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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 US and Asia that are able to respond
to security attacks within minutes of a DDOS attack. IP-Converge Data
Center Inc., the data center subsidiary of IPVG, has worked with Prolexic to
defend its customers against DDoS attacks for the past two years. The size of
the attacks have ranged from 100Mbps to over 21Gbps and, if not prevented, would have cost millions of
dollars in revenues and lost business opportunities. 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 South East
Asia. IPVG owns three operating subsidiaries in: (i) Information Technology and
Telecommunications (IT&T); (ii) on-line gaming, and (iii) Business Process
Outsourcing (BPO) with presence in the Philippines, Singapore, Vietnam, Hong
Kong and India. For
further inquiries, contact: Investor
Relations:
Antonio
Garcia IPVG Corp.
Tel – (632) 976
4784 Email – tonio.garcia@ipvg.com PR Agency Dominguez Marketing
Communications, Inc. Mel Dominguez mel.dominguez@dominguez.com.ph Justine Bonilla justine.bonilla@dominguez.com.ph back to Press Room>> back to Homepage>> |