REG - Narf Industries PLC - Breakthrough Threat Intel Capability Accelerated

Narf IndustriesAnnouncement

01/05/2024 07:00

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RNS Number : 7081M  Narf Industries PLC  01 May 2024

 

1 May 2024

Narf Industries plc

("Narf", the "Company", or the "Group")

 

Narf Accelerating Break-Through Threat Intelligence Capability

 

New threat intelligence tools to meet urgent worldwide software supply chain
security risk.

 

Narf Industries plc (LSE: Narf), the cybersecurity group specialising in
high-end threat intelligence and critical infrastructure security, is pleased
to announce that it is accelerating work on cutting-edge capabilities shown to
be uniquely effective in battling a new generation threat to the global
open-source software supply chain.

 

At the beginning of April, news emerged that a recent version of XZ Utils
(https://www.wired.com/story/xz-backdoor-everything-you-need-to-know/) , a
compression utility integrated into Linux distributions and other wide spread
open source software, contained a backdoor that would have allowed hackers to
access servers throughout the world. If distributed, the backdoor had massive
damage potential allowing for customer data leaks and ransomware extortion
schemes. Undetected by today's cybersecurity measures, the backdoor was
discovered only by chance when a Microsoft employee was testing an
application.

 

Narf presented this past week to key customers and industry partners that its
new generation of threat intelligence tools, if deployed, would have
significantly aided in discovering such an open source software attack. With
development funded by $2.3 million in R&D contract awards from the Defense
Advanced Research and Projects Agency ("DARPA") since April 2021, Narf is now
accelerating this work for rapid deployment into government and commercial
systems.

 

Steve Bassi, Narf President and CEO said, "We highlighted this work to
investors in February as a top candidate in our R&D portfolio for
commercialisation. In light of recent events and market demand, we are rapidly
adjusting our resources and plans to address this most pressing cyber threat
and maintain our multi-year head start leadership in this market."

 

Michael Locasto, VP Government Research and Development at Narf said: "DARPA
selected our innovative social cyber approach and has re-invested multiple
times over recent months given our demonstrable results.  We're presenting
our findings in government circles and to strategic industry partners for
rapid deployment of our capabilities against this extremely complex threat and
its potential for widespread damage."

 

John Herring, Executive Chairman at Narf said:  "These new threat
intelligence tools place Narf as a pioneering force in the software
development security market ("DevSecOps"), which was valued at $4.79 billion
in 2022 and is projected to surge to $45.76 billion by 2031, growing at a CAGR
of 28.5% over the period 1 . Further, two additional Narf initiatives in
collaboration with government agencies converge within this domain to
collectively lay the groundwork for a transformative SaaS platform
opportunity."

 

To read more about XZ Utils
(https://www.wired.com/story/xz-backdoor-everything-you-need-to-know/) visit
https://bit.ly/3QpRRVF (https://bit.ly/3QpRRVF) .

 

ENDS

 

For further information visit https://narfgroup.com/ (https://narfgroup.com/)
or contact:

 

 Narf Industries plc         John Herring      jh@narfgroup.com
 Joint Broker                Simon Bridges     Tel: +44 (0) 207 523 8000

 Canaccord Genuity Limited   Harry Rees
 Joint Broker                Peter Krens       Tel: +44 (0)207 186 9030

 Tennyson Securities plc
 Financial PR, UK            Paul Dulieu       narf@stbridespartners.co.uk

 St Brides Partners          Isabel de Salis

About NARF Industries plc

Narf Industries (LSE: NARF) is a US based leading provider of cybersecurity
research, solutions, and services to government entities. With a steadfast
commitment to protecting national security and critical infrastructure, it
offers comprehensive expertise in addressing the evolving cyber threats faced
by its clients.

 

 

 1  Source: https://straitsresearch.com/report/devsecops-market
(https://straitsresearch.com/report/devsecops-market)

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