Latest news with #Darktrace
New York Post
09-05-2025
- Business
- New York Post
Top secret files which sunk with Bayesian yacht raided by MI6 in James Bond style mission: report
A James Bond-esque mission to recover highly sensitive secret files held in safes aboard the sunken super-yacht Bayesian was reportedly carried out by UK intelligence service MI6 before Italian divers could get to them. The top secret documents related to yacht owner Mike Lynch's Darktrace cybersecurity company, which has contracts with UK, US and Israeli intelligence agencies, according to a report in the Italian press. It is not associated with Autonomy, the company he sold to compluting giant Hewlett Packard for $11 billion in 2011. Sources close to the Italian investigation claimed British MI6 agents removed sensitive computer equipment and data belonging to Lynch — one of seven people killed in the sea tragedy last August — from the shipwreck, before the Italian authorities started to send divers to recover it this week. 8 The 56m (184ft)-long sailing vessel is still on the seabed and was expected to be recovered in May. NY Post Composite 8 The yacht will be brought off the ocean floor in the coming weeks as part of a criminal investigation. REUTERS 8 The top secret information could be of interest to foreign governments, prompting prosecutors to request that the yacht be guarded by both above-surface and underwater surveillance… but they may have been too late. REUTERS 8 The yacht sank off the coast of Porticello, Italy, when it was hit by a storm. R – 8 British tech tycoon Mike Lynch was identified as one of the bodies pulled from the wreckage. His teenage daughter, Hannah, was the final one to be recovered. Tancredi Group The pre-emptive action — reportedly unauthorized by Italian authorities — saw the removal of computers, hard drives and encrypted devices from the vessel in a real-life mission reminiscent of Bond, the fictional British super spy. The Bayesian is currently 50 meters (164 feet) below the surface off the coast of Porticello, according to Tiscali, a news site founded by prominent Italian politician Renato Soru, which broke the story. Shipwreck survivors previously told prosecutors that Lynch — a tech tycoon dubbed the British Steve Jobs — 'did not trust cloud services' and always kept data drives in a secure compartment of the yacht wherever he sailed. The Bayesian was believed to contain the trove of top-secret documents and confidential data on foreign governments held in the ship's hull in a series of waterproof safes. Lynch was a key figure in Western intelligence circles who served as an adviser to two British prime ministers on science, technology and cyber security. Darktrace maintained ties with MI5, MI6, US, and Israeli intelligence agencies, accroding to Tiscali. Italian prosecutors had ordered heightened security around the sunken boat to protect the sensitive information shortly after it sank on Aug. 19, sources previously told CNN. However, it's now believed the MI6 agents had already moved in and got the data out before their Italian counterparts had been deployed. Among the loot was two super-encrypted hard drives that hold highly classified information, including passcodes tied to the intelligence services, an official involved in the salvage plans told the network. 8 Tech billionaire Mike Lynch had been celebrating his acquittal in a US fraud trial with his lawyers when the Bayesian yacht went down. REUTERS Marine salvage experts started a $30 million dollar operation — which will be bankrolled by the Bayesian's insurer — to recover the wreck earlier this month. Tragedy struck again on Friday after it was anounced a 39-year-old Dutch diver who was part of the rescue operation had died underwater while working on the operation to bring the ship's hull to the surface, the BBC reported. There were 10 crew members and 12 guests onboard the 'unsinkable' ship which rapidly plunged to the bottom of the sea on the night of August 19, 2024, during a freak storm. Human error as well as the violent storm contributed to the sinking of the $37 million luxury craft, which took less than 16 minutes, according to authorities. 8 Officials believed top-secret information was in water-tight safes aboard the sunken Bayesian superyacht. Three crew members of the Bayesian are officially under investigation for crimes including negligence, recklessness and failing to save the ship from an oncoming storm, according to Italian prosecutors. However, no criminal charges will be formally made until the vessel has been raised and its hull investigated, according to police. Manslaughter charges also remain on the table, prosecutors have previously warned. Those killed in the wreck were Lynch — who was hosting the group to celebrate his acquittal in a multibillion-dollar fraud trial that had taken place in San Francisco related to the sale of Autonomy — his 18-year-old daughter Hannah, Manhattan lawyer Chris Morvillo and his wife, Neda, Morgan Stanley International bank chairman Jonathan Bloomer and his wife, Judy, and the ship's chef, Ricardo Thomas. One of the survivors was Lynch's wife, Angela Bacares, who controls the company that owns the British-flagged vessel.
