March 6, 2024, Calgary, AB – Wedge Networks Inc., an Alberta cybersecurity company, announced today that the Wedge Absolute Real-time Threat Protection Platform has been added to the Government of Canada’s Pathway to Commercialization innovations source list, for direct buy purchase by departments and agencies. Each purchase can be for as much as $8M with no limit on the number of purchases by departments. The source listing will be active for a period of 3 years.
The Departments of Innovation, Science and Economic Development Canada, and Public Services and Procurement Canada, operate the Innovative Solutions Canada Program to accelerate the development and launch of innovative technologies by Canadian companies. An essential feature of the Program is to fast-track procurement of an innovative technology by departments and agencies through the Pathway to Commercialization innovations source list.
The Wedge Platform advances cybersecurity innovation in 3 critical areas. First, the Wedge cybersecurity platform detects and blocks ‘never before seen’ malware in milliseconds. In real time, new threats train Wedge’s machine learning engine through an autonomous process called ‘nucleation’ – a critical breakthrough beyond the current known-signature and behaviour-based approaches to malware detection.
Second, through a simple orchestration of security virtual network functions, on an Open Service Bus, connecting 2 deep packet inspection and deep content inspection engines, the Platform supports the continuous integration of new security algorithms for combatting emerging threat types.
Finally, the Platform has extremely flexible configuration options for easy deployment across the full range of customer security architectures from traditional network security gateways, through more-powerful cloud-based defences, and into the most advanced Security Service Edge (SASE/SSE) architectures.
Independent testing and evaluation of the Wedge Platform were conducted in 2023 for Shared Services Canada by Canada’s Centre of Excellence in Next Generation Networks (CENGN). CENGN is an independent, not-for-profit organization that performs testing of promising technologies for small and medium Canadian companies.
CENGN is supported by the Governments of Canada and Ontario, and major Canadian telecommunication companies,
universities, and colleges.
Wedge Networks CEO, Hongwen Zhang, highlighted the importance of the Government of Canada’s decision to add the Wedge Absolute Real-time Threat Protection Platform to the Pathway to Commercialization innovations source list saying, “The new Wedge Platform will deliver advanced, real-time cybersecurity protection to Government of Canada departments and agencies. We are standing up a new Wedge office in Ottawa to provide maximum support to federal government organizations.”
Since incorporation in 2002, Wedge Networks has successfully commercialized its IP in Wedge cybersecurity products and services that have protected the computer infrastructure and operations of government and enterprise customers in over 20 countries.
For more information, please visit www.wedgenetworks.com or contact Wedge Networks Media Relations at +1 (613) 252-6028 or Info@wedgenetworks.com.
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This release contains forward-looking statements, which are based on current expectations, estimates, and projections about the Corporation's business and prospects, as well as management’s beliefs, and certain assumptions made by management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The forward-looking statements contained in this news release are made as of the date hereof and Wedge undertakes no obligation to update, publicly or otherwise, or revise any forward-looking information, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws. The forward-looking information contained in this press release are expressly qualified by this cautionary statement. Readers are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Corporation's future business activities may differ materially from those in the forward-looking statements as a result of various factors , including, but not limited to: expansion and business strategies, anticipated growth opportunities, the impact of the COVID-19 pandemic, general economic, market or business conditions, the amount of fundraising necessary to perform on its business objectives, operational risks, the ability of the Corporation to raise necessary funds for its business objectives, and the outcome of commercial negotiations. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Although the Company believes that the assumptions and factors on which such forward-looking statements is based are reasonable, undue reliance should not be placed on the forward-looking statements as the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.