Cybersecurity company TAC Security has taken an important step toward hardening application security across its platforms by being named the App Defense Alliance's (ADA) lead cybersecurity evaluator. Following this, the company's stock rose 10% on the NSE Emerge.
Launched by Google in 2019 to combat malicious Android apps, ADA is now part of the Linux Foundation's Joint Development Foundation (JDF).
“By joining ADA alongside industry leaders such as ESET, Lookout, and Zimperium, TAC Security strengthens the Alliance's defenses against evolving digital threats. Leading technology companies such as Meta (formerly Facebook) and Microsoft ’s addition to the ADA steering committee further emphasizes our collaborative efforts to advance app security standards and practices,” TAC Security said in a statement.
ADA's expansion beyond Android highlights our broader efforts to improve app security across various ecosystems. TAC Security's selection as a cybersecurity assessment agency is a unique opportunity for TAC Security to gain expertise from top cybersecurity companies to mitigate malware and ensure robust Mobile App Security Assessments (MASA) and Cloud App Security Assessments (CASA). It added that it reflects the Alliance's efforts.
Trishneet Arora, Founder and CEO of TAC Security said: “We are proud to partner with Microsoft and Meta’s App Defense Alliance to help strengthen app security globally. Through our expertise and collaborative efforts within the ADA framework, we We are committed to creating a safer digital environment for our users.”
With TAC Security taking on the role of cybersecurity assessment body within the ADA, this partnership aims to strengthen resilience against emerging cyber threats and usher in a new era of collaborative cybersecurity efforts. . With active involvement in Linux Foundation projects, TAC Security is poised to shape the future of technology and help organizations succeed in the digital age, the company says.
The partnership opens up an ecosystem of more than 10,000 potential customers for the company, according to a statement.
TAC Security debuted on NSE Emerge on April 5, 2024 at a premium of 174% over asking price. Backed by stock market expert Vijay Kedia, the company raised $29.99 billion through an IPO and received bids of over $1 billion, resulting in a 422-fold oversubscription.
The company's stock price rose 9.88 per cent or Rs 47.60 to Rs 529.5 per share on NSE Emerge on Thursday.
