Credence Security, a regional distributor of specialised cybersecurity solutions, recently signed an agreement with data-protection vendor, Sealpath to bring its robust privacy and protection solutions to the Middle East, Africa and India (MEAI) region.
A recent report by PwC revealed businesses in the Middle East to be more commonly hit by cyberattacks than their global peers, with 85% reporting an attack, compared with the global average of 79%. In light of this trend and having made significant inroads in European markets, Sealpath decided the time was right for expansion across the MEAI region. In Dubai-based distributor Credence Security, Sealpath’s strategists found an organisation with the right geography and track record of solutions delivery to further its growth ambitions.
As per the new partnership agreement, Credence Security will add Sealpath’s Information Rights Management (IRM) solution to its rich portfolio. Sealpath projects a CAGR of around 22% for the IRM market, following the escalation of data privacy and security regulations across the Middle East and is also hoping to explore untapped markets such as India and Pakistan.
“When selecting a regional partner, we were looking for three main attributes,” said Syed Almas Azam, Territory Manager MEA, Sealpath. “First, we needed to ensure a commonality in ethos between our team and that of our partner. Second, our new partner would have to have a strong portfolio of existing offerings supported by an extensive channel network. And third, we would need to see evidence of exceptional ability to deliver high-quality solutions in the cybersecurity and forensics spaces. Credence Security showed us all of these qualities and we’re excited to embark on this new journey together.”
“Sealpath’s IRM solution will make a great addition to our data protection offerings,” said Garreth Scott, Managing Director, Credence Security. “At a time when demand for data privacy and information security is growing rapidly across the region, we are confident that customers will respond favourably to a solution that is user-friendly, while also being technically and commercially viable. We look forward to the opportunities to cross-sell with other data protection offerings in our portfolio, while supporting Sealpath in its regional growth story.”
Users get access to IRM via standard tools, such as Microsoft Office and AutoCAD, without having to install additional apps. IRM also offers automatic protection for SharePoint libraries, Office 365, Dropbox and G-Suite, as well as emails and attachments through Outlook and Exchange. It integrates seamlessly with AD, LDAP, SIEM, DLP and data-classification tools. Sealpath estimates that IRM will allow regional customers to halve their OPEX costs, freeing them up to divert that investment to innovative digital transformation projects.
Credence and Sealpath both noted the transition in the cybersecurity industry that has accompanied the emergence of the COVID-19 pandemic and the institution of remote-office models around the world. Vulnerable corporate ecosystems are experiencing an increase in cyberattacks, commercial espionage, data breaches, thefts and losses.
“To address these alarming trends,” said Scott, “it is vital that CISOs adopt data-centric postures and monitor sensitive data for situational awareness.”
Sealpath IRM empowers organisations with the ability to see which users are accessing data and when, allowing them to implement effective risk-mitigation practices that revoke access or set expiry dates on files, whether they are at rest, in transit or in use.
“Sealpath serves as the strongest possible line of defence in a layered security strategy,” said Sealpath’s Azam. “We offer security that travels with your files, meaning they are protected at all times and in all states, even if they have left your perimeter.”
The partnership will cover the Middle East, Africa (except Angola and Mozambique), India and Pakistan. Credence Security will concentrate on bringing Sealpath’s innovative IRM solution to industry verticals such as FSI and healthcare enterprises, which must comply with stringent industry regulations that include GDPR, SAMA, NESA, PCI DSS and HIPPA.