HCL technologies to Double its investments on Cybersecurity space

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HCL technologies doubling its investments on Cybersecurity space

HCL Technologies country’s fourth-largest software services firm with BSE -0.40 % is intensifying its investments in the cybersecurity space and is looking at advancement of its three facilities in India.

The techno giant is also planning a new Cyber Security Fusion Center in Dallas, Texas, US and is open to acquisitions to further beef up its presence in this space.

In the last one year, corporations across the world have become increasingly cognizant of cyber attacks due to recent ransomware attacks such as WannaCry‘ said Maninder Singh, corporate vice president, CyberSecurity Services at HCL Technologies.

Also, the emergence of new technologies such as Internet of Things and new regulations around the world is leading companies to beef up their cybersecurity budgets.

‘Three centres in India, Noida, Chennai and Bengaluru, were called security operations centres earlier and now they are being upgraded to be “cyber security fusion centres” Singh stated.

HCL is also combining its existing centre in Cary in North Carolina, US into a bigger facility in Dallas. HCL has a centre in Gothenberg in Sweden that came as part of the recent Volvo acquisition by the company.

Singh also mentioned “The upgrading is in terms on new enhancements in the platform such as advanced analytics, machine learning, and artificial intelligence. We are applying these to our existing platform which makes it more robust, more enriching from an analytical perspective and more ready to respond to emerging threats,”

Mr. Singh also added that these centers give the company footprint in the three major continents. They monitor the environment 24×7, 365 days and have separate emergency response teams. “They get a lot of threat intelligence from industry sources, and then collate them. They are preventive and reactive but the predominant role is preventive,”

The company could spend as much as a few million dollars on upgrading of these facilities and its cybersecurity practice overall, said Singh without sharing an exact number.

As per the industry estimation the size of the IT cybersecurity services and products market is predictable to be $120 billion and is expected to grow at 10-12%.

Several big turns in technology are driving the mounting uptake for not just cyber security products but also managed services, he said.

These swings include the popularity of cloud, where companies are moving application from in premise to a mixture of in premise and cloud. “The second is digitization of applications and corporations where the first screen is mobile now in many cases.”

He also added that regulations and compliance are also becoming extremely strict with the European GDPR law and China Internet law. “With IoT (Internet of Things), there is emergence of millions and billions of connected devices compared to a just a few hundred thousands, or lakhs a few years ago.”

The recent ransomware attacks have also considerably augmented the awareness about cyber security among corporations, added Singh.

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Jatin Bhatia, From ITvoir News Desk

 

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