Time Business News
09-05-2025
- Time Business News
What's Next in 2025: Emerging Trends in Cyber Defense
If 2024 felt like a wild ride in artificial intelligence, 2025 is shaping up to be even crazier. Unfortunately, this thrilling technology brings forth new cybersecurity threats, too. Attackers are getting smarter, faster, and harder to trace. AI is no longer just helping defenders—it's now fueling cybercrime, too. With more remote work, cloud apps, and connected devices, the attack surface just keeps expanding. What does that mean for your security operations? What worked last year might not be good enough this year. In this post, we'll break down the emerging trends in cyber defense that are shaping 2025, so you're in a better position to safeguard yourself against new threats. AI is fast becoming the frontline defense. Security tools powered by machine learning are getting better at spotting subtle threats. Think: weird login patterns, data transfers that feel 'off,' or insider behavior that breaks the norm. Instead of drowning in alerts, AI helps you focus on the ones that actually matter. AI doesn't replace people. It just gives your cybersecurity or IT team a smart assistant that never sleeps. That is: Use AI-driven platforms for threat detection—look for tools that adapt over time (like Microsoft Defender XDR, Darktrace, or CrowdStrike Falcon). Feed these tools good data from across your environment: endpoints, network, email, and cloud. Finally, combine AI insights with expert human review—don't fully automate decisions that affect sensitive data or systems. By now, most teams know the phrase 'Zero Trust.' But in 2025, it needs to become a daily practice. It's no longer an optional nice-to-have. Zero Trust is a solid strategy in blocking unauthorized users. It's equivalent to continually verifying everything—who's accessing what, from where, and why. And now, it's getting smarter. Think: just-in-time access, device health checks, and user behavior scoring. In short? Blanket permissions are out. Precision is in. Here's how: Move beyond basic MFA—layer in device trust and location-based rules. Use microsegmentation to isolate high-value systems from the rest of your network. Limit access by default, and grant permissions dynamically based on context (e.g. time of day, user role, threat level). Audit access logs regularly and remove stale accounts or over-permissioned roles. Quantum computing isn't mainstream yet—but it's coming fast enough that cyber teams are starting to prep. Why? Because once quantum tech hits a certain threshold, it could crack the encryption we rely on today. That means sensitive financial, healthcare, and government data needs to be future-proofed now , not when it's too late. 2025 is the year prudent organizations start planning for post-quantum security. Here's how: Inventory where encryption is used in your systems—TLS, VPNs, databases, file storage. Keep an eye on NIST's post-quantum cryptography standards and approved algorithms. Talk to your vendors—ask if their products are quantum-ready or have a roadmap. If you're building in-house systems, consider hybrid encryption methods to bridge the gap. No matter what you do, you can't prevent an attack. But you can do your best to survive them and come out alright. Even the best defenses can't stop every breach. That's why the focus is shifting toward cyber resilience—how fast you detect, contain, and recover. It's about limiting damage and keeping your business running, even under pressure. Think of it as building a safety net, not just a wall. Here's how enterprise teams are aiming to become more resilient: Create a playbook for ransomware and other high-impact scenarios—who does what, when, and how. Back up critical systems regularly, and store backups offline or in immutable cloud storage. Test your recovery process often. A backup that takes 3 days to restore won't help during an outage. Align IT and business teams to make sure recovery plans match real-world needs (not just tech checklists). Governments and industry bodies are ramping up requirements around breach reporting, vendor disclosures, and data protection. Financial services, healthcare, and critical infrastructure are under the microscope. And with global coordination rising, even small orgs can't afford to ignore compliance. What