Today marks a big step for WhiteHat Security. I am delighted to announce that NTT Security Corporation, one of the world’s most respected security organizations, has signed a definitive agreement to acquire WhiteHat Security. Acquiring WhiteHat positions NTT Security as the one of the most comprehensive pure-play cybersecurity services companies in the world. And without question, joining NTT Security further strengthens WhiteHat Security’s position in the overall security market. Under NTT Security Corporation, WhiteHat Security will continue to operate as an independent, wholly-owned subsidiary.
The acquisition underscores the criticality of application security in the broader security ecosystem as well as the strategic importance of application security to NTT Security’s vision and strategy. Applications have become central to businesses and they are now the #1 reason of security breaches. In fact, as our 2018 Application Security Statistics Report revealed, serious vulnerabilities in application security development or DevSecOps, continue to increase across all major industries. Enterprises are struggling with long windows of exposure to these vulnerabilities, and high times to fix, which has driven up security risk levels over the last 12 months.
WhiteHat has been a leader in Application Security Testing and DevSecOps, providing our customers the ability to secure the applications that run their businesses. By joining forces with NTT Security Corporation and its parent NTT, a global fortune 100 company, we at WhiteHat are well positioned to accelerate product innovation, broaden the solutions we can offer our customers and expand our global reach. Additionally, our customers will gain access to NTT Security’s consulting & advisory services along with their next-generation platform-based Managed Security Services.
And for NTT Security’s customers it means they now can benefit from our industry-leading, cloud-based Application Security Platform globally.
I am excited about the opportunities that lay ahead of us as we continue to invest in our people and technologies. Together, the two organizations have a combined portfolio of cyber-security solutions that comprehensively address the needs of enterprise security that range from IT infrastructure to critical business applications, covering the full lifecycle of digital transformation.