- Introduces industry’s first identity-based securitization of employee and third-party access to enterprise resources using any modern web browser of choice with secure extension.
- As easy to deploy and manage at scale as it is effective in protecting organizations from the increasing prevalence of cyberthreats.
- Join High Wire’s unveiling event today at 11:00 a.m. Eastern time. Dial: +1 (877) 451-6152. Webcast here
BATAVIA, Ill., July 17, 2023 (GLOBE NEWSWIRE) -- High Wire Networks, Inc. (OTCQB: HWNI), a leading global provider of managed cybersecurity and technology enablement, has introduced the next generation of cybersecurity technology featuring greater protection at the edge, better user experience, and enhanced capabilities for responsive actions to active threats.
The advanced technology is delivered through a proprietary Overwatch by High Wire™ universal web browser extension that combines simplicity of deployment and use with unrivalled capabilities. This innovative approach is anticipated to disrupt the Secure Access Service Edge (SASE) space, add a new dimension to Identity and Access Management (IAM), and revolutionize the way enterprises secure their organizations.
The Problem
Enabling secure hybrid or remote workforces and realizing the benefits of digital transformation have become top priorities for organizations worldwide. Unfortunately, traditional network and security architectures were not designed with the cloud or hybrid work in mind.
Web browsers have also become the primary application used by organizations across every industry. Yet browsers were also not designed for the security challenges created by today’s distributed workforce. This has inspired cyber criminals to target the web browser as their primary “attack surface” for stealing data from unsuspecting users or holding it ransom.
The convergence of these factors has created costly problems with visibility, flexibility and user experience, and especially with incomplete or ineffective protection from increasingly prevalent and sophisticated cybersecurity threats.
To combat these threats, organizations have had to deploy multiple costly security tools, such as secure web gateways, SASE platforms and proxies, and route web browser traffic to inspection points which slows the browser experience. These security tools are becoming increasingly ineffective against phishing, malware and the many other types of cyberattacks.
The Solution
High Wire’s new proprietary cybersecurity technology solves these problems by combining multiple networking and network security services into a single hyper-localized element on the device that delivers a full range of capabilities. It provides greater protection, a better user experience and enhanced functionality that enables more responsive actions in the event of an active cyber threat.
The widespread exodus of knowledge workers from behind the corporate firewall and the rise of cloud-based applications has created an opportunity for High Wire to leverage the universal use of the web browser as the center point to deliver the full range of enterprise cybersecurity and infrastructure requirements.
Rather than taking the traditional network-focused approach, the new solution redefines the edge of the network. It extends the capabilities of existing solutions while displacing others, and protects devices from being breached whether due to software vulnerabilities or user interaction.
Among its many features and capabilities, it is the industry’s first identity-based approach to securing employee and third-party access to enterprise resources using a secure web browser extension or plug-in. It transforms any modern web browser from a consumer-architected browser into an enterprise-class secured browser, enabling centralized policy and security management, user visibility, web security and governance.
Leveraging artificial intelligence and novel proprietary technology, the solution provides exceptionally powerful protection against phishing, viruses, ransomware, malware, malvertising, data leakage and data theft.
It provides this protection without the need for costly physical or cloud firewalls, gateways or network monitoring software. These traditional methods are no longer practical in an era where the network edge has become wherever the user or device may be located—at the office, at home or in the field.
An Overwatch-enabled browser allows organizations to fully embrace the new remote work paradigm through the consolidation of secure remote access and centralized security and enterprise management functions, all while maintaining the familiar user experience of popular web browsers.
Key Features
- Identity-Based Securitization: Industry’s first identity-based securitization of employee and third-party access to enterprise resources using virtually any web browser by deploying a secure web browser extension or plug-in.
- AI-Powered Anti-Phishing: Active protection from known, and more importantly unknown, threats that are identified in real time and blocked.
- Crowdsourced Threat Intelligence Cloud: Greater ability to block new threats in real-time utilizing crowd-sourced data.
- Two-pass Antivirus: In-browser anti-virus based upon real time crowd sourced data.
- Data Redaction & Data Leakage Prevention: Enables zero trust policy controls and enforcement in-browser.
- Frictionless Secure Web Gateway: No longer require a firewall in the cloud or at the endpoint.
- Centralized/Single Management & Reporting: Provides greater operational efficiency and lower operating costs.
- Fully Compatible: Works on virtually any popular web browser and OS, and can complement any existing cyber ecosystem and network protection.
- Easy to Deploy at Scale: Can enable protection for an entire organization within just a few hours and at minimum cost to deploy.
- Multiple Additional Key Features: The solution includes many additional unique and proprietary capabilities that the company plans to announce upon the product’s official launch.
The Overwatch by High Wire™ universal web browser extension is the first product introduced by the company’s newly formed Overwatch CyberLab™ division. Overwatch CyberLab represents the company’s new cybersecurity technology platform that will serve as the incubator and IP manager for the company’s cybersecurity product research and development.
