GOVERNMENT BUSINESS
Parker | July 20, 2022
Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”).
Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”):
Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK;
Meggitt’s key areas of existing operational capability in the UK;
R&D (including product engineering) and manufacturing labor headcount in the UK;
Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and
Contractual obligations regarding supply of goods and services to HM Government.
Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent.
“We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.”
-Tom Williams, Chairman and Chief Executive Officer, Parker.
The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022.
About Parker-
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.
Read More
.jpg)
EMERGING TECHNOLOGY,CYBERSECURITY
Carahsoft | August 24, 2022
Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, and 1Kosmos, the company that unifies identity proofing and passwordless authentication, today announced a partnership. Under the agreement, Carahsoft will serve as 1Kosmos’ Master Government Aggregator® making its BlockID authentication platform available to the Public Sector through Carahsoft’s reseller partner network and NASA Solutions for Enterprise-Wide Procurement (SEWP) V and Information Technology Enterprise Solutions – Software 2 (ITES-SW2) contracts.
The recent Executive Order on Improving the Nation's Cybersecurity (EO 14028) requires Federal civilian agencies to establish plans to drive adoption of Zero Trust Architecture. Carahsoft and 1Kosmos’ partnership provides access to the BlockID cloud-based service to help Local, State and Federal Governments adopt a Zero Trust approach to security by replacing passwords with identity-based multi-factor authentication (MFA). This service integrates with existing identity systems and combines indisputable digital identity proofing with advanced biometrics and passwordless authentication.
“The addition of 1Kosmos to Carahsoft’s Zero Trust Solutions group provides Government agencies with a user-friendly method of verifying the identity of individuals accessing citizen services and resources that eliminate passwords, Together with 1Kosmos and our reseller partners we have the strength and expertise to help Government agencies efficiently modernize enrollment, on-boarding and authentication for digital services, without replacing their existing systems.”
-Troy Meraw, Sales Manager at Carahsoft.
Carahsoft is a trusted source for resellers and systems integrators who help Government agencies solve complex security and identity management challenges, said Greg Cranley, VP Federal and Public Sector for 1Kosmos. This partnership makes passwordless, identity-based MFA readily accessible to State, Local and Federal Governments that want to adopt Zero Trust access principles for employees, contractors and citizens. Through our BlockID service, we are ensuring the cybersecurity of our nation’s information.
1Kosmos BlockID is a distributed identity cloud service that integrates identity proofing, verification and live biometrics authentication, enabling Government agencies to:
Provide workers and third-party contractors with a user-friendly enrollment, identity verification and on-boarding experience, as well as passwordless login.
Protect against identity impersonation, account takeovers and transaction fraud.
Modernize identity and access management (IAM) with identity-based authentication, advanced multi-factor authentication (MFA) and provide citizens a verified digital identity they control and use to access Government services.
To strengthen the Public Sector’s cybersecurity defense, agencies need to implement Zero Trust principles that safeguard networks at every entry point. Carahsoft supports solutions that help Government organizations understand Zero Trust frameworks, develop a Zero Trust strategy, and implement a Zero Trust architecture.
About Carahsoft:
Carahsoft Technology Corp. is The Trusted Government IT Solutions Provider®, supporting Public Sector organizations across Federal, State, and Local Government agencies and Education and Healthcare markets. As the Master Government Aggregator® for our vendor partners, we deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience, and more. Working with resellers, systems integrators, and consultants, our sales and marketing teams provide industry-leading IT products, services, and training through hundreds of contract vehicles.
About 1Kosmos:
1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Somerset, New Jersey.
Read More
CYBERSECURITY
CREDENCE SECURITY | August 23, 2022
The digital age has led to boundless innovations and advancements; however, it has also resulted in increasing criminal ingenuity. Using emerging technologies such as artificial intelligence (AI) tools in investigations can enhance the ability to identify and investigate attacks and help investigators get to the root cause rapidly. With this in mind, Credence Security has signed a strategic distribution partnership with Voyager Labs, a world leader in AI-based investigation solutions.
