DeNexus and Cipher join forces to solve OT and ICS cyber risk for critical markets
[BOSTON, MA], March 26, 2024: DeNexus, a leader in cyber risk quantification and management for operational technology (OT) and industrial control systems (ICS), today announced a partnership with Cipher, a renowned provider of managed cybersecurity services and the xMDR (Managed Detection and Response) platform. This strategic collaboration aims to tackle operational technology (OT) and industrial control systems (ICS) cyber risks in the realm of industrial and physical critical infrastructure.
DeNexus provides cutting-edge cyber risk quantification and management solutions, fostering collaboration between Chief Information Security Officers (CISOs) and Chief Financial Officers (CFOs) in prioritizing cyber risk mitigation strategies specifically tailored for industrial and physical critical infrastructure. Cipher's comprehensive suite of managed cybersecurity services extends coverage to all potential attack surfaces, with a particular emphasis on Operational Technology (OT). The collaboration between these two solutions integrates advanced inside-out data from Cipher, encompassing vulnerabilities and critical security controls. The security insights provided by Cipher empower DeNexus to deliver refined models for cyber risk assessment, potential loss projections, recommendations for risk mitigation, and an ROI-based prioritization framework for mitigation projects.
"The insights and services provided by Cipher are instrumental in refining our cyber risk quantification models," said Jose Seara, Founder and CEO of DeNexus. "Our global partnership with Cipher is a game-changer for customers, offering immediate benefits. This collaboration strengthens cyber resilience through integrated cybersecurity and risk management solutions, ensuring organizations navigate evolving threats with efficiency and effectiveness, safeguarding critical infrastructure."
Despite a growing influx of investments in cybersecurity technologies, organizations find themselves unable to effectively diminish their risk exposure. According to Statista’s Cybersecurity Outlook, the escalating cost to the global economy caused by cyberattacks is predicted to rise from $8.44 trillion in 2022 to $23.84 trillion by 2027. The absence of thorough cyber risk quantification leaves Chief Financial Officers (CFOs) and Chief Information Security Officers (CISOs) without the necessary foundation to make well-informed decisions regarding investments in cybersecurity.
"We're excited to partner with DeNexus, offering our joint customers a solution that provides tangible data for informed cybersecurity investment decisions, said Jorge González de León, Vice President of EMEA at Cipher. “This collaboration aims to strengthen cyber resilience, addressing current challenges and laying the groundwork for enduring strength against evolving threats."
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