Romanian firm Euro-Testing Software Solutions enters agreement with the Synopsys Software Integrity Group for advanced cyber security

Romanian firm Euro-Testing Software Solutions has entered into a solution provider agreement with the Synopsys Software Integrity Group to deliver solutions within the Polaris Software Integrity Platform® throughout Romania. This agreement will bring innovation and enhanced security to the Romanian IT industry, offering companies comprehensive solutions tailored to the specific needs of the country’s business environment.

“We are excited to begin this strong collaboration with Synopsys Software Integrity Group, a company with an outstanding reputation in application security, says Silviu Răcuciu, CEO Euro-Testing Software Solutions. “This collaboration is aimed at combining the solutions offered by the American company with Euro-Testing’s expertise; thus, bringing a complete service, supported by a strong partner on the Romanian market. Together, we will provide our customers with advanced and integrated solutions for managing security risks in an efficient and effective way. Through this partnership, we have strengthened our position in the cybersecurity solutions segment and will better cover the current needs of the Romanian software and cybersecurity market.”

“Our agreement with Euro-Testing is a significant milestone that will help expand Synopsys’ portfolio in the Romanian market,” says Tom Herrmann, VP of Global Channels and Alliances, Synopsys Software Integrity Group. “Broadening our business through the channel is one of our top strategic priorities. This agreement signals the continued momentum and growth we expect by further extending our world-class application security solutions through the channel moving forward.” 

Through this collaboration between Euro-Testing Software Solutions and the Synopsys Software Integrity Group, advanced analysis, correlation and reporting solutions will be brought to the Romanian IT market, covering the entire security architecture and infrastructure, and addressing license compliance and code quality risks that come from using open-source technology in application and container development. In addition, this collaboration will offer integration solutions with DevOps CI/CD workflows, enabling continuous testing and verification of application security. Euro-Testing will also provide specialized solutions for different industries such as Telecom, Automotive, ICS & Networking, addressing Black Box testing for Embedded Software application security.

The collaboration with the Synopsys Software Integrity Group will allow Euro-Testing to expand its coverage across multiple market verticals and offer a wider range of security services, addressing the complex needs of its customers. These new capabilities will contribute to strengthening Euro-Testing’s position in the Romanian cyber security services market.

“The diversification of the portfolio of services we can offer both to current customers and to other companies facing the challenges associated with digitization at this time is the indicator of the success behind this collaboration,” says Silviu Răcuciu, CEO Euro-Testing Software Solutions. “In terms of business development, both for us and our collaborators, such a partnership is beneficial and necessary to prevent and remediate unpleasant incidents in the cybersecurity area without the need to contract multiple vendors. Thus, in 2024, we expect to record an organic growth of up to 10%.”

The software security market in 2024 in Romania

The cybersecurity market in Romania is incomplete in terms of solutions needed for IT security, with only products available that help identify security issues in software applications, databases, networks and cloud-based devices. So far, no solution has been able to cover all vulnerabilities and provide complete protection against cyber threats. Consequently, as new solutions emerge, this market continues to grow at a considerable pace, say Euro-Testing Software Solutions representatives.

With the growth of digital transformation, the security market has steadily expanded, and in 2023 there was a significant need for cybersecurity solutions. This market experienced a sharp decline in 2020, but quickly recovered and peaked shortly after due to the conflict between Russia and Ukraine.

Romania’s cybersecurity sector is expanding rapidly, according to studies by audit firms, and most businesses have increased their security budgets for 2023 and 2024. This is the consequence of several things, such as:

● Businesses have become more open to digitisation: during the pandemic, consumers’ attention was drawn to working remotely. This has meant that businesses and even government have had to comply and digitise their operations.

● Furthermore, we are facing an increasing number of cyberattacks: according to a market survey, more ransomware attacks were reported in the first nine months of 2023 compared to the whole of 2022. Fortunately, companies are increasingly inclined to invest in cybersecurity measures as a result of a growing understanding of the potential financial and reputational damage that cyberattacks can cause.

● In terms of threats, social engineering has the biggest share at the moment. A Verizon study claims that human activity is involved in 85% of data theft. With the introduction of AI chatbots, which help attackers create personalized messages in any language, including English, the threat has increased. The usual results of a successful social engineering attack are financial fraud or ransomware attacks. Hacking into the email accounts of reputable companies and sending updated invoices to all their partners is a practice that has become very popular among threat actors.

● However, organisations are focusing more on cyber security due to the increasing number of devices that are connected to the cloud. As a result, the cloud security sub-segment has seen the strongest and most consistent growth in revenue contribution to the cyber solutions market both in Romania and globally with an estimated 40% in 2023 and is growing.

● Open-source software (OSS) continues to be the foundation of modern application development, powering software delivery at the pace demanded by consumers. Being developed by many different people using different approaches to coding, security and quality, OSS creates the premises for introducing unique risks, especially with outdated and abandoned OSS components.

About Euro-Testing Software Solutions

Founded in 2005, Euro Testing Software Solutions is a full-service software company, from software testing, cybersecurity, RPA, DevOps/DevSecOps, to Business Intelligence and Big Data. The company has proven expertise in helping organizations in Banking and Finance, Telecommunications, Software Development, Oil and Gas, Retail, Healthcare, Automotive and Energy to constantly adapt to technological change by leveraging the latest technology tools, trends and resources.