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    Content Assessment: Privacy-Preserving Synthesis? Anonos Acquires Award-Winning Synthetic Data Company Statice

    Information - 91%
    Insight - 90%
    Relevance - 88%
    Objectivity - 89%
    Authority - 92%

    90%

    Excellent

    A short percentage-based assessment of the qualitative benefit of the recently announced acquisition by Anonos of the synthetic data company Statice.

    Editor’s Note: From time to time, ComplexDiscovery highlights publicly available or privately purchasable announcements, content updates, and research from cyber, data, and legal discovery providers, research organizations, and ComplexDiscovery community members. While ComplexDiscovery regularly highlights this information, it does not assume any responsibility for content assertions.

    To submit recommendations for consideration and inclusion in ComplexDiscovery’s cyber, data, and legal discovery-centric service, product, or research announcements, contact us today.


    Press Release (November 2, 2022)

    Anonos Acquires Award-Winning Synthetic Data Company Statice

    The combined organization expands Anonos’ ability to help enterprises protect data privacy across all aspects of testing and production use cases for insights that drive strategic value

    Anonos, provider of the only technology that protects data in use with 100% accuracy, today announced the acquisition of Berlin-based Statice GmbH, a synthetic data software provider. With the addition of the Statice solution, which generates new privacy-preserving data points that reflect the statistical properties of the original data, Anonos expands its ability to provide a comprehensive platform that powers speed to data insights for use cases while enhancing the protection and utilization of data. The Statice synthetic data technology will be integrated with the Anonos Data Embassy platform and available later this quarter. This acquisition follows Anonos’ recent announcement of $50 million in new growth financing backed by its intellectual property portfolio, facilitated by Aon (NYSE: AON) and led by GT Investment Partners (“Ghost Tree Partners”).

    Statice was recently honored with the Handelsblatt Diamond Award in the best innovation in banking and fintech category, named in Gartner “Emerging Tech: Top Use Cases for Tabular Synthetic Data, September 2022,” and recognized in two 2022 Gartner Hype Cycle™ reports: Artificial Intelligence and Data Science and Machine Learning (ML). As noted in the latter report, Gartner predicts an increase in synthetic data adoption and growing buyers’ interest across all industries notably due to the multiple benefits of the technology, for example, how synthetic data can “reduce cost and save time in ML development as it is cheaper and faster to obtain.” The same report mentions that “synthetic data applications have expanded beyond automotive and computer vision use cases to include data monetization, external analytics support, platform evaluation and the development of test data.”

    “Statice and Anonos share the goal of helping enterprises use more of their data assets, minus the usual conflicts and compromises,” said Anonos Co-CEO and President Ted Myerson. “Now organizations have the benefits of high-privacy, high-utility statutory pseudonymization combined with those of a proven synthetic data product for granular control throughout the data lifecycle.”

    Enterprises have the option of using synthetic data whenever possible, and then combining it with Anonos’ non-identifiable yet 100% accurate Variant Twins® when there are privacy variables and risks – for example, to ensure compliance with Schrems II and the U.S. CLOUD Act for compliant data transfers across international borders. “From non-production use cases to full-production processing, more data control, privacy and accuracy aren’t just possibilities but actual realities,” Myerson added.

    Anonos was named as a Cool Vendor by Gartner because of its Variant Twin technology and recognized in August for data security as a service in the “Gartner Hype Cycle for Data Security, 2022.” Data Embassy delinks data from both direct and indirect identifiers to obscure identity while enabling organizations to use more of their data for lawful analytics, artificial intelligence, machine learning, data sharing and data transfer. It works by transforming source data into statutorily pseudonymized and 100% accurate Variant Twins authorized for specific purposes. They are embedded with multi-level data privacy and security controls that are technologically enforced, so they can travel anywhere. Controlled relinking to the original data accelerates speed to insights, but that process can only occur with the addition of other data held separately by the data controller or an authorized party.

    Statice’s co-founders Omar Ali Fdal and Mikhail Dyakov join the Anonos leadership team, and all 23 Statice employees become Anonos employees for a total of 65, with a majority located in Europe. “We are thrilled to join Anonos to accelerate the development of an entire range of modern data protection solutions, helping organizations across industries be more confident in data privacy and security so they can gain more business value from their data,” said Omar Ali Fdal, co-founder of Statice. “Our visions and strengths are aligned in de-risking data so our customers can responsibly pursue data-driven initiatives to accomplish their business goals.”

    “We recognized the great potential of privacy-enhancing technologies in the market early on. Especially in Germany and Europe, data protection law is strict, privacy concerns are manifold and our clients, as well as their customers’ demand for the protection of private data is very high. PwC incubated the capabilities of Statice’s synthetic data solution to support internal operations and external advisory requirements. Statice’s vision for data agility combined with privacy reliability changed how we drive digital transformation for our clients, and we are convinced that such technologies are poised to have a wide impact on global enterprise data strategies,” said Marcus Hartmann, Chief Data Officer at PwC Germany and PwC Europe. Now, it’s time to take the next step to industrialize the solutions. “The resulting joint capabilities of Statice with Anonos will offer privacy protection across the entire spectrum of data operations. That combination of privacy-enhancing techniques opens new possibilities for our clients in using more of their sensitive data to fuel innovation and modernization while eliminating the potential for data misuse.”

    The terms of the transaction will not be disclosed. PwC is no longer a stockholder of Statice; Anonos is now the 100% stockholder of Statice.

    About Anonos

    Anonos is a global software company that provides the only technology capable of protecting data in use with 100% accuracy, even in untrusted environments, making otherwise restricted assets accessible to expand and expedite data-driven initiatives. Its patented Data Embassy platform transforms source data into Variant Twins: non-identifiable yet 100% accurate data assets for specific use cases. Because multi-level data privacy and security controls are embedded into the data and technologically enforced, Variant Twins can travel anywhere – across departments, outside the enterprise, or around the globe. Therefore, data protection teams and data users can collaborate to advance projects for capturing valuable insights without compromising privacy, security, accuracy or speed. Anonos. Data without the drama. To learn more, visit www.anonos.com or follow us on LinkedIn.

    About Statice

    Statice develops state-of-the-art data privacy technology that helps companies double-down on data-driven innovation while safeguarding the privacy of individuals. Thanks to the privacy guarantees of the Statice data anonymization software, companies generate privacy-preserving synthetic data compliant for any type of data integration, processing and dissemination. With Statice, enterprises from the financial, insurance and healthcare industries can drive data agility and unlock the creation of value along their data lifecycle. Safely train machine learning models, finally process your data in the cloud, or easily share it with partners. Learn more about Statice on www.statice.ai.

    About PwC

    PwC sees its mission as building societal trust and solving important problems. More than 327,000 employees in 152 countries contribute to this with high-quality, industry-specific services in the areas of audit, tax and management consulting.

    The term PwC refers to the PwC network and/or one or more of the legally independent network firms. Further details under www.pwc.com/structure.

    Gartner Disclaimer:

    GARTNER and HYPE CYCLE are a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission.

    Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be constructed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    Read the original announcement.


    Additional Reading

    Source: ComplexDiscovery

     

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