SOURCE: IOActive, Inc.

IOActive, Inc.

May 24, 2011 12:32 ET

IOActive Acquires Argeniss Security and Names Cesar Cerrudo as Chief Technology Officer of IOActive Labs

IOActive Expands Team and Funding of the IOActive Labs Division

SEATTLE, WA and LONDON--(Marketwire - May 24, 2011) - IOActive -- the global leader of information security services and research, today announced that on May 11th, 2011 it finalized the acquisition of the world-class security research firm Argeniss Security, based in Argentina. As part of this acquisition, Argeniss' CEO and Founder, Cesar Cerrudo, has been appointed to lead IOActive's strong research and development team as Chief Technology Officer of IOActive Labs. In this role, Cerrudo will lead the IOActive Labs' growing team in continuing to produce cutting edge research in the areas of SCADA, mobile security, embedded devices, application security and more.

Over the past 13 years, IOActive has continued to expand their realm of research with a mission of improving the security of systems and infrastructure that people rely upon day-to-day. Throughout 2010, IOActive grew exponentially in the North American and European markets -- increasing revenue twofold and enabling the creation IOActive Labs. Established with mission of bringing together some of the brightest minds to take on some of the industry's most formidable challenges, IOActive Labs has already released a body of work that includes work presented directly to the Department of Homeland Security.

Just one year after its creation, IOActive is doubling its investment in the R&D team and infrastructure. In this newly created role of CTO for IOActive Labs, Cerrudo will focus on expanding not only IOActive's research team and domain but establish vehicles designed to offer independent researchers the ability to participate as well. Additional investments are also being made to IOActive's research facility in Seattle, WA., an established lab that already houses one of the world's fastest super computers, with the addition of critical technologies such as a Focused Ion Beam system (FIB) for the Labs' hardware arm.

"The industry's focus on defensive measures will never provide a bullet-proof layer of protection so we must continue to push the envelope and change how we protect what we consider valuable. We are thrilled to be in a position to invest in the IOActive Labs mission and are excited to have Cesar join us at the helm. As a trusted partner to IOActive for over five years, Cerrudo not only shares our passion for research but also possesses the ability to grow and lead our world class research division," said Jennifer Steffens, Chief Executive Officer at IOActive.

"I am confident that with the funding IOActive has placed in the Labs, we will be able to successfully execute on our ambitious goals for the upcoming years," said Cesar Cerrudo, CTO of IOActive Labs. "This is an exciting phase in IOActive's evolution. I am eager to own this new challenge and couldn't imagine a better home than with the IOActive team." Regarded as a leading security researcher, Cerrudo is credited with discovering and helping fix dozens of vulnerabilities in applications Microsoft, Oracle, IBM, Yahoo! and more.

About IOActive
Established in 1998, IOActive is an industry leader that offers comprehensive computer security services with specializations in smart grid technologies, software assurance, and compliance. Boasting a well-rounded and diverse clientele, IOActive is a trusted advisory to many of the Global 500 companies including power and utility, hardware, retail, financial, media, aerospace, high-tech, and software development organizations. As a home for highly skilled and experienced professionals, IOActive's talented team continuously contribute to the growing body of security knowledge by speaking at such elite conferences as Black Hat, Ruxcon, Defcon, BlueHat, CanSec, and WhatTheHack. For more information, visit www.ioactive.com.