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 has been appointed as the CEO of the new company, bringing his expertise from Norwegian mobile security specialist Cayes and Orange Cyberdefence Norway.
“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 Cyberdefence will offer businesses a Security Operations Centre (SOC) for 24/7 monitoring, prevention, detection, and response to cyber threats, as well as providing specialist expertise through consultancy services and testing of IT systems and infrastructure.
Cybersecurity has been a growing concern for businesses, with a survey conducted by Norstat showing that 20% of business leaders in Norway have experienced cyberattacks in the past year. Nearly 9 out of 10 business leaders are concerned about their operations being crippled by a cyberattack.
“The Norwegian SOC market is worth around NOK 3bn [$280m] annually,” stated Kronen. “Telenor Cyberdefence has ambitions to expand its operations across all Nordic markets, presenting a significant opportunity for rapid growth.”
The new company will be part of Telenor Amp, the branch of the operator that oversees emerging new business units. Dan Ouchterlony, head of Telenor Amp, emphasized the importance of digital security in the face of increasing cyber threats.
When Telenor reported its first quarter results in April, it highlighted a rise in cybersecurity threats, 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 this announcement on Telenor’s website.
– Ray Le Maistre, Editorial Director, TelecomTV