Abu Dhabi-based advanced technology and defence group EDGE has acquired Abu-Dhabi-based OryxLabs, a cybersecurity company known for its tailored solutions.
This strategic move strengthens EDGE's expansion plans in the cybersecurity landscape and enhances its ability to address emerging cyber threats.
OryxLabs has gained prominence for its tailored cybersecurity solutions to safeguard organizations against emerging cyber threats.
The acquisition of OryxLabs offers the opportunity to expand its portfolio and access advanced solutions to address critical pain points in cybersecurity, both locally and internationally.
Mansour AlMulla, Managing Director and CEO of EDGE expressed the importance of this acquisition for the company's growth trajectory. He stated, "EDGE Group's rapid growth and increasing emphasis on creating sovereign capabilities necessitates pursuing opportunities that enhance our capabilities and expand our offerings.
Adding OryxLabs to the Group is a logical step, enabling us to elevate our portfolio of advanced technology solutions. OryxLabs' proven track record and its ability to deliver on advanced solutions will provide tangible benefits to EDGE, our clients, and strategic partners."
EDGE was formed by bringing together 25 of the UAE's defence firms, and its focus is to spearhead the development of advanced weapons for the UAE's military, according to GlobalData's "UAE Defense Market 2023-2028" report.
OryxLabs is currently known for its three proprietary solutions: Vulncano, a tool used to identify malicious actors and discover vulnerabilities within an organization's environment; Discovery, an external attack surface monitoring platform; and DNS Firewall, a system that monitors outgoing DNS traffic to ensure endpoint devices do not access malicious websites.
Since its establishment in 2020, OryxLabs has adopted a strategy focused on high scalability, rapid innovation, and engineering prowess to address complex cybersecurity issues. The company specializes in crafting modular solutions that cater to the unique needs of its clients.
With the acquisition of OryxLabs, EDGE further strengthens its position in the global cybersecurity landscape. Integrating OryxLabs' advanced solutions will enable EDGE to deliver cybersecurity services to its clients, ensuring their critical assets remain protected in an increasingly digital world.
With the acquisition of OryxLabs, EDGE is meeting the growing demands of organizations seeking advanced cybersecurity measures.
GlobalData's "The Global Governmental Cybersecurity Market Forecast 2020-2030" states that the global government cybersecurity market is expected to register a CAGR of 8.01%, growing from US$20.3 billion in 2020 to US$43.8 billion by 2030.
