Telenor is establishing a new cyber security company to meet the increasing demands from businesses, amid an unprecedented surge in cyberattacks targeting Norwegian businesses. Telenor cited a recent Norstat survey found that one in five business leaders reported having experienced cyber incidents in the past year, affecting around 130,000 Norwegian companies.
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Cyberattacks on Norwegian Businesses
"We have never experienced cyber threats as frequent and severe as we do today. The business digital landscape is under constant attack, making robust cybersecurity more critical than ever. Telenor has decided to build on its experience and expertise as one of the Norway’s strongest security players and is establishing a new cybersecurity company with Nordic ambitions," says Telenor.
The company announced that the newly formed company, named Telenor Cyberdefence, will become part of Telenor Amp. Today, Telenor Amp’s portfolio is comprised of 15 fully- or partially-owned companies with a combined value of NOK 10-12 billion, Telenor said.
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Strategic Expansion and Expertise
"The exponential growth of data and the increasing digitalisation of society are providing criminals with a larger digital landscape to attack. This is a challenge we are taking seriously by establishing Telenor Cyberdefence, and purposely focusing on digital security. This will enable us to develop advanced security products for the business market more rapidly and more effectively meet market needs," says Telenor Amp.
Telenor Cyberdefence will offer businesses a Security Operations Centre (SOC) for 24/7 monitoring, prevention, detection, and response to all types of cyber threats and incidents, along with consultancy services and IT system testing.
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The new company will start with around 70 Norwegian businesses as clients and incorporate approximately 50 security personnel from Telenor Norway. Telenor says this builds on Telenor’s established security capabilities and recent enhancements, including an internal Cyber Security Operation Centre focused on protecting critical IT and telecom infrastructure.