used to be 'best practice' is quickly becoming law. So, stay ahead by tracking regulations like the EU's NIS2, the U.S. SEC cyber rules, or Canada's PIPEDA updates. Review how you report, escalate, and log security incidents—this is now a compliance issue, not just a technical one. Make sure your vendor agreements include security and breach notification clauses. Also, consider appointing a compliance officer (or fractional CISO) if you don't already have one. 95% of breaches originate from a human blunder. And let's be honest—nobody learns anything from boring security videos. In 2025, human-centric security is finally getting smarter. Instead of generic, checkbox training, companies are using role-specific, gamified, and ongoing education to build real awareness. Because phishing isn't going away, and insider threats are still a thing. Knowing the risks is one thing. Knowing how to react is another (and more important). So, it's time to: Customize training for different teams. What devs need to know is not the same as what HR needs. Use AI-based platforms that simulate phishing attacks and reward good behavior. Build a 'security champions' program. Get employees involved in promoting good habits. Make reporting easy. One-click phishing reports can save your team hours of investigation. 2025 won't reward the companies that play defense. It'll reward the ones that plan, adapt, and act early. Cyber threats are evolving fast, but so are the tools, strategies, and mindsets that can stop them. Whether it's AI-driven defense, quantum-proofing, or better training, the best security teams are staying one step ahead by not just checking boxes. Start small. Pick one or two of these trends and turn them into action. Waiting like a sitting duck is the real risk. TIME BUSINESS NEWS
Yahoo
02-05-2025
- Business
- Yahoo
Climb Global Solutions Inc (CLMB) Q1 2025 Earnings Call Highlights: Strong Growth in Gross ...
Gross Billings: Increased 34% to $474.6 million compared to $355.3 million in the prior year quarter. Distribution Segment Gross Billings: Increased 36% to $453.6 million. Solution Segment Gross Billings: Increased 2% to $21 million. Net Sales: Increased 49% to $138 million compared to $92.4 million. Gross Profit: Increased 37% to $23.4 million compared to $17 million. Gross Profit Margin: Increased to 4.9% from 4.8% in the prior year quarter. SG&A Expenses: $16.8 million compared to $12.5 million, with DSS accounting for $1.1 million of the increase. Net Income: Increased 35% to $3.7 million or $0.81 per diluted share compared to $2.7 million or $0.60 per diluted share. Income Tax Expense: Decreased 37% to $600,000 with an effective tax rate of 13.3%. Adjusted Net Income: Increased 39% to $3.9 million or $0.86 per diluted share. Adjusted EBITDA: Increased 38% to $7.6 million compared to $5.5 million. Adjusted EBITDA Margin: Increased to 32.7% from 32.5%. Cash and Cash Equivalents: $32.5 million as of March 31, 2025. Outstanding Debt: $600,000 with no borrowings under the $50 million revolving credit facility. Quarterly Dividend: $0.17 per share declared, payable on May 16, 2025. Warning! GuruFocus has detected 3 Warning Sign with CLMB. Release Date: May 01, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Climb Global Solutions Inc (NASDAQ:CLMB) reported a 34% increase in gross billings for Q1 2025, reaching $474.6 million compared to the previous year. Net sales increased by 49% to $138 million, driven by organic growth and contributions from the acquisition of DSS. The company signed a significant contract with Darktrace, a cybersecurity firm, which has already generated a $30 million pipeline in potential gross bills. Climb Global Solutions Inc (NASDAQ:CLMB) is making progress with its new ERP system, improving efficiency and transactional speed across global operations. The company declared a quarterly dividend of $0.17 per share, reflecting confidence in its financial health and commitment to returning value to shareholders. SG&A expenses increased to $16.8 million from $12.5 million, with DSS accounting for $1.1 million of the increase. The company faces challenges in filling the gap left by the loss of Citrix as a vendor, although mitigations are underway. Despite growth, the company acknowledges that some vendor relationships, like with Darktrace, take a long time to develop