Multi-year agreement includes over one million dollars in upfront payments
SAN JOSE, Calif., Dec. 05, 2022 (GLOBE NEWSWIRE) -- Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced a seven figure, multi-year license agreement of its Ransomware Reversal solution that includes over one million dollars in upfront payment. The customer wishes to remain confidential for security purposes.
Following a growing series of decryption successes against ransomware by Nubeva, including attacks from threat actors such as Lockbit, Royal, Conti, Ragnar Locker, Blackcat, Hive, and many others, the global enterprise company has chosen Nubeva’s Ransomware Reversal solution to enhance its strategy for ransomware attacks. The sale will enable the customer to utilize Nubeva’s next-generation decryption technology to combat attacks.
Nubeva’s patented sensor technology provides a new kind of layered protection against ransomware. The endpoint software is deployed on clients and servers in the customer’s environment. The sensor can detect ransomware file encryptions and intercept the crypto-keys used to encrypt the files in the first place. With the keys “in hand” there is no reason to buy them back via paying ransoms. Instead, Nubeva provides decryptors that use the intercepted keys to decrypt without paying ransoms.
“After months of deep technical testing, the customer validated our technology and its value in the fight against ransomware,” said Randy Chou, Nubeva CEO and founder. “Today, we now have hundreds of thousands of our sensor technology deployed, and we have a growing pipeline of large opportunities. We feel very good about Nubeva’s outlook. This major win goes a long way to establish confidence with other prospects and potential partners.”
About Nubeva Technologies
Nubeva Technologies patented, next-generation decryption technology provides new options for faster, easier and lower-cost recovery from ransomware attacks. Its mission is to reduce recovery costs and downtime damages so that organizations can get back to business and never pay ransoms again.
Nubeva’s ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. Contact Nubeva to schedule a briefing for more details on Nubeva’s Ransomware Reversal capabilities.
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 regarding 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 or to schedule interviews, contact:
Steve Perkins
Chief Marketing Officer, Nubeva
sperkins@nubeva.com
(714) 261-9948
