Introduction

In today’s interconnected world, effective cross-cultural communication and collaboration are crucial for global leaders to succeed. With the rise of technology, leader

Catching Up to the Competition through Technology Acquisition

The Pressure to Innovate

Most companies fear competition from a rival’s product innovations and the risk of falling behind their industry’s technological frontier. Firms affected by such competitive pressure usually react by trying to strengthen their R&D capabilities and close the gap between their and their rival’s technologies as quickly as possible.

Traditional Approaches to Innovation

When it comes to catching up to the competition, most companies typically resort to one of two strategies: innovating from scratch in-house or partnering with others in strategic alliances. While these approaches can be effective, they can also be time-consuming and costly. Innovating from scratch requires significant investments in R&D, while partnering with others can be a complex and risky process.

A New Approach: Technology Acquisition

Our research suggests that there is a more effective solution: buying access to an already existing technology and incorporating it into your R&D. This approach can provide a significant competitive advantage, as it allows companies to quickly and cost-effectively catch up to their rivals without having to start from scratch or navigate the challenges of partnerships.

The Benefits of Technology Acquisition

There are several benefits to acquiring existing technology, including:

• Speed: Acquiring existing technology can significantly reduce the time it takes to catch up to the competition, allowing companies to stay ahead of the curve.
• Risk reduction: By avoiding the risks associated with in-house innovation or partnering with others, companies can reduce the risk of project failure and associated costs.
• Cost savings: Acquiring existing technology can be more cost-effective than developing it from scratch, as it eliminates the need for significant R&D investments.
• Expertise: Existing technologies are often developed by experts in the field, providing companies with access to valuable knowledge and expertise.

Conclusion

In conclusion, our research suggests that buying access to an already existing technology and incorporating it into your R&D may be the most effective solution for companies looking to catch up to their rivals. By avoiding the risks and costs associated with in-house innovation and partnering, companies can quickly and cost-effectively close the gap between their and their rival’s technologies, positioning themselves for success in a competitive market.

FAQs

Q: What are the benefits of acquiring existing technology?
A: Acquiring existing technology can provide speed, reduce risk, save costs, and provide access to expertise.

Q: How does technology acquisition differ from in-house innovation and partnering?
A: Technology acquisition is a faster and more cost-effective approach than in-house innovation, and it avoids the risks and complexities associated with partnering with others.

Q: What are the potential downsides of technology acquisition?
A: While technology acquisition can be an effective solution, it may require companies to adapt to new technologies and processes, and there may be potential intellectual property concerns to navigate.

Nearly All Ransomware Attacks Now Steal Data Rather Than Just Encrypt It

As one of the world’s most infamous ransomware gangs, Lockbit, warns, it has data that could destroy the FBI, enterprises need to be more concerned with a shift in cybercrime tactics that could destroy their business. Here’s what you need to know.

Ransomware Has A Very Long Tail Of Threat Actors

Referring to the ransomware landscape as a modern-day hydra, the Arctic Wolf report said that the by-now very well-established ransomware-as-a-service model has "democratized access to ransomware software, intrusion tools, and — via initial access brokers — IT environments." The end result is a very long tail of threat actors, all of whom are looking for a profitable piece of the cybercrime pie. Arctic Wolf analysts observed more than 50 unique ransomware threat actors in victim environments., the report stated. "Like the Hydra of Greek mythology," the report said, "when a ransomware operation ceases to exist — whether due to law-enforcement operations, infighting, politics or retirement — other groups (new and old) fill the void."

The Ransomware Landscape Has Evolved

A Feb. 26 report from Arctic Wolf has revealed that 96% of all reported ransomware incidents across 2024 included data exfiltration as attackers double down on leveraging the extortion threat. The newly published research shows that the double extortion tactic of stealing data as well as encrypting it, introduced by ransomware actors in response to stronger backup and respiration capabilities of potential victims, along with a better understanding of the threat itself, is no longer the exception but the norm. This "highlights a critical shift in cybercriminal behavior," Kerri Shafer-Page, vice president of incident response at Arctic Wolf, said; "Threat actors are no longer just locking up data with ransomware; they’re stealing it first to maximize pressure on victims." Doing so helps to protect the revenue streams of these organized criminal operations.

How Profitable is the Ransomware Business?

According to Arctic Wolf, median ransom demands across 2024 came in at $600,000, "demonstrating that ransomware remains a lucrative business for cybercriminals despite increased law enforcement action."

Conclusion

The shift in ransomware tactics from just encrypting data to stealing it first is a cause for concern for enterprises. With the ransomware landscape evolving and the number of threat actors increasing, it is essential for organizations to stay vigilant and take necessary measures to protect their data and systems.

Frequently Asked Questions

Q: What is the new trend in ransomware attacks?
A: The new trend is that ransomware gangs are stealing data before encrypting it to maximize pressure on victims.

Q: How many ransomware threat actors were observed in victim environments?
A: More than 50 unique ransomware threat actors were observed in victim environments.

Q: How much do median ransom demands come in?
A: Median ransom demands across 2024 came in at $600,000.