LOS ANGELES, June 28, 2011 (GLOBE NEWSWIRE) -- CyberDefender Corporation (Nasdaq:CYDE), a leading provider of remote technical support services, Internet security software and utilities, today announced the company's LiveTech remote technical support service has seen a significant increase in demand, performing more than 375,000 PC repairs in the past 12 months.
LiveTech is now averaging more than 40,000 PC repairs per month, up 471% from approximately 7,000 repairs per month during the same time last year. These repairs are primarily due to malware infections or PC slowdowns, which together account for more than 65 percent of repairs made by the company's subscription service.
"As reliance on the PC and connected devices continues to grow, demand for remote technical support service is at an all time high," said Gary Guseinov, CEO, CyberDefender. "In the first quarter of 2011, LiveTech sales grew 141% year-over-year, 57% of which were multi-year subscriptions. The dangers consumers face online are increasingly more sophisticated and require comprehensive security and optimization solutions to combat. It is CyberDefender's mission to provide our customers with a broad suite of solutions and services to enable them to protect their digital assets."
According to Parks & Associates, the market for remote tech support services alone is expected to approach $7.6 billion in U.S. revenues by 2015, up from just over $876 million in 2010. Guseinov believes consumers are recognizing the value proposition of CyberDefender's LiveTech Services.
"A good antivirus software is a key foundation for security, but it's just not enough to ensure maximum security and productivity in today's complex technical world," Guseinov explained. "Home networks can be as complicated as businesses today and consumers need their own personal IT department. A subscription to LiveTech can fix a wide range of PC problems from simple to complex. With one call, customers can access techs on a 24/7 basis and get immediate resolution for their technical troubles and their frustration. What is the potential value? It's hard to put a price on peace of mind," Guseinov concluded.
About CyberDefender
CyberDefender is a leading provider of remote technical support services as well as Internet security software and utilities. With 8.6 million active users on its cloud-based collaborative Internet security network and more than 800,000 active paid subscriptions, CyberDefender protects its customers from the rapidly growing number of online threats through its suite of security and optimization software as well as its LiveTech subscription-based remote PC repair service. CyberDefender's team of more than 500 highly trained technicians and sales agents provide customers with efficient, round the clock remote PC repair services. The company develops and markets antispyware/antivirus software, PC optimization software, online backup and identity protection services. By combining remote live technical support and the aforementioned software products, CyberDefender offers a complete Internet security solution to consumers and small businesses.
CyberDefender directly markets its products and services to consumers through television and radio via its MyCleanPC, MaxMySpeed and DoubleMySpeed brands. CyberDefender products are fully compatible with Microsoft Windows® XP, Vista®, and 7 Operating systems. All products are available at www.cyberdefender.com. Investor relations information is available at www.cyberdefendercorp.com.
The CyberDefender Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7874
Forward Looking Statements
Statements in this public announcement that are not statements of historical or current fact, including statements regarding future growth and future business results, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause CyberDefender's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause CyberDefender's results to be materially different from the forward-looking statements include, but are not limited to, whether CyberDefender will be able to find financing as required and whether CyberDefender's revenues will eventually exceed its expenses. The forward-looking statements also are subject generally to other risks and uncertainties that are described from time to time in CyberDefender's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.