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President Biden Issues Executive Order To Overhaul Cyber And Software Supply Chain Security And Expand Incident Reporting For Contractors - Technology

Key Points On Wednesday, May 12, 2021, President Biden issued EO 14,028, Improving the Nation s Cybersecurity. The EO sets out an ambitious schedule of reviews and rulemakings that portend significant changes in the software and cybersecurity industries, particularly for government contractors and cybersecurity and software solution providers. In the view of the administration, these changes should be regarded as the new normal of what will be considered reasonable cyber and supply chain security practices applicable to the government and potentially the private sector in other industries and sectors. Most importantly, the EO sets in motion a series of reviews and rulemakings around two initiatives that will directly affect

Cyber EO aims to help threat sharing by fixing federal IT contract language

President Biden last February speaks publicly prior to signing an executive order on the economy. Three months later, he would sign yet another EO designed to improve the nation’s cyber posture. (Photo by Doug Mills-Pool/Getty Images) President Joe Biden’s Executive Order on Improving the Nation’s Cybersecurity proposes many ambitious goals, but among the most nebulous and challenging passages in the document is a section that calls for the revision and standardization of government contracts with IT and operational technology service providers in order to remove barriers to sharing threat information. The EO points to contracts with IT and OT service providers to conduct “an array of day-to-day functions on federal information systems.” The order specifically points to cloud service providers as among the companies with access to and insight into cyber threat and incident information. At the same time, current contract terms or restrictions may limit the sharing o

Canadian software group bids for Adapt IT

Apr 8, 2021 Canadian software group, Volaris, has entered the Adapt IT fray making an offer to acquire more than 50% of the issued ordinary shares of Adapt IT for a cash consideration of 650 cents per share. The cash consideration represents a premium of 56,9% to the 30-day volume weighted average traded price of Adapt IT shares on the JSE of 414 cents, as at 26 January 2021, being the last trading date prior to the date on which the general offer by Huge Group Limited (“Huge Group”) to Adapt IT shareholders was announced. The offer will be made by Volaris Group Inc or its wholly-owned subsidiary (“Volaris”), a Canadian software company. Volaris is a subsidiary of Toronto listed Constellation Software Inc. (TSX:CSU).

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