In response to the increasing threat of cybercriminals, Telenor is set to launch a new company, Telenor Cyberdefence, focused on providing cybersecurity services to enterprise users in the telco’s Nordic stronghold.
Thomas Kronen, who previously worked for Norwegian mobile security specialist Cayes and Orange Cyberdefence Norway, has been appointed as the CEO of the new company.
“We have never experienced cyber threats as frequent and severe as we do today,” noted Sigve Brekke, the current CEO and president of Telenor. “The business digital landscape is under constant attack, making robust cybersecurity more critical than ever. Telenor has decided to establish a new cybersecurity company with Nordic ambitions.”
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. The company will also provide specialist expertise through consultancy services and testing of IT systems and infrastructure.
Cybersecurity has been a growing concern for businesses for years, with enterprises increasingly relying on digital platforms and services for their core operations and growth strategies. A survey conducted by Norstat on behalf of Telenor revealed that 20% of business leaders in Norway had experienced cyberattacks in the past year, with nearly 9 out of 10 expressing concerns about potential cyber threats.
Kronen stated, “Businesses across all sectors are increasingly being targeted by cybercriminals, and there is a significant unmet need in the market. We want to capture a share of this.”
Telenor Cyberdefence aims to expand its operations across all Nordic markets and capitalize on the growing demand for cybersecurity services. The new company will be part of Telenor Amp, which oversees emerging new business units within the operator.
Dan Ouchterlony, head of Telenor Amp, emphasized the importance of digital security in the face of increasing cyber threats. He stated, “This is a challenge we are taking seriously by establishing Telenor Cyberdefence and purposely focusing on digital security.”
Telenor reported a rise in cybersecurity threats in its first quarter results, with a nearly 70% increase in digital attack attempts against its customers compared to the previous quarter.
For more information on the launch of Telenor Cyberdefence, visit the official announcement.