2015 has been a record year for M&A because of the highest-ever deal values in the US and in Asia being made, which resulted in deals worth more than $1 trillion in three consecutive quarters and this is set to continue in 2016. bobsguide spoke to Jay Abbott, chief technology officer at Falanx, about financial technology and cybersecurity, focusing on its importance when undergoing the merger and acquisition process.
Smaller companies at increased risk
Abbott explored that those companies that are present and active within the technology sector are at increased risk of being targeted. “An interesting thing that people don’t really know in this space is how companies in fintech are specifically targeted by a number of entities that will attack them pre-merger or pre-acquisition, when they look especially ripe for takeover and will remain dormant within the organisation until the takeover occurs.”
Security needs to be taken more seriously in order to determine the success of the company and Abbott spoke about how certain hacker groups attempt to gain access to those organisations that are smaller and in turn, less secure because they have a smaller budget to spend on precautionary measures. The hackers can then infiltrate the larger corporation after the merger with or acquisition of the smaller company has taken place. For the full article click here
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