The Opportunity
The new technology creates a unique opportunity for High Wire to disrupt multiple market segments with a powerful, comprehensive cybersecurity solution that is as easy to deploy, manage and scale as it is effective in protecting organizations from the increasing risks of cyberthreats.
The solution is expected to readily tap High Wire’s existing channel partner network comprised of several hundred technology vendors, distributors and resellers, as well as more than 200 managed service providers (MSPs) worldwide.
These channel partners represent more than 1,000 managed security end-customers and tens of thousands of technology end-customers, many of which are represented in the Fortune 500 and Fortune 50, as well as top federal and state agencies.
"The introduction of this new technology furthers our journey from simply a managed security services provider to an IP leader in cybersecurity technology with proprietary products and solutions,” said High Wire CEO, Mark Porter. “It takes our Overwatch cybersecurity platform value proposition to a whole new level for the benefit of our channel partners and end customers. For our partners, this cybersecurity solution opens new doors and creates an additional recurring revenue stream on top of managed services.”
According to the company’s new chief product officer and inventor of the technology, John “JP” Peterson: “As we combine the capabilities of this advanced BYOB (bring your own browser) universal extension with High Wire’s broad market reach, I see us taking the cybersecurity world by storm with this innovative and unique solution to the growing prevalence of cyber threats and the increasing pace of cybertime.”
Peterson has brought to High Wire more than 30 years of entrepreneurial and executive experience in product development, sales engineering and technological innovation at leading global technology and cybersecurity companies, including Ericom (Ericsson), Cisco Systems, Fortinet, Barracuda Networks, Juniper Networks, U.S. Robotics and 3Com. A prolific inventor of leading-edge cybersecurity technology, he is named on 13 patents and patent applications that represent major advances for the industry.
High Wire will initially roll out the solution to select partners and their end-customers over the next few months, after which it will offer it through its full network of more than 625 channel partners worldwide.
The Overwatch secure browser solution can be sold in combination with other High Wire IT and cybersecurity products and services, as a standalone offering or through commercial licensing partnerships. Such partnerships could include cybersecurity insurance providers who are looking to lower the risk of security breaches that result in costly claims.
The solution addresses multiple, fast-growing segments of the $175 billion cybersecurity marketplace:
- Global Secure Access Service Edge (SASE) Market: $5.9 billion by 2028 @ 25% CAGR.
- Identity and Access Management (IAM) Market: $32.6 billion by 2028 @ 15.6% CAGR.
- Cloud Access Security Brokers (CASB) Market: $24.2 billion by 2028 @ 17% CAGR.
Major market growth drivers:
- Rising instances of security breaches and escalating identity-related fraud.
- Growing need for better compliance management.
- Increasing need for IAM for IoT.
- Increased spending on cybersecurity following COVID-19 pandemic.
- Expanding adoption of cloud-based applications.
The Unveiling
To learn more about this breakthrough cybersecurity technology, join High Wire for the unveiling event today. Participants can also meet the company’s new chief product officer and award-winning inventor of the technology underpinning the new solution, John “JP” Peterson.
Date: Monday, July 17, 2023
Time: 11:00 a.m. Eastern time (8:00 a.m. Pacific)
Toll-free dial-in number: +1 (877) 451-6152
International dial-in number: +1 (201) 389-0879
Conference ID: 13740124
Webcast: here (live and replay)
The webcast will include a slide presentation viewable via the webcast link above. The webcast interface also includes the ability to submit questions and comments. Or you may email your questions to investors@highwirenetworks.com.
A telephone replay of the call will be available later today. You can also view the webcast replay on highwirenetworks.com/investors.
Toll-free replay number: +1 (844) 512-2921
International replay number: +1 (412) 317-6671
Replay ID: 13740124
If you need any assistance, contact CMA at +1 (949) 432-7566.
To learn more about High Wire’s Overwatch managed cybersecurity services, visit High Wire Networks online or email overwatchsales@highwirenetworks.com.
About High Wire Networks
High Wire Networks, Inc. (OTCQB: HWNI) is a fast-growing, award-winning global provider of managed cybersecurity and IT enablement services. Through more than 625 channel partners, it delivers trusted managed services for nearly 1,000 managed security customers and tens of thousands of technology customers. Its end-customers include hundreds of Fortune 500 companies and the nation’s largest government agencies.
High Wire has 125 full-time employees worldwide and four U.S. offices, including a U.S. based 24/7 Network Operations Center and Security Operations Center in Chicago, with additional regional offices in Puerto Rico and United Kingdom.
High Wire was recently ranked by Frost & Sullivan as a Top 12 Managed Security Service Provider in the Americas. It was also recently named to CRN’s MSP 500 and Elite 150 lists of the nation’s top IT managed service providers.
Learn more at HighWireNetworks.com. Follow the company on Twitter, view its extensive video series on YouTube or connect on LinkedIn.
Forward-Looking Statements
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
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