Toronto, ON, and Baltimore, MD, June 07, 2018 ––– RYCOM Corporation and Blackpoint Cyber (Blackpoint) announced today that they have signed an exclusive partnership agreement to ensure commercial real estate is both Smart and cyber-secure. At the center of the partnership is a cyber defence platform which will assist in protecting the networks and technologies needed to make commercial buildings Smart, convenient and physically secure.
Commercial building networks have become one of the most diverse and complex technology landscapes in the world with applications such as HVAC, physical security, parking, public Wi-Fi and lighting all running over common IP-based networks. Adding to the challenge is the fact that these networks must be open to provide maximum benefits to both owners and tenants. The emergence and deployment of IoT, data analytics, digital transformation strategies, AI, and CRE-Tech all create material benefits to the real estate industry and the communities they serve. However, this rapid influx of new capabilities and technologies is also creating vulnerabilities.
The new demands of cyber protection require new strategies that hunt, isolate, and protect against malicious behavior proactively. In answer to this, RYCOM and Blackpoint have combined their unique capabilities and experiences in real-estate, end-user needs and cybersecurity to launch an innovative platform under the brand: “RYCOM HIVE-Defence, powered by Blackpoint”. RYCOM HIVE-Defence delivers comprehensive cyber protection 24/7.
“As critical infrastructure – buildings, utilities, and municipal services – increase their reliance on Smart and internet-connected devices for efficient operations, this increases exposure to cyber-attacks. Blackpoint and RYCOM offer a solution to greatly reduce this risk and provide visibility that is desperately needed in this growing space”, said Chris Inglis, a former Deputy Director of the U.S. National Security Agency.
Cheryl Gray, Co-Chair of BOMA Canada’s Cyber Security Committee and EVP of Enterprise Innovations at QuadReal Property Group said, “For the real estate industry, implementation of Smart technology, AI, and PropTech into our everyday property operations is expanding at a rapid pace. These Smart tech deployments will stress our existing cyber strategies and therefore, enhancing cyber precautions is essential.”
Risk management is critical to both operations and investment strategies across all asset classes. “The commercial real estate industry is currently seeing an increased interest in PropTech and AI across all sectors. Investors, owners and the industry leaders who comprise REALPAC’s membership need to understand the potential cyber threats that can impact assets and operations from a risk standpoint,” said Michael Brooks, CEO of REALPAC.
“The new reality of our industry – using diverse Smart tech to drive benefits – requires us to integrate advanced cyber and physical security capabilities”, said Casey Witkowicz, President and CEO of RYCOM.
“We need to keep up with the evolution of the various types of cyber crimes as we move closer and closer to a fully connected society. Attacks on Smart buildings will surge in the coming decade; Smart buildings are an excellent target because cyber attackers are able to maximize damage and profit with minimal effort”, said Jon Murchison, Founder and CEO of Blackpoint.
“At the Cushman Wakefield One Queen St. East property, we have deployed the RYCOM HIVE platform extensively and are achieving material Smart building results and benefits in our day to day operations. Cyber has always been part of our Smart strategy. The addition of Blackpoint’s Cyber solution to the RYCOM HIVE platform provides us the needed cyber defence for our Smart building operation,” said Stephen Adams, General Manager, Toronto Urban Portfolio, for Cushman Wakefield Asset Services.