MANILA, Philippines--(Business Wire)--
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(R) 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.
IPVG Corp.
Antonio Garcia, 632-976-4784 (Investor Relations)
tonio.garcia@ipvg.com
Sheila Rada, 632-976-4788 (Corporate Communications)
sheila.rada@ipvg.com
Copyright Business Wire 2008
