Samsung Investment made in tandem with Samsung SDS distribution agreement to address fast-growing demand for IoT endpoint security solutions
HOD HASHARON, Israel - June 21, 2021 – Karamba Security announced today an investment made by Samsung Ventures and business collaboration with Samsung SDS to enable Samsung SDS to address its customers’ increasing IoT endpoint security threats. Through the collaboration, Samsung SDS will extend the scope of its cyber security offerings to include protection IoT devices against cyberattacks throughout the device lifecycle.
IoT products are vulnerable to cyberattacks, which impact mission critical operations, customer data loss and end-user safety. Karamba solutions provide unparalleled protection against malicious attacks on devices such as automotive ECUs, energy inverters/meters, and enterprise edge by enabling a secure development process, implementing an application-agnostic embedded intelligent agent, applying cloud-based analytics that detect and respond to cyberthreats.
Samsung SDS, a global systems integrator, selected Karamba Security to address its customers’ needs to protect their IoT devices against cyberattacks. The technical and market evaluation of Karamba’s products and customer traction, resulted in a distribution agreement of Karamba Security’s products and a strategic investment of Samsung SDS in Karamba, via Samsung Ventures Investments.
“We are excited to partner with Karamba Security, to address our customers’ IoT cybersecurity needs”, said senior vice president Jaeil Suh, head of Samsung SDS’ Security Business Unit. “We are well aware of the criticality of protecting tens of millions of IoT devices and Karamba Security solutions are ideal to address such large-scale projects. “Together with Karamba Security, Samsung SDS will deliver a broad range of security services to our customers including IoT endpoint security and we are pleased to add Karamba Security products to our cybersecurity portfolio,” he added.
“Karamba Security is honored to have Samsung SDS as an investor and a distributor for our products,” said Ami Dotan, Karamba Security co-founder and CEO. “We believe in the role the Korean market is taking in IoT and Industrial IoT innovation, and having Samsung SDS as a worldwide partner is going to be key for Karamba’s fast expansion into the IoT markets, and strengthening Karamba’s position as the world leader in IoT endpoint security, throughout the device lifecycle.”
Karamba Security’s products included in this agreement enable IoT device manufacturers to protect their devices against cyberattacks throughout their lifecycle without requiring R&D, supply chain or hardware changes. The products provide a new approach to answer fundamental questions of how to protect IoT devices and enable IoT device manufacturers to comply with industry standards and gain product differentiation without adding costs to their product delivery and support cycles. For more information, visit www.karambasecurity.com
About Karamba Security
Karamba Security is the world leader in embedded endpoint protection for connected devices. Connected device manufacturers in automotive, Industry 4.0, enterprise edge, and IoT r rely on Karamba’s products and services to seamlessly protect their connected devices against cyberattacks. After over 60 successful engagements with Fortune 500 companies, connected device providers trust Karamba’s award-winning solutions for compliance and brand competitiveness when protecting their customers against cyberthreats.
More information is available at www.karambasecurity.com and follow us on Twitter @KarambaSecurity.
About Samsung SDS
Samsung SDS was founded in 1985 as the software arm of Samsung Group, and has been leading digital nnovation and transformation for major clients for over 30 years. With the vision to become a data-driven digital transformation leader, Samsung SDS utilizes advanced technologies such as analytics platforms, AI, blockchain and cloud to serve a diverse range of industries including intelligent manufacturing, global logistics, enterprise mobility, financial services and retail. For more information, visit https://www.samsungsds.com
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