Press Releases
SECURITY INNOVATION
GROWS IN REVENUES, EMPLOYEES
AND SOLUTION OFFERINGS
Focuses on E-Learning and Development Team Best Practices
in Response to Heightened Demand for Security Knowledge
Wilmington, MA—September 14, 2006 -
Security Innovation, the independent authority on application
security assessment, education and risk mitigation, today announced
that it has experienced substantial growth in revenues and profits
this quarter in response to a growing demand for security services,
products and expertise in the marketplace. Over the course of the
year, the company has expanded worldwide staff by 30 percent and
expects to add another 60 percent to its technical and engineering
staff in the Boston and Seattle offices by year’s end.
These increases are due in part to the emergence of new retail
customers including Coca-Cola and APC to complement
Security Innovation’s existing base of technology vendors and
financial services companies. Additionally, customers are now taking
advantage of Security Innovation’s security education and quality
e-learning series the company has now digitized and is licensing to
organizations for training purposes. Demand for development team
best-practices has also increased sharply. As a result, Security
Innovation is packaging its security guidance and licensing this
intelligence to its clients.
“Although there are many risk mitigation options for the software
management lifecycle, they don’t address the root cause of the
problem—a software development lifecycle (SDLC) that is not
integrating security at each phase,” said Ed Adams, president and
CEO of Security Innovation. “Organizations have had enough of
reactive spending to plug holes and pay the consequences in lost
data and dollars. They are now focusing on proactive investment of
security technologies and training.”
In the last four months alone, Security Innovation executives have
made four keynote appearances at software testing and quality
tradeshows. And another eight industry conference presentations are
in queue for Q4 2006. This clearly illustrates the critical need to
educate the testing and software development communities on
incorporating security into the software development lifecycle.
“We are observing a strong trend toward financial services and
retail companies realizing the importance of integrating security
into their business practices,” said Adams. “Organizations today
want to internalize security best practices and make them part of
their own knowledge retention. To meet this need, Security
Innovation is providing a broader range of educational offerings
geared not just to developers and QA testers, but also to internal
auditors, risk management teams, and other business groups including
purchasing/procurement and management.”
"Security can't wait -- organizations must understand how to plan,
develop and sustain best practices of building more reliable and
secure applications from the upfront initial software requirements
and development phases on through the lifecycle or run costly
risks,” said Melinda-Carol Ballou, program director, application
lifecycle management research, IDC. “Top software development
organizations increasingly are committing resources to the adoption
of best security practices, collaboration across development and
security groups, and comprehensive training in security guidance to
complement automated tools adoption to increase reliability and
security coverage.”
“The key is to build a culture of security and to let it spread to
everyone in the organization,” said Herbert Thompson, Ph.D., chief
security strategist at Security Innovation. “One of the most
effective weapons in corporate IT security is user education.”
About Security Innovation
Security Innovation is the authority on application security and
leading independent provider of assessment, mitigation and training services.
Leading Software and IT organizations including Adobe, Cisco,
Fidelity, IBM, ING, HP, Microsoft, VISA, SAP, Symantec and VeriSign
rely on Security Innovation’s expertise to understand the security
risks in their software systems and facilitate the software, process
and management change necessary to mitigate them. More than
60 percent of the Company’s staff holds advanced degrees in computer
science with 30 percent at the Ph.D. level. The Company is
headquartered in Wilmington, Mass., with offices in Amsterdam, The
Netherlands; Seattle, Wash.; and Melbourne, Fla. For more
information about Security Innovation, visit www.securityinnovation.com or call +1.978.694.1008.
Contacts:
Davida Dinerman or Sadie Anderson
Schwartz Communications, Inc.
(781) 684-0770
sisecure@schwartz-pr.com
