Dallas, Texas 06/22/2015 (Financialstrend) – Cybergy Holdings, Inc. (OTCMKTS:CYBG) was up by 6.29% in Friday’s trading session with 42,858 shares exchanging hands. The stock looks poised to move up after falling by more than 80% and making a bottom near $0.03500. Increase in no of hacking incidents across the world along with its recent acquisition of Cross Sciences LLC makes the company an interesting play in short run.
Cybergy Holdings, Inc. (OTCMKTS:CYBG) recently announced that it has signed an agreement to buy 100% of Cross Sciences LLC and appointed Richard Donohoe as director of infrastructure for new west smart grid to enhance the firm’s cyber offerings, including its proprietary Smart File technology that will give real-time document intelligence along with insider threat detection.
In today’s fast growing generation there is always a threat of cyber hacking and recently reports said that international hackers penetrated through the electronic repository of the U.S. office of Personnel management (OPM) and gained access to the SSN and PII records of 4M current and old data of former Government employees for several months.
The sheer scale and the duration of data breach along with the high profile target is the best example of cyber attacks been posed to the American People. Hence in order to tackle all such attacks in advance Cybergy Holdings, Inc. (OTCMKTS:CYBG) acquisition of CROSS sciences makes sense.
CROSS Sciences is a Colorado based multi-disciplinary consulting & advisory firm with main focus on energy and electric grid reliability including cyber security issues. It is headed by Richard C. Donohoe an Air Force veteran with a professional background in military cyber-operations.
The company is also developing energy projects for Federal Government and Fortune 200 corporate clients. Richard was responsible for authoring the Cybersecurity, grid reliability, and resiliency components of a joint Emergency Action plan for Arizona and Nevada. He completed many technical designs and his works added more value in terms of dollars to GDP of south California.