- They said that this investment represents a strategic undertaking to increase Telefónica’s cooperation with Nozomi Networks
- Over the next four years the ICS (industrial control systems) security market is expected to experience a 23 per cent compound annual growth rate (CAGR)
Telefónica, through TIV (Telefónica Innovation Ventures), its corporate venture capital vehicle, has made an investment in operational technology (OT) and IoT security provider Nozomi Networks Inc. They said that this investment represents a strategic undertaking to increase Telefónica’s cooperation with Nozomi Networks.
Nozomi Networks specialises in protecting OT and IoT infrastructures in sectors like energy, pharmaceuticals, manufacturing, logistics and the automotive industry. It said that its products are deployable onsite and in the cloud and span IT, OT, and IoT to automate the work of inventorying, visualising and monitoring industrial control networks through the innovative use of AI.
Gain advanced visibility
Guenia Gawendo, director of Telefónica Innovation Ventures said, “With this investment in Nozomi Networks we are reinforcing Telefónica’s commitment to cybersecurity in industrial environments and critical assets exposed to constant and ever-changing threats. Monitoring and threat detection systems are highly important in helping to minimise these risks and in this field, the artificial intelligence-based technology developed by Nozomi Networks is essential for our industrial customers.”
The investment through TIV reinforces the partnership agreement announced earlier this year between the cybersecurity company ElevenPaths integrated into Telefónica Tech, and Nozomi Networks. This partnership will help industrial infrastructure operators to gain advanced visibility and manage their security by means of a smart managed security service provide (MSSP) solution. The managed security service is available through ElevenPaths. It incorporates the Nozomi Networks solution to provide risk management capabilities for industrial network and critical infrastructure customers including energy, utilities and others
Pedro Pablo Pérez, CEO of ElevenPaths, Telefónica Tech’s cybersecurity company said, “The COVID-19 pandemic has accelerated the need for companies to improve the visibility of their assets and update their inventories, as they urgently obtain new devices and applications to enable the possibility of teleworking.
Invest in detecting, monitoring and mitigating OT and IoT-related risks
Over the next four years the ICS (industrial control systems) security market is expected to experience a 23 per cent compound annual growth rate (CAGR). Edgard Capdevielle, CEO of Nozomi Networks said, “The support of Telefónica – one of the world’s largest international telecommunications providers and a leader in developing and delivering security services – helps strengthen global awareness for Nozomi Networks technology. Telefónica fully understands that it’s no longer enough simply to protect IT networks. It’s also essential to invest in detecting, monitoring and mitigating OT and IoT-related risks.”
