Strategic investment to help broaden Intrusion Shield customer penetration
PLANO, TX / ACCESSWIRE / April 22, 2024 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, today announced it has agreed to acquire a minority stake in Klever AI, a Houston, TX based artificial intelligence company, in an all-stock transaction.
Klever AI, a cutting-edge technology company at the forefront of the artificial intelligence (AI) revolution, has been helping organizations thrive in the digital age by developing innovative and practical AI and machine learning (ML) solutions that assist in transforming businesses. Klever AI currently operates in a wide range of industries, such as healthcare, security, finance and IoT. The company empowers organizations by using its AI/ML solutions to help unlock valuable insights, drive operational efficiency, and make data-driven decisions with confidence. Over the past two years, Klever AI has been both a partner and a customer of Intrusion, assisting with both the design and development of Intrusion Shield Endpoint and Cloud solutions, as well as incorporating Shield technology as a part of its customer solutions.
"We are excited to make this investment in Klever AI, which will not only continue to help improve our Intrusion Shield technology but also help broaden our customer penetration into multiple industries," said Tony Scott, CEO of Intrusion. "It is our belief that through this expanded partnership, we will be able to use Klever AI's expertise to better position and enhance our suite of Intrusion Shield products capitalizing on the robust opportunities in our evolving marketplace. I'm excited about the collaboration opportunities we will have with Klever AI to help customer's cybersecurity teams better identify, deflect, and eliminate any cyber threats they may encounter."
Shahrzad Ahmadi, CEO & Founder of Klever AI, shared, "This partnership marks a new era for Klever AI as we continue to progress on our mission to develop innovative and practical AI and machine learning solutions that transform businesses. We are excited about the potential this investment provides, the innovation it will facilitate, and the opportunity to expand and further integrate with Intrusion, a proven leader in cyberattack prevention solutions."
About Intrusion Inc.
Intrusion Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the Company released its first commercial product in 2021. Intrusion Shield is designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.
About Klever AI
Klever AI is a cutting-edge technology company at the forefront of the artificial intelligence revolution. The Company's passion lies in developing innovative and practical AI and machine learning solutions that transform businesses and empower organizations to thrive in the digital age and gain a competitive edge. With a passion for innovation and a deep understanding of the transformative potential of technology, Klever AI empowers organizations to unlock valuable insights, drive operational efficiency, and make data-driven decisions with confidence.
For more information on Klever AI, please visit https://www.kleverai.com/
Cautionary Statement Regarding Forward-Looking Information
This release may contain certain forward-looking statements, including, without limitation, our expectations for positive results from our recent sales, marketing, and strategic initiatives, which statements reflect management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including the risk that our recent sales, marketing, and strategic efforts will not result in increased product awareness or sales of our Intrusion Shield. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, the risk that this financing fails to provide the needed capital for the Company to execute its current business strategies, the Company does not achieve the anticipated results from its current sales, marketing, operational, and product development initiatives, as well as risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."
IR Contact:
Alpha IR Group
Mike Cummings or Josh Carroll
INTZ@alpha-ir.com
SOURCE: Intrusion Inc.
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