Philadelphia, PA, June 11, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Pennexx Foods (OTC:PNNX) has entered into a partnership agreement with Global Digital Forensics (GDF) to develop cloud-based forensic tools. Digital forensics is a multi-billion dollar industry which is expected to grow to almost 10 billion annually by 2022 by market estimations.
Typically, when digital forensics are required, the client calls and various analysts are deployed to perform groundwork tasks like evidence collection, which can be expensive and time consuming due to the manpower required. The digital forensics industry has a glaring need for tools which can be used by the client directly instead of having to rely on analysts to perform the basic functions. This reduces costs and speeds results.
These tools are desirable because it frees analysts to focus their time on analyzing the data instead of merely collecting it.
CEO of Pennexx, Vincent Risalvato and Joseph Caruso, CEO/CTO of Global Digital Forensics, Inc., have been long time business associates, having extensively collaborated on cases for clients like BOSE, Motorola, IBM, Kodak and many others. During that working relationship, they developed various proprietary tools to improve, expedite and streamline the process based on the real-world situation and in real-time. This agreement allows those tools to be brought online using a cloud-based dashboard.
IT, Administration and Legal will be able to log into the dashboard to have instant access to the results and be able to seamlessly collaborate. Online review tools, email collection, OCR, virus detection, intrusion and vulnerability scanning, image collection from desktops and mobile devices and the importing of evidence from other tools are just some examples proposed for the cloud-based system, among many other possible applications.
Joseph Caruso said, “Putting efficient, powerful tools in the hands of my customers has been a dream of mine for over a decade. This will increase the amount of evidence we find, reduce the costs to our customers and improve the results we obtain; it’s a win-win-win.”
An added benefit of this cloud-based system is the digital forensic evidence can be widely shared among teams and techniques like timeline analysis can be applied against all data collected in an efficient manner. The legal team will be able to flag and search the evidence themselves and have the ability to monitor the status of the case on a minute-to-minute basis.
The partnership agreement between GDF and Pennexx includes payment for development services and a revenue share. The cloud servers will be based in a dedicated security environment architected and checked by both GDF and third-party vendors for security.
Vincent Risalvato says, “This is an opportunity for Pennexx to widen its revenue streams and provide tools that are dearly needed by analysts worldwide.”
This agreement is arguably worth millions of dollars between development costs and profit share.
About Global Digital Forensics
Global Digital Forensics was founded in 1992 and have been helping clients win cases for 28 years. GDF's founder Joseph Caruso, while working at Bell Labs, performed pivotal work on the real-time terrain tracking radar for the Tomahawk Missile Project, was a leader in the newly emerging field of digital forensics and spent many years educating, guiding and building the forensics industry.
Today, GDF discreetly assists many prominent companies with all aspects of cyber security, from breach response to threat assessments, penetration testing and threat remediation. They work with hundreds of law firms and attorneys on complex criminal and civil cases, providing analysis, as well as expert witness services. GDF is also on retainer as the leading forensic responder for many private and public companies, including Fortune 100s.
GDF has worked with clients in many highly regulated industry sectors, including clients in finance and banking, government agencies, defense industry manufacturers, healthcare and insurance companies, hospitals — organizations in all areas of business. Their staff provides expert, rapid response all over the United States, Europe and Asia.
You can see their website at https://evestigate.com.
About Pennexx Foods Inc.
About Pennexx Foods Inc. (PNNX: OTCMKTS US). Pennexx, through its wholly owned subsidiaries, is a holding company within the Software/Internet Industry focused on social media, prepaid debit cards, BitGift™, artificial intelligence, targeted marketing and consumer rewards.
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