you need to partner with a team that is well seasoned, have extensive relationships, and understand how the procurement process works. That’s why we choose Ankura.” About StrikeForce Technologies Inc. StrikeForce Technologies helps to prevent Cyber theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, “Out-of-Band” authentication, keystroke encryption along with mobile solutions. StrikeForce Technologies, Inc. is headquartered in Edison, N.J. About Ankura Ankura Consulting Group, LLC is an independent global expert services and advisory firm that delivers services and end-to-end solutions to help clients at critical inflection points related to change, risk, disputes, finance, performance, distress, and transformation. The Ankura team consists of more than 1,500 professionals serving 3000+ clients across 55 countries who are leaders in their respective fields and areas of expertise. Collaborative lateral thinking, hard-earned experience, expertise, and multidisciplinary capabilities drive results and Ankura is unrivaled in its ability to assist clients to Protect, Create, and Recover Value.

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