SAUDI ARAMCO IN­VESTS IN SE­CU­RITY

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CEO Middle East - - NEWS -

SAUDI ARAMCO AND AMER­I­CAN DE­FENCE

Raytheon have signed a mem­o­ran­dum of un­der­stand­ing (MoU) to es­tab­lish a joint ven­ture cy­ber­se­cu­rity com­pany, the com­pa­nies an­nounceD.

The new com­pany will mar­ket and pro­vide cy­ber­se­cu­rity soft­ware and hard­ware ca­pa­bil­i­ties as well as re­search and de­vel­op­ment.

“We are ex­cited about the joint ven­ture which will sup­port the king­dom’s Vi­sion 2030 by cre­at­ing highly skilled jobs for Saudis in the cy­ber­se­cu­rity sec­tor and will sup­port the foun­da­tion for Saudi Ara­bia’s eco­nomic de­vel­op­ment,” said Saudi Aramco’s se­nior vice pres­i­dent of fi­nance, strat­egy and de­vel­op­ment, Khalid Al-Dabbagh.

Al-Dabbagh added that de­mand for cy­ber­se­cu­rity ser­vices is “ex­pected to grow as com­pa­nies move fur­ther into the dig­i­tal space and em­brace tech­nolo­gies such as In­ter­net of Things and big data.”

In Novem­ber, Saudi au­thor­i­ties said they de­tected an “ad­vanced” cy­ber­at­tack tar­get­ing the king­dom, al­though they did not spec­ify on the source of the at­tack of which gov­ern­ment bod­ies were tar­geted.

Pre­vi­ously, Saudi Aramco had been among a num­ber of com­pa­nies that were af­fected by Shamoon in what some said was the coun­try’s worst cy­ber-at­tack yet.

Ac­cord­ing to Raytheon, the new JV will even­tu­ally be­come the “cor­ner­stone” of cy­ber­se­cu­rity in the re­gion.

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