and execute. The economic environment remains uncertain, and while tariffs have not significantly impacted the company yet, they remain a potential risk. The integration of acquired companies into the ERP system has been a complex process, though it is now largely complete. Q: Were there any large deals in the quarter that you may want to call out, or was it broad-based demand? A: It was pretty much broad-based. We did have the additional advantage of DSS, but nothing specific stood out for Q1. Our bigger brands are growing at a higher rate, and some emerging brands are also performing well. - Dale Foster, CEO Q: Has there been any change in sentiment given the uncertain economic environment, and how might tariffs impact your business? A: We haven't seen a significant impact from tariffs as over 80% of our business is in the US, and we deal in US dollars. Overseas, most of our business is in the UK and Ireland, so the impact is minimal. - Dale Foster, CEO Q: Are you starting to see some of the synergies you were hoping for in Europe? A: Yes, we are seeing synergies. We have reorganized our team in Europe, and all divisions are now on one ERP system, which is positive for our operations. - Dale Foster, CEO Q: Did organic growth in April trend as it did in Q1? A: We don't typically discuss future specifics, but we are excited about our relationship with Darktrace, which officially launched on April 1st. This partnership is expected to significantly contribute to our growth. - Dale Foster, CEO Q: Are there any additional remarks or updates? A: A big shout-out to the Climb team for their efforts with the ERP system. We are now focused on fine-tuning our operations, and everything is moving in the right direction. - Dale Foster, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Zawya
29-04-2025
- Business
- Zawya
Stc Bahrain sponsors CyberX Bahrain 2025 and showcases cybersecurity expertise
Manama, Bahrain – stc Bahrain, a digital enabler, successfully concluded its participation in CyberX Bahrain 2025, the region's premier cybersecurity summit. The event brought together industry experts, government entities, and business leaders to address pressing challenges in cybersecurity and explore advanced solutions for safeguarding digital ecosystems. stc Bahrain's sponsorship reinforced its commitment to enhancing Bahrain's cybersecurity landscape and empowering organizations to operate with greater confidence in their digital environments. As a Gold Sponsor of the event, stc Bahrain showcased its advanced cybersecurity services and solutions, emphasizing its role as a trusted partner in delivering end-to-end protection for businesses and government entities. By leveraging global partnerships and locally supported services, stc Bahrain demonstrated its dedication to driving innovation and resilience across Bahrain's digital ecosystem, aligning with the Kingdom's Vision 2030 goals for technological progress and economic diversification. Hesham Mustafa, Chief Business Officer at stc Bahrain, commented , "At stc Bahrain, we are focused on delivering advanced security solutions tailored to address the unique challenges organizations face today, which is backed by local expertise. Our participation echoes our drive to empower businesses and government entities to innovate confidently while supporting Bahrain's vision for technological advancement." During the summit, stc Bahrain engaged directly with industry leaders and demonstrated its integrated cybersecurity solutions through live showcases. These solutions were developed in collaboration with leading global cybersecurity innovators, including CybelAngel, Darktrace, Yogosha, and Trend Micro. Each partner brought unique expertise in areas such as external threat intelligence, AI-powered detection, ethical hacking, and enterprise security, reinforcing stc Bahrain's position as a trusted provider of a comprehensive cybersecurity suite of services. The successful conclusion of CyberX Bahrain 2025 further highlights stc Bahrain's leadership in the cybersecurity space and its commitment to equipping organizations with the tools needed to navigate the evolving threat landscape. The company remains dedicated to supporting Bahrain's digital transformation efforts and advancing the Kingdom's position as a regional hub for technological innovation.
