San Jose, Calif., March 02, 2020 (GLOBE NEWSWIRE) -- Nubeva Technologies Ltd. (TSX-V: NBVA), a cloud visibility SaaS software developer for enterprises with assets in public and private clouds and data centers, today announced a new sales agreement with a U.S.-based, mid-sized healthcare IT service provider. The agreement converts the client’s use of the Nubeva TLS Decrypt solution from trial to a fully deployed operation. Using Nubeva TLS Decrypt, the customer will extend its security monitoring capabilities and expand how it monitors its network applications.
“It’s imperative for U.S. firms handling patient health care information to safeguard data under HIPAA privacy rules,” said Steve Perkins, chief marketing officer at Nubeva. "This particular client is a cloud-native company and it’s critical to their security team to view fully decrypted packets in their Azure environment. We’re pleased they selected Nubeva TLS Decrypt as their tool of choice to decrypt their cloud traffic for forensic monitoring purposes. While they currently decrypt a small number of packets, they intend to expand decryption to provide increased visibility and security across their cloud subscription. As one of Nubeva’s very first decryption customers, converting this business serves validates that our solution not only works, but helps organizations monitor and secure their clouds.”
Nubeva TLS Decrypt, an award-winning SSL / TLS decryption solution and packet capture utility, provides security and DevOps teams with the foundation needed to monitor and inspect packet traffic around critical applications in public and private clouds. Using symmetric key discovery, organizations can re-enable out-of-band decryption. A Nubeva sensor discovers session keys from memory and a containerized Nubeva decryptor pairs the final session keys with mirrored traffic then forwards the clear text, Port 80 traffic to analytics and forensics security tools for action.
“Our sales cycle involves the traditional trial - pilot/test - security protocol review - buy cycle,” added Perkins. “We anticipate that our trial users will continue to convert as paying customers in 2020, and we’re here to support their security monitoring needs.”
Financial details of the agreement were not disclosed.
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About Nubeva Technologies Ltd.
Nubeva Technologies Ltd. develops Software-as-a-Service ("SaaS") solutions that enable enterprises to obtain visibility of encrypted cloud traffic. Nubeva’s Symmetric Key Intercept architecture provides universal TLS decryption and works in any cloud platform. The service unlocks cloud traffic for best-of-breed security. The scalability and ease-of-use of Nubeva enable any organization to adopt aggressive encryption in the cloud needed for network monitoring and security tools. Visit nubeva.com for more information.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
For additional information, please contact:
Steve Perkins, Chief Marketing Officer
1-(844)538-4638
Nubeva Technologies Ltd.
or
Marcel Valentin, Investor Relations
1-(647)697-0498