Stock Update (NYSEMKT:MGT): MGT Capital Investments Inc. Acquires Anti-Hacking Technology


MGT Capital Investments Inc. (NYSEMKT:MGT) announced Sentinel MGT, an intrusion monitoring system, a cybersecurity product designed to protect corporate and enterprise intranets from sophisticated hacking threats. MGT also announced plans for a consumer product based on the technology, due to be released in November. The underlying technology was purchased from Cyberdonix, Inc. for 150,000 restricted shares of MGT stock.

In an article published yesterday, Inc. Magazine correctly outlined the five most important classes of cybersecurity technologies needed to address the latest threats facing organizations and consumers. These are protecting the rapidly expanding Internet of Things (IOT), protecting the cloud, moving to a proactive defense, protecting individual privacy and securing mobile computing platforms.

Sentinel MGT joins the other technologies acquired by MGT — D-Vasive, Demonsaw and E-Tagged — to make MGT the only company developing targeted solutions for all of these threats to both the consumer and enterprise markets. These technologies, taken together, comprise the world’s first comprehensive Anti-Hacking system.

Sentinel MGT features a new approach towards monitoring network traffic that outpaces every other approach in the industry. The system, composed of a passive hardware device connected to an enterprise Ethernet, monitors network traffic for suspicious activity using sophisticated algorithms, providing an early warning system that alerts the owner before irreparable damage can be done. The device requires no setup or user configuration. The user merely plugs it into an intranet and it communicates anomalous packets to an MGT server, where they are analyzed and appropriate alerts are instantaneously transmitted to the enterprise IT department.

Sentinel MGT mitigates risk by greatly reducing the time a hacker has to operate inside protected networks, planting malware and stealing data. It also allows for an investigation to begin while the attack is in progress, rather than after the perpetrator has left the system. This Anti-Hacking system allows organizations, for the first time, to take a proactive rather than a reactive approach to cybersecurity.

John McAfee, proposed Executive Chairman and Chief Executive Officer of MGT, stated, “Sentinel is the world’s first product designed by white hat hackers to address the growing threat of corporate and governmental hacking of enterprise intranets. The product is being readied for sale in the U.S. market, and we will have a Chinese version ready for sale when I deliver my keynote address to the Chinese National Security Conference in Beijing on August 15th.”

Mr. McAfee concluded, “Unlike anti-virus products, which focus on the actual malware tools used by hackers, our Anti-Hacking model focuses on the means that hackers use to gain entrance to their targets. This helps prevent malware from being planted in the first place. This tilts the playing field in the favor of the enterprise.” (Original Source)

Shares of MGT Capital are up 11.50% to $3.68 in early trading Friday. MGT has a 1-year high of $5.58 and a 1-year low of $0.15. The stock’s 50-day moving average is $3.16 and its 200-day moving average is $1.17.

MGT Capital Investments, Inc. engages in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the casino industry. It operates through four segments: Medicsight Software/Devices, Medicsight Services, Gaming and Intellectual Property. 



Stay Ahead of Everyone Else

Get The Latest Stock News Alerts