Telegraph
15-03-2025
- Business
- Telegraph
Britain's best ideas make foreign companies rich, warns Games Workshop founder
The founder of Games Workshop has said Britain is becoming a 'work-for-hire nation' that sells many of its most valuable ideas to overseas companies rather than nurturing them at home. Sir Ian Livingstone, a British gaming pioneer who helped bring titles such as Tomb Raider to living rooms, said it was 'difficult in this country to scale companies to become global competitors'. 'We are wonderful at creating intellectual property,' Sir Ian said. '[We have to move] further up the value chain, of IP [intellectual property], of more revenue taxed in this country rather than being sent overseas to foreign owners and we end up being a work for hire nation.' Sir Ian was talking specifically about the video game industry but his comments could equally apply to technology more broadly. A string of British tech companies have been taken over by foreign businesses in recent years, including Darktrace, Arm and Graphcore. The deals have fuelled concerns that British companies lack the financial support needed to stay independent. There are separate concerns that government policy around artificial intelligence (AI) will favour foreign tech companies at the expense of British creative industries. Intellectual property laws are being rewritten to allow AI companies to hoover up data from artists and writers as part of the Government's attempt to drive growth. However, authors, musicians and Labour's own union backers have warned that the changes will make tech companies in Silicon Valley rich while hollowing out Britain's creative industries. Sir Ian has been dubbed the 'first knight of the nerds' after becoming the first person in Britain to be knighted for service to video games in 2022. He was chairman of Playdemic, the maker of the popular smartphone game Golf Clash, which was sold to Warner Bros. for $7.2m (£5.6m) in 2016, five years before Electronic Arts paid $1.4bn for the company. He also chaired Sumo Group, a gaming group that helped to develop the popular game Hitman, before it was sold to China's Tencent in 2021. Gaming companies including Codemasters, Mediatonic and Jagex have also been sold in recent years. Grand Theft Auto, the world's most successful video game, was developed by Scotland's DMA Design before it was sold to New York's Take Two in the late 1990s. Sir Ian said: 'I often say to ministers, 'What's the common denominator between Grand Theft Auto, Tomb Raider, Football Manager, Golf Clash and Fall Guys?' They say, 'Well, they're all created in the UK.' And I say, 'Yes, they were – but they're all foreign owned.' 'We're so good at making games. And yet we end up selling our companies quite soon.' Successive governments have tried to keep home-grown tech businesses in Britain for longer. David Cameron announced plans to turn east London into a 'tech city' in 2010. Jeremy Hunt, the former chancellor, vowed to make Cambridge Europe's answer to Silicon Valley in 2023. Rachel Reeves, the current Chancellor, repeated the ambition in January. However, video games still struggled for recognition despite industry figures suggesting the sector supports 73,000 jobs and billions in economic value. Sir Ian said: 'Video games has always had a tougher profile. It used to be seen as a domain of young boys in particular, locked away in their bedrooms doing something that their parents never did. 'Clearly you cannot ignore the size of the industry. But as a profession, it's always been seen as a bit weird, I think, because people will see that games are for children, and therefore it can't ever be a proper job.' Last month, the gaming lobby group Ukie warned that the UK was becoming an 'incubator economy' due to a lack of financing, meaning ideas are developed here but cannot grow and must seek funding overseas. Ukie has called for more tax relief for smaller developers to support the sector. Sir Ian called for more public support from ministers. He said: 'Whenever you see a senior minister in a photo opportunity, it's usually wearing a hard hat and a high-vis jacket outside some wood chip factory that's probably failing. You never see them inside a game studio.' He pointed out that Sir Demis Hassabis, the Nobel prize winning computer scientist behind Google's artificial intelligence lab DeepMind, got his start in video games. Sir Demis, who is British, developed the simulation game Theme Park as a 17-year-old. As well as his work in the video game industry, Sir Ian was also a co-founder of Games Workshop, a rare example of a home-grown success story. The company invented the table top model game Warhammer, which has become a global success and helped turn Games Workshop into a £4.8bn company. Sir Ian and two friends founded the company in 1975, selling board games from a flat in Shepherd's Bush, west London, and then from a camper van. The company's break came when an obscure fanzine published by Sir Ian found its way into the hands of Gary Gygax, the inventor of the fantasy game Dungeons and Dragons, which led to Games Workshop securing its European distribution rights. Other successes such as Warhammer followed. Games Workshop is now a FTSE 100 company, worth more than easyJet and Burberry. In December, the company announced that it had reached a deal with Amazon to develop a series based on Warhammer 40,000, the futuristic spin-off of the fantasy series, to be produced by Superman's Henry Cavill. Sir Ian sold his shares in Games Workshop as part of a £10m management buyout in 1991 and went on to run the video games developer Eidos, which developed the Tomb Raider games and the hugely successful Championship Manager series. Given his view on British companies selling out too soon, does he now regret selling his Games Workshop stake when he did? 'No, you should never look back,' he said. 'We look on as proud parents.'
