Iddriven Inc (OTCMKTS:IDDR) has experienced several intra-trading day fluctuations in its share value, during the last few trading sessions, but has always closed around the $0.185 mark. Investors seem to be confused about the company and the potential it has to offer, keeping in mind the recent updates from IDDR. Recently, the company added Neil Kleinman to its higher management. This news was also accompanied by a Form 8-K disclosing that IDDR had entered into a subscription agreement, with two investors.
Mr. Kleinman was appointed as the sales manager for the North American region, by the company, to market its products, particularly related to cloud security. The decision was made after reviewing the new manager’s performance at Webair, a provider of cloud based services and SaaS solutions. Mr. Kleinman was known, at Webair, for exceeding his sales quotas and securing large customers for the business. In addition to this, Mr. Kleinman has a unique combination of both financial and IT sales experience, under his belt.
Prior to this appointment, IDDR had issued 20% secured convertible promissory notes to two of its investors, in the principle amount of $75,000 and $150,000. The notes would allow the two investors to purchase a total of 37,500 shares of common stock, of Iddriven, each, at a value of $0.001 per share. Moreover, the notes would be valid for a period of 1-year, ending on September 21, 2017.
Meanwhile a larger cyber security firm, Symantec Corporation (NASDAQ:SYMC), has engaged VMware (NYSE:VMW), a leader in cloud infrastructure, under a strategic partnership, to develop end point security solutions. As such, SYMC would become a part of the Mobile Security Alliance, formed by VMware. The developments come soon after the company had cited in a research report that mobile vulnerabilities had increased by 214%, during the year 2015 alone.
Symantec noted that it plans to complement threat intelligence, through the use of end point management, which would result in end-to-end security for users and businesses. It should be noted here that Symantec has a global intelligence network, which it plans to allow businesses to leverage, for enhanced security. The identity management would then be handled by the AirWatch compliance engine, from VMware.