Penta Security, a leading global provider of web, data, and IoT security solutions, proudly announces its strategic partnership with Version 2 Digital, a dynamic IT company based in Hong Kong. This partnership aims to strengthen Penta Security’s presence in the Asian market by leveraging Version 2’s extensive sales network to distribute WAPPLES, Penta Security’s Web Application & API Protection (WAAP) solution, across Hong Kong, Macau, Taiwan, and Singapore.

Carlos Cheng, Founder and Managing Director of Version 2 Digital, expressed his excitement about the partnership: “We are honored to collaborate with Penta Security, a leader in cybersecurity. This partnership will enable us to bring advanced security solutions to our diverse client base, helping them safeguard their digital assets against the increasing threats in the cyber landscape.”

Ian Choi, Head of Global Business at Penta Security, added, “Partnering with Version 2 allows us to leverage their extensive network and expertise in the IT industry. Together, we aim to deliver unparalleled security solutions and services to businesses and consumers across these regions. We look forward to continuous collaboration to generate synergies not only in the security industry but also in the encryption business sector.”

Accessibility and scalability offered by Penta Security’s WAF allow it to stand out among local customers in South Korea compared to international industry participants that do not support domestic cloud environments.  

Frost & Sullivan recently assessed the web application firewall industry and, based on its analysis, recognizes Penta Security Inc. with the 2024 South Korean Company of the Year Award. The company offers web and data security products and services. Unlike standard intrusion prevention systems or next-generation firewall solutions (an alternative for web firewalls that lack comprehensiveness), Penta Security’s WAPPLES, including WAPPLES SA, and Cloudbric WAF+ include API, SSL, and L7 security protections. Penta Security’s WAPPLES differentiates its WAF from other industry participants through its patented logic-based detection Contents Classification and Evaluation Processing (COCEP™) engine. Unlike WAFs based on signature-matching detection, Penta Security’s WAPPLES does not rely on signature updates and lengthy learning periods. It allows the company to conduct security patching and fix vulnerabilities without delay.

Penta Security balances providing application security with performance as a cybersecurity leader in the South Korean WAF space. Its WAF fits different deployments, such as WAPPLES, the on-premises appliances, WAPPLES SA, the software appliances for Cloud, and cloud-based Cloudbric WAF+, differentiating it in the industry. WAPPLES also supports public and local Asia-Pacific cloud environments. Penta Security outshines competitors due to its ability to understand and meet local customer needs with offerings that exemplify best practices implementation. The company’s advanced API security functions (XML, JSON, YAML, GraphQL protection rules), advanced threat IP and bot reputation check functions, and additional add-ons respond to countless web threats based on malicious IPs.

Ying Ting Neoh, industry analyst at Frost & Sullivan, observed, “Penta Security demonstrates leadership focus and visionary strategy in leveraging WAF industry megatrends in South Korea through its integrations with in-house and third-party security solutions and its commitment to technological innovations that offer customers a comprehensive suite of application security portfolios.”

Penta Security provides round-the-clock support backed by over 200 employees to resolve customer difficulties and service failures through its online communication systems. Besides offering local customers access to advanced technologies, world-class experience, and support, Penta Security’s extensive connections, channel partners, and collaborators expand its reach so it can globally engage with customers. The company makes its application security solutions accessible to different customer segments while aligning them with local customer needs. This further strengthens the company’s leadership position in South Korea’s WAF industry. It successfully maintains its position in the South Korean WAF space, over a 50% market share, due to its broad portfolio and ability to retain optimal network performance after introducing WAPPLES to customers’ environments.

“Owing to steady business performance in recent years, Penta Security has positioned itself as an industry leader in South Korea. The company’s visionary strategy is based on its commitment to implementing best practices and leveraging the cloud industry’s rapid growth to develop cloud-based WAF, a valuable addition to its application security portfolio and growth pipeline,” added Neoh. With its strong overall performance, Penta Security earns Frost & Sullivan’s 2024 South Korean Company of the Year Award in the WAF industry.

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

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