CloudCover sells cybersecurity patents to Tego Cyber

CloudCover has sold two cybersecurity patents to Tego Cyber  (OTCQB: TGCB) as part of a new partnership. The deal includes Integrated Data Traffic Monitoring Systems and a Security Orchestration and Automated Response (SOAR) patent.

Tego plans to integrate and monetize the technology while enhancing its threat detection and intelligence platform.

CloudCover sees the agreement as a step toward expanding its reach into federal and enterprise markets.

“We are eager to partner with the Tego and begin collaborating to address the next generation of cybersecurity challenges to empower enterprise digital transformation. This alliance further expands CloudCover’s opportunity to engage federal services and enterprise customers, yet another endorsement of the scale that our patented cybersecurity technology platform is capable of providing as it relates to Tego’s cyber safety standard reaching goals.” – Stephen Cardot, CEO, CloudCover.

“We are excited to have closed on these patents, as it as it improves our balance sheet immediately and lays the groundwork for additional acquisition of more valued CloudCover technology assets. We will begin integrating this technology over the next several months, though we plan to start monetizing these patents as soon as possible. We anticipate merging our technologies to set the cyber safety standards.” – Robert Mikkelsen, CEO, Tego.