cyan AG

  • WKN: A2E4SV
  • ISIN: DE000A2E4SV8
  • Land: Deutschland

Nachricht vom 25.03.2020 | 08:30

cyan AG and Vara Technologies sign cooperation agreement for India

DGAP-News: cyan AG / Key word(s): Expansion
25.03.2020 / 08:30
The issuer is solely responsible for the content of this announcement.

cyan AG and Vara Technologies sign cooperation agreement for India

  • Strong demand in India for efficient, highly scalable cyber security solutions for mobile devices
  • cyan products will be placed to Indian mobile network operators (MNOs) and insurance companies via Vara Technologies' distribution network

Munich, March 25, 2020 - cyan and the IT company Vara Technologies, which belongs to the Indian Kanoria Group, have concluded a strategic cooperation. Vara Technologies will offer cyan's highly scalable security solutions, in particular to the end customers of mobile network operators (MNOs) and insurers. Both partners see great demand for cybersecurity in the Indian subcontinent.

Peter Arnoth, CEO of cyan AG: "The partnership combines the strengths of Vara Technologies and cyan AG. Vara Technologies has positioned itself in the Indian market in recent years as a strong brand in the IT segment and has made an excellent name for itself with customers such as Microsoft, Cisco, Intel and Oracle. By combining this market strength with our first-class cyber security solutions, we can exploit the great potential of the Indian market."

Col. Inderjit Singh, Chief Cyber Security Officer of Vara Technology: "We are happy to partner with cyan and address real-world cyber threats and challenges in the security domain. The goal of this long-term partnership is to offer clients innovative digital security solutions. To this end, Vara Technology will contribute its industry experience especially in those areas where we see massive demand for cyan's digital security solutions in the Indian market."

About Vara Technologies:

Vara Technology is an IT company from India that offers a wide range of products in the IT sector. These include cloud services for cybersecurity, artificial intelligence, Internet of Things, but also electronic customer checks (eKYC) or claims settlement for insurance companies using block chain technology. Vara Technologies has around 3,000 employees and its headquarters are in Mumbai. Vara Technologies' customers include the world's leading software companies.

About cyan:

cyan (XETR:CYR) is a leading global provider of intelligent, white-labeled IT security solutions and telecom services, with more than 15 years of experience in the IT security industry. The company's primary business lines include the provision of cyber security solutions for end customers of mobile network operators and fixed-line internet service providers (MNO), for mobile virtual network operators (MVNO) as well as for the banking sector and insurers. cyan's solutions are integrated into the business partner's infrastructure and then offered under its own name ("white-labeled") to its end customers ("B2B2C").

Today, the group has more than 50 international customers, through whom cyan's products are sold to around 8 million end customers. cyan offers a service along the entire value chain, from the platform to data optimization and cyber security. The company also operates its own research & development center with the goal of recognizing trends in the industry at an early stage and to create the best possible product solutions. In December 2018 cyan concluded a global group contract with Orange for its cyber security solutions. Cooperation partners include Aon, the world's leading insurance broker, and Wirecard, the payment service provider.

Further information is available at www.cyansecurity.com

Investor Contact

Florian Rukover, Head of IR

cyan AG

florian.rukover@cyansecurity.com

Press Contact

Frank Ostermair

Better Orange IR & HV AG

frank.ostermair@better-orange.de



25.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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