Security Sales & Integration April 2021 - 19

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Cyberattacks on Schools Spiked in 2020
Likely Due to Pandemic
▶ WASHINGTON D.C. - Cyberattacks on school districts across the United
States spiked 18% year-over-year in 2020,
as " schools increased their reliance on
technology tools for teaching and learning over the course of late spring and early summer months, " a new report states.
The surge is likely due to the greater reliance on classroom technology during the
coronavirus pandemic, according to " The
State of K-12 Cybersecurity: 2020 Year in
Review, " published by the K-12 Cybersecurity Resource Center and the K12 Security Information Exchange.
The report cites there were 408 publicly disclosed cyberattacks on U.S. schools
during the 2020 calendar year. That
amounts to more than two attacks per
school day. It is also the highest number

Study: 40% of SMB Websites
Are Attacked Monthly

A new report details a preponderance of
cyberattacks on schools throughout the
U.S. during the 2020 calendar year.

of attacks since the K-12 Cybersecurity
Resource Center first began tracking cyber incidents in 2016.
While denial-of-service attacks were

▶ ROSELAND, N.J. - A new study by cybersecurity provider
Sectigo reveals that 20% of small- to medium-sized businesses
(SMBs) have experienced a breach in the past year, even though
nearly three-fourths believe their companies are mitigating risks
effectively. The new report details this perception gap, along with
methods and frequency of SMB website attacks, the impact of
breaches, security technologies in use, and expected website security spending for 2021.
In its inaugural " State of Website Security and Threat Report, "
Sectigo surveyed more than 1,100 website security decision makers at SMBs and found that a significant number of businesses do
not feel they are vulnerable to online threats, with 48% of respondents indicating that their business is " too small to be the target "
of an attack.
Of the SMB survey respondents who experienced a breach in
the past year, only 3% reported " no impact " to their business due
to the breach. Twenty-eight percent reported " severe " or " very
severe " consequences stemming from a cyberattack - with 60%
experiencing a website outage and more than a third incurring
revenue loss.
The study found that 60% of SMBs currently spend $500 per
month or less on website security, with nearly half of all respondents planning to increase website security spending in 2021.
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the most reported type of cybersecurity
incident (45% of cases), data breaches
and leaks hit more than a third of schools
(36%), followed by ransomware (12%)
and phishing (2%). The remaining 5%
consisted of all other types of incidents.
" The evidence suggests that in rapidly
shifting to remote learning school districts
not only exposed themselves to greater cybersecurity risks but were also less able to
mitigate the impact of the cyber incidents
they experienced, " the report states.
The past year saw the introduction of a
brand-new type of cyberattack: Invasions.
" Class invasions, " also known as " Zoom
raids " or " Zoom bombing, " included
unauthorized people disrupting online
classes, often with hate speech, sexual or
shocking images, videos or threats.

Evolv to Go Public in $1.7B Merger
With Investment Firm

▶ WALTHAM, Mass. - Evolv Technology, a provider of artificial
intelligence (AI)-based touchless security screening, and special-purpose acquisition company (SPAC) NewHold Investment
Corp. have entered into a definitive merger agreement that will
result in Evolv becoming a publicly traded company. It is anticipated that Evolv will trade on the Nasdaq with the ticker symbol
" EVLV " after the transaction's expected close in the second quarter, according to an announcement.
SPACs are shell companies that raise funds to acquire a private
company with the purpose of taking it public, allowing such targets
to sidestep a traditional initial public offering to enter public markets.
The agreement calls for Evolv to merge with a wholly owned
subsidiary of NewHold, with Evolv being the surviving entity of
the merger and a wholly owned subsidiary of NewHold. NewHold,
which currently holds approximately $172.5 million of cash in trust,
will be renamed to Evolv Technology Inc. following the merger.
The combined entity will have an estimated pro forma enterprise value of approximately $1.25 billion and total equity value of
approximately $1.7 billion.
Evolv is the first company in the industry to introduce a subscription SaaS model with its customers, including, Uber, Lincoln
Center, L.L. Bean and Six Flags Entertainment Corp., according to
the announcement.

APRIL 2021 Security Sales & Integration

3/22/21 10:02 AM

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Security Sales & Integration April 2021

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