FOR IMMEDIATE RELEASE
IPVG Completes Prolexic Technologies Acquisition
MANILA, PHILIPPINES – February 13, 2008 – Publicly-listed IT company IPVG Corp. (PSE: IP) today announced it had completed the acquisition of Prolexic Technologies Inc. (Prolexic), a United States-based managed security service provider of distributed denial of service (DDoS) mitigation solutions. The acquisition represents IPVG’s roadmap of growing the company in key areas in the IP domain and global market. IPVG now offers a unique DDoS protection value proposition for customers of all industries, worldwide.
"Our investment in Prolexic gives IPVG ownership of a propriety platform for DDoS mitigation that has a global application,” said Enrique Y. Gonzalez, CEO of IPVG Corp. “Prolexic has established itself as a clear leader in DDoS mitigation, and combining this with IPVG's data center infrastructure and access to new markets will translate to a unique offering for our target customers around the world.
Gonzalez continued, “DDoS attacks have increased in size and frequency by more than 200 percent over the last 12-months. The continued growth of the Internet translates to sustained demand for secure hosting environments and Internet security services. With Prolexic, we can make the Internet a safer place.”
“Prolexic has led the DDoS mitigation sector for many years,” said Keith Laslop, Prolexic president. “We were the first to offer DDoS scrubbing centers in all major global regions. We have combined the industry’s most advanced and sophisticated mitigation technology with the world’s largest dedicated DDoS mitigation network. Joining forces with an aggressive company such as IPVG will allow Prolexic to extend its market leadership worldwide in the continuing arms race against DDoS attackers.”
Worldwide DDOS Market Threat
A DDoS attack occurs when a network or web service is rendered unavailable or inaccessible to its intended legitimate users, either temporarily or permanently, usually by flooding the target system with high volumes of traffic. Perpetrators of DDoS attacks typically target sites or services hosted by high-profile institutions such as those from the financial services sector, payment gateways, government sites, websites of major corporations, entertainment sites and the media.
According to the Computer Security Institute, there are as many as 10,000 DDoS attacks occurring worldwide each day– the size of which go beyond 10 Gbps at times– and the likelihood of an organization experiencing an attack is growing. Without any warning, websites and web applications can be taken down, cutting off customers, partners and suppliers. The FBI/Computer Security Institute 2007 study indicated that the loss of revenue attributed to DDoS in just an hour could be $90,000 for a sales catalog company to $6,450,000 for a retail brokerage
Prolexic has Global Security Operations Centers in Europe, the
In its July 2007 Zombie Report (http://prolexic.com/zr/zombie_july_2007.pdf), Prolexic noted that Cyber criminals target organizations for financial gain, competitive advantage, corporate sabotage or ideological opposition. Their methods get more sophisticated, and more powerful, as businesses increase their security. Cyber criminals are determined and clever at targeting organizations and devising new attack strategies; it is truly a war of attrition.
About Prolexic
Prolexic Technologies provides cutting edge solutions that protect Internet operations from the debilitating service disruptions caused by DDoS attacks. Prolexic’s patent-pending Clean Pipe Virtual Transport® network offers solutions that keep its clients’ internet-facing infrastructures free of DDoS traffic. Without making major adjustments or multimillion-dollar investments in their existing hardware infrastructures, Prolexic’s customers rest assured that their network borders are secure and can thus focus on what is really important: their businesses. More information about Prolexic is available at www.prolexic.com
About IPVG
IPVG (www.IPVG.com) is publicly listed on the Philippine Stock Exchange (PSE Ticker Symbol: IP) and engaged in the information technology and communications space in
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