FLX.L Share News (FLX)

(ShareCast News) - Global intelligence, security and cyber defence provider Falanx Group announced the establishment of Falanx Cyber Technologies on Monday, which it said had been created in order to gain "significant commercial advantage" from the management of advanced cyber threats.The AIM-traded company said the unit would use knowledge gained in Falanx Cyber Defence, its managed service business, to develop and produce a range of proprietary technology to continuously improve its 'security-as-a-service' offering.It would also distribute through channel partners to the wider SME and major enterprise market.The technology development hub led by Jay Abbott, executive director - cyber defence, was now fully established in Falanx's new Cyber Defence Centre in Birmingham, the board reported.It said new technology was rapidly prototyped as a consequence of the intelligence generated by its assessment, monitor and response teams, and those new technologies were deployed as part of its managed service and productised for distribution through its channel partnerships.That form of rapid technology development, based on real-time operations, carried an extremely low cost, the board said, and Falanx therefore remained on track to achieve profitability and positive cash flow next financial year"The development of our own technology is a direct result of working alongside our clients and dealing with real-world issues, not isolated in a software laboratory," said Jay Abbott."We therefore see the latest threats as they emerge and create real, effective, solutions which advance our technology and benefit all of our clients and partners."