Spectrum Global Solutions Inc. (the “Company” or “Spectrum”) (OTCQB: SGSI), announced today that High Wire Networks Inc. (“High Wire”) and its cybersecurity business unit, Overwatch Managed Security, have achieved SOC 2 Type 1 certification.
SOC 2 is a technical audit that requires companies to establish strict information security policies and procedures to protect customer data. Some areas targeted for adherence include monitoring, responding to anomalous alerts and auditing to show continuous correction and adjustment to updated or replaced conditions and regulations. The evaluation is conducted in a standardized way against a common framework of rules and processes.
“SOC 2 Type 1 certification proves High Wire’s information security measures are in line with the unique parameters of today’s cloud requirements and that systems for shared access to the cloud are safely storing client information,” said High Wire’s CISO Phil Burnett. “It offers our partners and customers additional peace of mind.”
“Achieving SOC 2 demonstrates to customers and partners that High Wire is a safe business partner to work with,” said High Wire’s CEO Mark Porter. “It validates that we have safeguards in place to properly manage and store sensitive client data every step of the way. It also confirms that we have business systems for resiliency, redundancy and disaster recovery.”
High Wire will proceed toward achieving SOC 2 Type 2, which assesses how effective the controls are over time by observing operations for six months.
As previously announced, High Wire has agreed to go public through a merger with Spectrum Global Solutions Inc. ( OTCQB:SGSI). The closing of the merger is subject to certain closing conditions that are expected to be resolved within the next few weeks.