South Korean messaging app Line Plus has acquired cybersecurity company GrayHash.
As part of the deal, GrayHash will be rebranded as GrayLab and will focus on developing security solutions with AI and blockchain.
GrayHash CEO and co-founder Lee Seung-jin will continue to lead the operations of the new business. He is a member of the Defense Research Institute and the Cyber Command Advisory Board, the Seoul Eastern District Prosecutor’s Office Cyber Investigation Information Protection Advisor.
Also based in South Korea, GrayHash is an online security and analytics platform. The company is developing a range of mobile security products to protect consumers, with it currently in alpha testing for its Android and iOS solution.
The company also provides security consulting services, conducting analysis of software through blackbox and whitebox testing to identify any vulnerabilities. Its solution is able to integrate with companies existing infrastructure and can detect any risks on IoT devices.
There has been a lot of activity in the cybersecurity sector around the world. The Monetary Authority of Singapore (MAS) recently deployed a $30m cybersecurity grant to support local talent and startups.
Meanwhile, the European Union is also making efforts to support the level of cybersecurity. MEPs and member states recently provisionally agreed measures to launch an EU-wide cybersecurity certification scheme.
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