TAC Security Appointed as Cybersecurity Assessor for Microsoft, Meta-led App Defense Alliance; Shares Up 10%
TAC Security, a cybersecurity company, has been appointed as a key cybersecurity assessor for the App Defense Alliance (ADA), marking a significant step towards enhancing app security across platforms. Following this, the company’s shares jumped 10 per cent on the NSE Emerge.
The ADA, which was launched by Google in 2019 to combat malicious Android apps, is now transitioning to the joint development foundation (JDF) under the Linux Foundation.
“By joining the ADA alongside industry leaders like ESET, Lookout, and Zimperium, TAC Security strengthens the alliance’s defense against evolving digital threats. The addition of tech giants like Meta (formerly Facebook) and Microsoft to ADA’s steering committee further emphasises the collaborative effort to advance app security standards and practices,” TAC Security said in a statement.
The ADA’s expansion beyond Android underscores a broader commitment to improving app security across various ecosystems. TAC Security’s selection as a Cyber Security Assessor reflects the alliance’s efforts to enlist expertise from top cybersecurity firms to mitigate malware and ensure robust Mobile App Security Assessments (MASA) and Cloud App Security Assessments (CASA), it added.
Trishneet Arora, founder and CEO of TAC Security, said, “We are proud to partner with Microsoft and Meta’s App Defense Alliance to enhance app security globally. Through our expertise and collaborative efforts within the ADA framework, we are committed to creating a safer digital environment for users worldwide.”
As TAC Security takes on its role as a cybersecurity assessor within the ADA, the alliance aims to bolster resilience against emerging cyber threats, ushering in a new era of collaborative cybersecurity efforts. With active involvement in the Linux Foundation Project, TAC Security is poised to shape the future of technology, empowering organisations to thrive in the digital age, it said.
This partnership opens an ecosystem of more than 10,000 potential customers for the company, according to the statement.
TAC Security debuted on NSE Emerge on April 5, 2024, with a 174 per cent premium over the offer price. Backed by stock market expert Vijay Kedia, the company raised 29.99 crore through its IPO and received bids exceeding $1 billion, resulting in an oversubscription of 422 times.
Shares of the company on Thursday jumped 9.88 per cent or Rs 47.60 to Rs 529.5 apiece on the NSE Emerge.
