Strategic Acquisition Addresses Urgent Need in Organizations' Ability to Verify and Secure Operational Technology and Software Providers

WASHINGTON, July 30, 2024 /PRNewswire/ -- Exiger, the market-leading supply chain and third-party risk AI company, announced the acquisition of software supply chain risk visibility platform aDolus Technology Inc. This acquisition enhances Exiger's software supply chain visibility capabilities by integrating aDolus' ability to generate software bills of material (SBOMs) and analyze binary for software provenance. This capability extends Exiger's Ion Channel platform for SBOM analysis to binaries that have no SBOMs, as well as device firmware, operational technology (OT) and IoT.

Since SolarWinds and Log4j, attacks, breaches and outages have ripped through corporate networks and headlines. From 2021 to 2025, the incidence of software supply chain attacks are expected to triple, affecting an estimated 45% of organizations. The U.S. Federal Government's actions to mitigate this risk include Executive Order 14028, the Food and Drug Administration's SBOM requirements for medical devices and the Cybersecurity and Infrastructure Security Agency's SBOM guidance. The recent National Security Memorandum 22 also specifically calls out threats to OT.

"While the public and private sector are adopting policies and solutions to address supply chain risks in new software going forward, there's a glaring blind spot when it comes to spotting and rooting out vulnerabilities in operational or legacy technologies," said Exiger President Carrie Wibben. "When you consider that the cost of simply maintaining these legacy systems exceeds $1 trillion, you start to appreciate the scale of the gap in security across our software supply chains. Today, even our largest, most recognizable organizations are trying to bridge this gap in visibility with written vendor questionnaires. But with the acquisition and integration of aDolus, Exiger's customers can independently verify suppliers' attestations about the composition and security of their software."

"Organizations across energy, telecom, manufacturing, defense and other high assurance environments are grappling with these black swan cyber events and regulatory headwinds," said aDolus Founder and CEO Eric Byres. "Working with Exiger over the past year has made clear the enormous need in the market but also the enormous opportunity presented by combining our capabilities to generate SBOMs directly from binary files, uncover hidden third-party risk and expose the full provenance of software components even if they've been rebranded, misattributed or counterfeited."

aDolus leads the market in analyzing operational technology, real-time operating systems and Windows / Linux-based IT software. Its FACT platform delivers high-precision risk analytics, provides results tuned to maximize accuracy, generates retroactive SBOMs for legacy systems and verifies and validates current supplier SBOMs.

"This acquisition allows our customers to 'trust but verify' when it comes to software visibility," said JC Herz, Exiger Senior Vice President of Cyber Supply Chain. "Firmware and OT is packed with proprietary files that don't appear in public package managers or open source data. Vulnerability scanners and DevOps tools have no coverage for these systems. But aDolus has analyzed millions of these proprietary files in industrial operations and with AI can identify their point of origin. We have already used this capability to unmask software suppliers that critical equipment manufacturers didn't know were there."

The combination of Exiger's award-winning AI, the Ion Channel platform and aDolus empowers customers to achieve full cyber supply chain visibility, even in the absence of contractual leverage. This is a game changer for national security customers, and for asset owners in critical industries like energy, telecom, utilities and healthcare.

Cassels Brock & Blackwell LLP served as Exiger's counsel. This transaction complements the 2023 Ion Channel acquisition and follows Exiger's acquisition of Versed AI earlier this month.

About Exiger

Exiger is revolutionizing the way corporations, government agencies and banks navigate risk and compliance in their third-parties, supply chains and customers through its software and tech-enabled solutions. Exiger's mission is to make the world a safer and more transparent place to succeed. Empowering its 550 customers across the globe, including 150 in the Fortune 500 and over 55 organizations across the Defense Industrial Base and government agencies, with award-winning AI technology, Exiger leads the way in ESG, cyber, financial crime, third-party and supply chain management. Named one of Fast Company's 2023 'Brands That Matter' and recipient of the Third Party Risk Association's 2024 Innovator Award, Exiger's work has been recognized by 40+ AI, RegTech and Supply Chain partner awards. Learn more at Exiger.com and follow Exiger on LinkedIn.

About aDolus Technology Inc.

The aDolus FACT platform solves an urgent business need by providing continuous cybersecurity visibility and risk intelligence on software as it flows between vendors/OEMs, asset owners, and security service providers. Its AI-powered aggregation, correlation, and analytics engine secures the software supply chain. Tapping into 25 years of OT experience, FACT provides actionable insights from the correlation of millions of software components across products, product lines, and vendors. Visit us at https://adolus.com.

For more information, please contact:
Kody Gurfein
Chief Marketing Officer for Exiger
1.914.393.0398
kgurfein@exiger.com

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SOURCE Exiger