Fleming Island, FL, July 30, 2021 (GLOBE NEWSWIRE) -- Everything Blockchain, Inc., (OTCMKTS: OBTX), an advanced software architecture, development, and services company specializing in blockchain technologies and decentralized processing, announced today that its closing the acquisition of 100% of Vengar Technologies LLC, developer of a Zero Trust Data Protection software the Company intends to integrate into its Blockchain solutions. The $5.05 million acquisition is Everything Blockchain's fourth strategic acquisition in the last 120 days.
Vengar Technologies, formed in 2019, with operations in Texas and headquartered in Tampa, Florida, has developed a Zero Trust Data Protection solution that is scheduled to appear under its first OEM license in 2022 with a projection of $45 million in booked revenue over the next three years.
Zero Trust Network Access (ZTNA) has replaced the traditional "castle & moat" cybersecurity approach where you were trusted by default if you were inside the "trusted" network boundary. However, the traditional notion of a network perimeter no longer exists and there is no certainty about who might be inside your network or stealing your data. To combat this, an emerging trend is to implement a "zero-trust" network environment. In this scenario, no one is trusted (whether inside or outside of the network) without the user's identity first being authenticated and usage rights validated. Much work has been done recently to define and build zero-trust network architectures. However, a void has remained in applying zero-trust concepts to data itself. Vengar Technologies is the pioneer in bringing zero-trust to data.
Toney Jennings, the co-founder of Vengar Technologies will continue to operate the business along with Brandon Hart, Vengar Technologies' co-founder and Chief Architect and Designer. Toney Jennings is a successful serial cybersecurity CEO with a career spanning almost three decades. Brandon Hart has spent more than 15 years developing zero trust and data protection solutions.
Eric Jaffe, the Company's Chief Executive Officer, stated, "The addition of Toney and Brandon to our team stacks Everything Blockchain with the brightest minds in Zero Trust and Blockchain. Our OEM solution gravitates us from the project-oriented business to a sustainable recurring revenue model."
Toney Jennings, Vengar Technologies CEO stated, "This merger is the marriage of ZTNA and Blockchain. Brandon and I are excited to work and collaborate with the Everything Blockchain team as we move into a new chapter for Vengar. We believe our combined efforts will have a profound impact on our customers' ability to defend themselves in an increasingly hostile cyber environment."
Eric Jaffe, CEOinfo@everythingblockchain.iowww.everythingblockchain.ioRedChip CompaniesDave GentryTel: email@example.com