Intrusion Inc. Announces Acquisition of Minority Stake in Klever AI

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Intrusion Inc. announces acquisition of minority stake in Klever AI, a cutting-edge technology company specializing in AI and ML solutions. The strategic investment aims to enhance Intrusion Shield technology and expand customer reach across various industries.

Financial Analyst

Intrusion Inc.'s decision to acquire a minority stake in Klever AI represents a strategic move to enhance its product offerings and market reach. The use of an all-stock transaction suggests a capital conservation strategy, which is particularly noteworthy given the current economic conditions where cash preservation is paramount. Investors should note that such transactions can dilute current shareholder equity, but may also represent confidence by Intrusion in its stock value. By integrating Klever AI's artificial intelligence and machine learning capabilities, Intrusion aims to improve its existing cybersecurity solutions, potentially increasing the competitive edge of its Intrusion Shield technology. A closer look at Intrusion's financials, particularly its balance sheet and recent earnings reports, would provide further insight into the company's ability to absorb this investment and its expected impact on future revenue streams.

Cybersecurity Expert

The partnership between Intrusion Inc. and Klever AI underscores a trend in cybersecurity towards incorporating advanced AI and ML into security products. Klever AI's expertise across different sectors, including healthcare and finance, is indicative of the broad applicability of AI in enhancing threat detection and response. The ability to generate insights and improve operational efficiency through AI could offer Intrusion a significant advantage in the cybersecurity market. Customers are increasingly looking for solutions that can mitigate sophisticated cyber threats through intelligent and automated systems. This investment could see Intrusion's products become more adaptive and proactive, which is a shift from traditional reactive cybersecurity measures.

Market Research Analyst

Acquiring a stake in an AI firm can be a game changer for a cybersecurity company like Intrusion, provided the integration of new technologies into its product suite is executed effectively. Market trends show an increasing demand for AI-driven cybersecurity solutions. Investors should consider how this acquisition might impact Intrusion's market share and competitive positioning. It's also critical to evaluate the scalability of Klever AI's solutions and the potential to cross-sell enhanced products to existing customers in diverse industries. While this move can lead to innovation and growth, it's also accompanied by risks of integrating complex AI technologies and the need for continuous investment in R&D to stay ahead in a rapidly evolving tech landscape.

Strategic investment to help broaden Intrusion Shield customer penetration

PLANO, TX / ACCESSWIRE / April 22, 2024 / Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, today announced it has agreed to acquire a minority stake in Klever AI, a Houston, TX based artificial intelligence company, in an all-stock transaction.

Klever AI, a cutting-edge technology company at the forefront of the artificial intelligence (AI) revolution, has been helping organizations thrive in the digital age by developing innovative and practical AI and machine learning (ML) solutions that assist in transforming businesses. Klever AI currently operates in a wide range of industries, such as healthcare, security, finance and IoT. The company empowers organizations by using its AI/ML solutions to help unlock valuable insights, drive operational efficiency, and make data-driven decisions with confidence. Over the past two years, Klever AI has been both a partner and a customer of Intrusion, assisting with both the design and development of Intrusion Shield Endpoint and Cloud solutions, as well as incorporating Shield technology as a part of its customer solutions.

"We are excited to make this investment in Klever AI, which will not only continue to help improve our Intrusion Shield technology but also help broaden our customer penetration into multiple industries," said Tony Scott, CEO of Intrusion. "It is our belief that through this expanded partnership, we will be able to use Klever AI's expertise to better position and enhance our suite of Intrusion Shield products capitalizing on the robust opportunities in our evolving marketplace. I'm excited about the collaboration opportunities we will have with Klever AI to help customer's cybersecurity teams better identify, deflect, and eliminate any cyber threats they may encounter."

Shahrzad Ahmadi, CEO & Founder of Klever AI, shared, "This partnership marks a new era for Klever AI as we continue to progress on our mission to develop innovative and practical AI and machine learning solutions that transform businesses. We are excited about the potential this investment provides, the innovation it will facilitate, and the opportunity to expand and further integrate with Intrusion, a proven leader in cyberattack prevention solutions."

About Intrusion Inc.

Intrusion Inc. is a cybersecurity company based in Plano, Texas. The Company offers its customers access to its exclusive threat intelligence database containing the historical data, known associations, and reputational behavior of over 8.5 billion IP addresses. After years of gathering global internet intelligence and working exclusively with government entities, the Company released its first commercial product in 2021. Intrusion Shield is designed to allow businesses to incorporate a Zero Trust, reputation-based security solution into their existing infrastructure. Intrusion Shield observes traffic flow and instantly blocks known malicious or unknown connections from both entering or exiting a network to help protect against Zero-Day and ransomware attacks. Incorporating Intrusion Shield into a network can elevate an organization's overall security posture by enhancing the performance and decision-making of other solutions in its cybersecurity architecture.

About Klever AI

Klever AI is a cutting-edge technology company at the forefront of the artificial intelligence revolution. The Company's passion lies in developing innovative and practical AI and machine learning solutions that transform businesses and empower organizations to thrive in the digital age and gain a competitive edge. With a passion for innovation and a deep understanding of the transformative potential of technology, Klever AI empowers organizations to unlock valuable insights, drive operational efficiency, and make data-driven decisions with confidence.

For more information on Klever AI, please visit https://www.kleverai.com/

Cautionary Statement Regarding Forward-Looking Information

This release may contain certain forward-looking statements, including, without limitation, our expectations for positive results from our recent sales, marketing, and strategic initiatives, which statements reflect management's expectations regarding future events and operating performance. These forward-looking statements speak only as of the date hereof and involve a number of risks and uncertainties, including the risk that our recent sales, marketing, and strategic efforts will not result in increased product awareness or sales of our Intrusion Shield. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, the risk that this financing fails to provide the needed capital for the Company to execute its current business strategies, the Company does not achieve the anticipated results from its current sales, marketing, operational, and product development initiatives, as well as risks that we have detailed in the Company's most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors."

IR Contact:

Alpha IR Group
Mike Cummings or Josh Carroll
INTZ@alpha-ir.com

SOURCE: Intrusion Inc.

View the original press release on accesswire.com

FAQ

What did Intrusion Inc. announce regarding Klever AI?

Intrusion Inc. announced the acquisition of a minority stake in Klever AI, a Houston-based AI company.

What is the significance of the investment in Klever AI for Intrusion Inc.?

The investment aims to improve Intrusion Shield technology and increase customer penetration in various industries.

How has Klever AI been assisting Intrusion Inc. in the past two years?

Klever AI has been a partner and customer of Intrusion, aiding in the design and development of Intrusion Shield solutions.