Washington, D.C., Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Chertoff Group, a security and growth advisory firm, and Exiger, the SaaS company revolutionizing the way supply chains are managed, announced today the launch of a new strategic partnership designed to expand the breadth of complementary capabilities available in the market to help federal contractors across the defense industrial base and critical infrastructure illuminate, mitigate and monitor the risk of foreign ownership, control or influence (FOCI) in their supply chains.
From the White House’s recent Executive Order on national security technologies and products tied to countries of concern to stronger supply chain language in the FY2024 National Defense Authorization Act, the U.S. Federal Government has honed-in on the acute and long-term risks that foreign influence hiding in supply chains poses to the safety and sustainability of the nation’s critical infrastructure, military and cybersecurity.
"Without careful attention to FOCI exposure and supply chain resiliency, contractors run the risk of being unable to do business with the U.S. Federal Government,” said Michael Chertoff, Co-Founder and Executive Chairman of The Chertoff Group and former Secretary of the Department of Homeland Security. “With Exiger's highly accurate supply chain illumination technology and our extensive risk mitigation expertise, we are bringing to market capabilities that help companies to identify and effectively address these serious and sometimes hidden risks."
Under the partnership, The Chertoff Group and Exiger will offer a combined suite of solutions and services. Exiger brings supply chain mapping technologies, strategic FOCI risk analysis and C-SCRM[1] and SBOM[2] tools. The Chertoff Group provides expert-led regulatory support, national security market expertise, compliance guidance and CFIUS[3] assessments. The offering will target markets with the greatest FOCI risk, including mission critical technologies, companies selling to the U.S. Federal Government, critical minerals and materials, and industries with the greatest exposure to sanctions and the Xinjiang region.
“We’re at the beginning of a complete paradigm shift in how the government looks at this kind of risk and how they expect contractors to guard against adversarial control and sabotage on an ongoing and proactive basis,” said Brandon Daniels, CEO of Exiger. “To navigate this new environment, federal contractors and highly regulated industries are going to need to do a lot more than simply purchasing a risk dataset.”
“We’re pleased to partner with The Chertoff Group to offer a comprehensive solution that combines AI technology, automated intelligence and informed expert advice, providing the kind of reliable and scalable solutions that federal contractors will inevitably need to deploy in order to demonstrate compliance with the growing framework of regulations aimed at combating FOCI risk in critical supply chains,” said Carrie Wibben, President of Exiger Government Solutions.
About The Chertoff Group
The Chertoff Group is an advisory firm of highly qualified experts that uses proven frameworks to help organizations achieve their business and security objectives in a complex, global risk environment. The Chertoff Group helps organizations manage cyber, physical and geopolitical risks, navigate evolving regulatory and compliance requirements, and discover opportunities to win business and create value. Through its investment banking subsidiary Chertoff Capital, the firm provides M&A advisory services to companies in the defense technology, national security and cybersecurity markets. Learn more at Chertoffgroup.com and follow The Chertoff Group on LinkedIn.
About Exiger
Exiger is revolutionizing the way corporations, government agencies and banks navigate risk and compliance in their third-parties, supply chains and customers through its software and tech-enabled solutions. Exiger’s mission is to make the world a safer and more transparent place to succeed. Emboldening its 550 customers across the globe, including 150 in the Fortune 500 and over 50 government agencies, with award-winning AI technology, Exiger leads the way in ESG, cyber, financial crime, third-party and supply chain management. Its work has been recognized by 40+ AI, RegTech and Supply Chain partner awards. Learn more at Exiger.com and follow Exiger on LinkedIn.
[1] Cybersecurity Supply Chain Risk Management
[2] Software Bill of Materials
[3] Committee on Foreign Investment in the United States
Attachment
