Delivers frictionless, state-of the-art application protection solutions
MAHWAH, N.J., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Radware� (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, announced it expanded its relationship with a Fortune 500 financial services provider in a multimillion-dollar deal. The multinational industry leader extended its investment in Radware�s Application Protection-as-a-Service beyond DDoS protection to include Radware's Cloud Web Application Firewall (WAF), API Protection, and Bot Manager.
Responsible for its customers� public-facing websites, the financial services provider was under constant cyberattacks. To protect its network and application infrastructure along with the millions of merchants and thousands of financial institutions it supports, the provider turned to Radware to increase its cyber defenses across multiple dimensions, including automation, efficacy, and visibility.
�The banking industry is fueled by frictionless customer experiences and high-value, sensitive data, making it an extremely attractive target for cyber criminals,� said Yoav Gazelle, Radware�s chief business officer. �As a leader in merchant banking solutions, a state-of-the-art attack detection and mitigation capacity was critical to this company�s business and reputation. We�ve been able to grow this relationship because we continue to demonstrate that our experience, solutions, and support are aligned with the advanced security and network requirements this industry demands.�
To deliver a higher level of application security with lower false positives, Radware�s Application Protection-as-a-Service combines negative and positive security with automated, machine-learning based algorithms that continuously study application traffic and end-user behavior. The cloud-based service protects against both zero-day and bad-bot attacks.
Radware�s cyber security solutions continue to earn industry recognition. Recently, GigaOm named Radware a Leader and Outperformer in the Innovation Hemisphere of its Application and API Protection Radar report. In addition, the company was recognized as a Product, Innovation, Market, and Overall Leader in KuppingerCole�s 2022 Leadership Compass report for Web Application Firewalls (WAF). Quadrant Knowledge Solutions named Radware a leader in its 2021 SPARK Matrix: Bot Management report.
Radware� (NASDAQ: RDWR) is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection, and availability services to enterprises globally. Radware�s solutions empower enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity, and achieve maximum productivity while keeping costs down. For more information, please visit the Radware website.
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This press release includes �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware�s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as �believes,� �expects,� �anticipates,� �intends,� �estimates,� �plans,� and similar expressions or future or conditional verbs such as �will,� �should,� �would,� �may,� and �could.� For example, when we say that our cloud-based service delivers a higher level of application security with lower false positives, we are using a forward-looking statement. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware�s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions and volatility of the market for our products; natural disasters and public health crises, such as the coronavirus disease 2019 (COVID-19) pandemic; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia�s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; our ability to successfully implement our strategic initiative to accelerate our cloud business; our ability to expand our operations effectively; timely availability and customer acceptance of our new and existing solutions; risks and uncertainties relating to acquisitions or other investments; the impact of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; changes in government regulation; outages, interruptions, or delays in hosting services or our internal network system; compliance with open source and third-party licenses; the risk that our intangible assets or goodwill may become impaired; our dependence on independent distributors to sell our products; long sales cycles for our solutions; changes in foreign currency exchange rates; undetected defects or errors in our products or a failure of our products to protect against malicious attacks; the availability of components and manufacturing capacity; the ability of vendors to provide our hardware platforms and components for our main accessories; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; changes in tax laws; our ability to realize our investment objectives for our cash and liquid investments; our ability to attract, train, and retain highly qualified personnel; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware�s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware�s public filings are available from the SEC�s website at www.sec.gov or may be obtained on Radware�s website at www.radware.com.