HAIFA, Israel--(BUSINESS WIRE)--Terafence, a cutting edge cyber security solution provider for IoT/IIoT devices seals a $2M equity investment and business alliance with CRI, a Japanese company, traded in the Tokyo Mothers stock exchange (code:3698).
Terafence, is a developer of an advanced cyber security solution for the fast growing IoT/IIoT market. Terafence developed “TFenceTM”, a hardware-based solution, which enables a physical data direction control and filtering in application layers.
CRI is a leading developer of advanced video compression technology, "CRI DietCoder" for the growing network surveillance camera market which compresses video data to less than one third, without image deterioration and thus solves the increasing video transmission data needs.
Terafence and CRI realized the potential synergies of a joint solution specifically targeted at cyber security for “surveillance camera networks”. The combined solution provides high level cyber security, simple to implement and cost-effective solution for IoT, ICS/SCADA networks. This alliance will also enable Terafence to rapidly expand its business to Japan.
Hezi Erez, founder & CEO of Terafence commented, “The IoT market is expanding rapidly. It is predicted that IoT compatible equipment would reach 50 billion devices by 2020 (CISCO "Embracing the Internet of Everything to Capture Your Share of $14.4 Trillion", 2013). While IoT contributes to our QOL it is associated with cyber-security threats. Specifically, surveillance cameras, that are widely used as IoT devices, need to be protected from hacking. It is well known that video cameras were the focus of many large DDoS cyber-attacks as demonstrated, for example, in the case of the October 2016, east cost of the USA, hackers that used the security cameras as botnet. At the same time the protection should not involve video quality reduction, a combination that provides additional value. CRI and Terafence will develop an optimal solution to secure networks which involve remote surveillance system."
Masao OSHIMI, CEO of CRI said, “Video compression, image recognition and network security are getting more and more important. Our alliance with Terafence will help us add to our video compression technology for surveillance camera solutions, cyber security layers which are lightweight, high resolution and secured."
This alliance includes equity investment of $2M by CRI and both parties expect to expand and fine-tune their business to the growing need for cyber security solution for the IoT/IIoT and surveillance market.