Under the agreement, the leading PAN-EMEA specialty value-added distributor will be responsible for delivering, promoting, and providing sales and technical support for Voyager Labs' entire suite of solutions across its expansive channel ecosystem in the Middle East and Africa. Voyager Labs will also establish an office in the UAE to provide local support and expertise to its regional customers.
Voyager Labs' cutting-edge technology has the capability to analyze billions of data points in near real-time, allowing law enforcement and intelligence agencies to identify threats and leads from multiple data sources. Powered by AI, Voyager Labs' offerings bring organizations a unique edge against today's sophisticated cyber threats.
Voyager Labs' world-class solutions include:
VoyagerAnalytics – an in-depth investigation platform, designed to analyze massive amounts of unstructured open, deep, and dark web data, as well as internal data, to reveal actionable insights
VoyagerInsights – an advanced central investigation platform designed to enable investigators to automatically uncovering relevant leads from unstructured and structured data
VoyagerCheck – a risk assessment platform that provides an automated assessment of user behaviour.
VoyagerVision – a comprehensive visual intelligence platform that offers a full suite of visual data analysis capabilities.
With over 10 years of experience developing state-of-the-art solutions for forensic intelligence and law enforcement activities, Voyager Labs' platforms are used extensively within law enforcement and intelligence agencies globally. Our proprietary AI-powered tools have helped prevent and solve crimes at a speed and accuracy that is incomparable and impossible for human analysts.
We are glad to have Credence Security as our regional VAD as we believe that they share our vision for digital forensics innovation and intelligence and that our suite of solutions complements their comprehensive array of offerings. In addition, as we grow our presence in the Middle East and Africa, we are confident that our partnership with Credence Security will help us further accelerate our business and reach across the region.
"AI innovations present tremendous opportunities for the digital forensics community. Voyager Labs offer organizations a significant advantage to keep up with today's sophisticated types of threats and the unprecedented amount of data in each investigation. Voyager Labs' powerful AI-based platforms are a great example of these solutions and we are honored to be their trusted partner in bringing their ground-breaking solutions to our partners and customers in the region."
-Garreth Scott, Managing Director at Credence Security.
As a testament to their commitment to the region, Voyager Labs is also taking part in the second edition of Credence Security's Middle East Roadshow. This event will be held under the theme, Take Your Investigations To The Next Level, will cover key markets such as Egypt, Qatar, Saudi Arabia and the UAE. It will bring together pre-eminent technology experts, vendors and thought-leaders to discuss the latest trends, strategies and innovations in today's security landscape.
Over the years, the Credence Security Roadshow has proven to be the platform of choice for security and digital forensics professionals across the region as we provide a comprehensive understanding of the current trends and digital practices that organizations, whether corporate or traditional law enforcement and governments, need to follow to get ahead of the curve and improve on their digital forensics investigation capabilities by reducing the backlog and increasing the depth and breadth of device and data coverage.
ABOUT CREDENCE SECURITY:
Established in 1999, Credence Security, a PAN-EMEA specialty Value-added Distributor, is a leader in Cybersecurity, Forensics, Governance, Risk and Compliance. With headquarters in Dubai and regional offices in Johannesburg, London, Nairobi, and Hyderabad. We are a pure-play provider of security and forensics solutions, to both public and private sector enterprises across Europe, Middle East, and Africa, through a select network of specialist resellers.
Unlike most other distributors, we take a consultative 'value-add' solution approach, we collaborate with our partners and their customers to understand their needs, both from a technology and business perspective, and then work very closely with our partners to deliver tailor made solutions. Working closely with globally recognized, award winning vendors including Oxygen Forensics, AccessData, ColorTokens, an Exterro company, Finesse, HelpSystems, HumanFirewall, Entrust, ZecOps and ZeroFox, Credence Security delivers best-in-class, Cybersecurity & Forensics technologies and solutions that protect organizations against advanced persistent threats, malicious adversaries and internal malpractice.
Read More