Previously, Tech Mahindra was only focusing on the Indian market before they started acquiring business in the US, UK, Europe and Asia Pacific region. The firm will now look to ramp up efforts to boost their cybersecurity business along with IT infrastructure and IoT.
According to a Gartner report, the global spending on enterprise security will total $96.3 billion in 2018, recording an 8% increase from what was achieved in 2017. Out of this, the spending on security outsourcing services will be $18.5 billion, an increase of 11% from 2017.
Today, companies realise the importance of investing in cybersecurity preparedness to ensure networks, devices and systems are not comprised. By doing so, they not only save prevent financial losses due to the data breach but also prevent damage to their brand.
Tech Mahindra has announced a tie-up with ELTA Systems, a subsidiary of Israel-based defence electronics company called Israel Aerospace Industries (IAI). The partnership is expected to help in designing security operation centers, computer emergency response teams and forensic laboratories. Tech Mahindra will drive the consulting and managed security service division for ELTA systems.
Israel is known for its expertise in innovative cybers security practices. In fact, in 2017, more than 70% of cyber security startups were founded in Israel. These companies have raised over $800 million in funding, which is roughly 20% of the global investments in the cybersecurity space.
Tech Mahindra is skilling and re-skilling its engineers in the cyber security space to meet the growing needs of their customers in cybersecurity.