Positive Technologies' official statement on the U.S. Department of Commerce sanctions
The announcement by the U.S. Department of Commerce (DOC) is not a new development, and previous similar statements have had little or no effect on our business. All of our plans to grow our business, release new technologies, meet our commitments to customers and partners, and, in particular, enter the public market, will proceed unchanged.
Denis Baranov, CEO of Positive Technologies: "Our global objective is to create products and technologies to improve the overall level of cybersecurity worldwide, as well as to shape an environment that provides maximum resistance to cyberattacks, including internationally. Every one of our developments is strictly protection-focused. The time is ripe to develop tools of this kind, and we shall continue to do so. On what basis the DOC included us in this list, we do not know. In any case, we preempted the sanctions risks ahead of time, and now they pose no additional threats to us."
Positive Technologies is a key player in the cybersecurity market. We know full well that the risk of sanctions hangs over any hi-tech company that stands out in the global market—the greater the success, the greater the pressure. In our case, this risk already occurred—that is, it ceased to be such in the first months of this year. We have not felt any significant impact of this event on our business: the overwhelming share of our revenue (97%) is concentrated in Russia and the CIS, its organic growth averages around 40% annually, and these dynamics remain unaffected by the sanctions. Thus, in May, we unveiled to the market our new generation of products, known as metaproducts, the first of which, MaxPatrol O2, is designed to automatically detect and stop hacker activity in any infrastructure. Also not long ago, the market intelligence firm IDC released a report placing us in the Top 3 global vendors by annual growth in sales of SIEM solutions. Sales of MaxPatrol SIEM climbed by 85 percent 1.
In our almost two decades of experience so far, we have:
- Detected and helped fix a huge number of vulnerabilities in applications and hardware systems built by virtually every big-name vendor, including Cisco, Citrix, Intel, Microsoft, Siemens, and VMware.
- Uncovered the activity of dozens of cybercriminal groups.
- Created more than a dozen products that are used worldwide to protect against hacker attacks.
We firmly believe that geopolitics should not stand in the way of the society's technological development, and will never stop doing what we do best: delivering cybersecurity on a global scale.
- According to IDC's report "Worldwide Security and Information Event Management Market Shares, 2020: SaaS-Focused Rise."
