Joining me this week on PowerTalk to discuss the growing threat we all face — cyber attacks — as well as a set of new solutions to combat them is Martin Roesch. Martin is not only a founder of cyber security company Sourcefire (FIRE) but also its chief technology officer (CTO) and a board member.
Cyber attacks not only are growing in volume, but they are hitting major companies like Google (GOOG), Bank of America (BAC), Northrop Grumman (NOC), Microsoft (MSFT), Yahoo (YHOO), AOL (AOL), LinkedIn (LNKD), Tumblr, the Reuters news service and the BBC to name a few. The situation is a cause for alarm. That’s one of the reasons why the threat of cyber attacks sits in the crosshairs of my Safety & Security PowerTrend, one of my Great 8 PowerTrends that shapes how we invest in my PowerTrend Profits newsletter.
Earlier this week, I was talking with some folks at the U.S. Chamber of Commerce, and they pointed out several of the key concerns that are on the minds of its more than 3 million members. For those businesses that comprise the Chamber’s constituents — from mom-and-pop shops to leading industry associations and large corporations — cyber security increasingly is on their minds.
How can it not be?
Symantec’s (SYMC) Internet Security Threat Report, Volume 18 (ISTR), published this past April, revealed a 42% surge during 2012 in targeted attacks compared to the prior year. Designed to steal intellectual property, these targeted “cyber-espionage” attacks are increasingly hitting the manufacturing sector, as well as small businesses. While it may raise some eyebrows to those not in the know, you may be surprised to learn that 31% of all targeted attacks are aimed at businesses with fewer than 250 employees.
During the course of my PowerTalk with Martin Roesch, we talk about why the bad guys have a leg up on cyber-security companies and what Sourcefire is doing to fix that; how security differs from a good defense; and the state of the cyber-security industry, including recent consolidation activity and what’s next. Martin also shares details about some of the new products that Sourcefire is rolling out and which set the stage for a new model of cyber security.
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