TORONTO, Oct. 15, 2018 /CNW/ - Imex Systems Inc. ("Imex"
or the "Company") (TSX VENTURE: IMEX; OTC: IMSYF) a software
solution provider to Governments, Municipalities and Public
Authorities, is pleased to announced that it is in the process of
creating a new cybersecurity subsidiary and has signed an agreement
with Net-Patrol International Inc. (|Net-Patrol"), a leading
provider of cybersecurity solutions for governments, law
enforcement and industry worldwide.
Cyber commissioner™ will be the name of the new standalone
subsidiary that will be created to maximize opportunities in the
high-profile cybersecurity vertical..
As part of the partnership agreement, Imex will utilize their
Security Maturity Assessment™ ("SMA") platform under the brand
name: Cyber Commissioner™.
SMA is a cybersecurity framework designed to assist
organizations with the assessment of their Information Security
functions and processes. The framework focuses on the critical
aspects of information security that provide the organizations with
confidentiality, availability, integrity, and continuity of
business operation. SMA incorporates information security aspects
from ISO 27001/5 and COBIT. In addition, the framework has been
carefully developed to assess the key aspects of the security value
chain, determine the organization's security maturity standing, and
provides a 'move forward approach' to address potential concerns.
SMA incorporates information security aspects from ISO 27001/5 and
COBIT. In addition, as part of the partnership, Imex will also
offer governance and risk compliance; digital forensics among other
services.
"We developed our SMA platform to enable governments and
organizations to easily assess their cyber-securities
vulnerabilities at a far less cost than traditional consulting
cyber-security service audits, said Tom
Warren, CEO of Net-Patrol. "We are truly looking forward to
working with Imex to enhance their iGov platform, and to expand
their reach into government markets. This tool provides the roadmap
needed to understand all threats within any enterprise. Business
leaders will now understand what cyber security elements are
needed, without needing advanced skills in the cyber security
industry".
In the U.S. President's Fiscal Year (FY) 2017 Budget request,
over $19 billion was budgeted for
cybersecurity, which represented a 35% increase from FY 2016 in
overall Federal resources for cybersecurity. In May 2017, Cybersecurity Ventures predicted that
global spending on cybersecurity products and services would exceed
$1 trillion cumulatively from 2017 to
2021.
In May 2018, the United States
White House, Office of Management and Budget (OMB) in coordination
with the Department of Homeland Security (DHS) published the
Federal Cybersecurity Risk Determination Report and Action Plan
(Risk Report), which reported that 71 of 96 agencies (74 percent)
participating in the risk assessment process have cybersecurity
programs that are either at risk or high risk.
In addition, the OMB and DHS examined the performance of 96
agencies across 76 metrics, and identified four (4) core actions
that are necessary to address cybersecurity risks across the
Federal enterprise:
- Increase cybersecurity threat awareness among Federal agencies
by implementing the Cyber Threat Framework to prioritize efforts
and manage cybersecurity risks;
- Standardize IT and cybersecurity capabilities to control costs
and improve asset management;
- Consolidate agency SOCs to improve incident detection and
response capabilities; and
- Drive accountability across agencies through improved
governance processes, recurring risk assessments, and OMB's
engagements with agency leadership.
"We believe that by incorporating Cyber Commissioner™ into our
iGov platform, we can help governments and cities around the world
assess, understand, and manage their cybersecurity risks", said
Rob Klein, CEO of Imex., "Net-Patrol
and their team of cyber professionals are among the best, and we
are really looking forward to learning and working with them."
About Imex Systems
Imex Systems Inc. is a Canadian software products and solution
provider to Governments, Municipalities and Public Authorities in
Canada and internationally. Imex
primarily focuses on E-Government and the Smart Cities market that
also include the integration to payment processing. The
company helps public sector entities to provide "Any Time, Any
Where, Any Device and Any Channel" convenience for citizens to
access government services and help with digital transformation of
government operations and streamline revenue. Imex's various
product and service offerings include: i-Gov - a Digital
Government Platform for all levels of governments, which provides
all the pre-built components for building an effective Digital
Government and supporting payment processing through multiple
channels; iCity - a Smart City Solution;
and miGov - a Mobile Government Framework.
About Net-Patrol International Inc
Net-Patrol International, Incorporated has been operational for
20 years. NPI has offices in Canada, United
States, and Barbados.
Having performed both cybersecurity and technical investigation
services worldwide, NPI has developed various craft solutions for
all types of organizations.
Forward-Looking Statements
This news release contains certain "forward-looking information"
within the meaning of applicable Canadian securities laws. Any
statements that involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking information and are
intended to identify forward-looking information.
This forward-looking information is based on reasonable
assumptions and estimates of management of the Company at the time
it was made, and involves known and unknown risks, uncertainties
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking information. Forward-looking information in
this news release include, but are not limited to, statements with
respect to: increased sales from existing customers and new
customers and the potential opportunities to be created from the
joint venture with BGC related to mobile payments and cyber
security. Forward-looking information necessarily involve known and
unknown risks, including, without limitation : the need for
approvals from the relevant government body; future capital needs
and uncertainty of additional financing; the competitive nature of
the industry; the effects of product development and need for
continued technology change; and those risks set out in the
Company's public documents filed
on www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to revise or update any forward-looking information other than as
required by law.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in policies of the TSXV) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Imex Systems Inc.