Analytic software firm FICO has acquired QuadMetrics - a cyber risk security scoring company - to further its effort in developing a solution which will rank an organisation's level of cybersecurity risk.
In a press statement, FICO said the Enterprise Security Score complements its Falcon Cybersecurity Analytics, which is used for threat detection. The solution will also facilitate board-level risk assessment, third-party vendor management, and underwriting of cyber breach insurance.
Additionally, the score generated will provide visibility to enterprises with the current threat profile characteristics and insights into potential security issues.
"We believe cybersecurity can only be substantially and sustainably improved through creating a strong ecosystem, and a vital part of that ecosystem is a common rating that all parties can use to evaluate cyber risk," said Doug Clare, Vice President of Cybersecurity Solutions at FICO.
Meanwhile, the transaction for the acquisition of QuadMetrics has closed but the terms have not been disclosed.
"We're excited to have the QuadMetrics team - and their deep expertise - joining us in our efforts to fight cybercrime and help all organisations improve their visibility and insights into cyber risk. Just as the FICO Score gave credit markets a single metric for understanding credit risk, this product will give the industry a common view of enterprise cybersecurity risk," added Clare.
Sign up for MIS Asia eNewsletters.