CROSSWORD SIGNS LICENSE AGREEMENT WITH CITY UNIVERSITY LONDON TO COMMERCIALISE CYBER RISK ASSESSMENT RESEARCH

Crossword Cybersecurity Plc announces today a license agreement to develop and market a cyber-risk assessment product, based on research led by Professor David Stupples of City University London. Professor Stupples is a Non-executive Director of Crossword Cybersecurity plc. A key challenge facing Chief Information Security Officers (CISOs) is how to evaluate a company’s overall risk of being a victim of cyber-attack and where to focus their investment in cyber defences. City University’s research, based on approaches to making risk-based safety decisions in the nuclear industry, is one of the first structured approaches to quantifying the probability of cyber attack.

Professor Stupples, Director of the Centre for Cyber Security Sciences, City University said: “There has been interest in our cyber risk research for some time from the finance, insurance and transport communities. I am delighted about this deal as we needed a partner like Crossword, with the resources and expertise to develop a product based on our research, so companies can put it into action.”

Tom Ilube, Crossword’s CEO, said “Combining City University’s research with our cyber security software development capability, we are building a world-class cyber risk assessment tool. This tool, which will be delivered as a service (SaaS) available worldwide, will allow organisations to develop a picture of what real cyber threats they face and advise them on how to prioritise investment.”