The internet brought with it numerous opportunities for business. In fact, small businesses can now compete on a global scale even with their limited budgets. There are many online businesses today, such as CMC Markets, and these require their clients to provide certain information about themselves in order to be able to do various transactions online. Some of this information might be very sensitive, for example, clients’ bank account details. If it ends up in the wrong hands, it could be disastrous. This is why the role of cyber security companies cannot be taken for granted. With the rising incidence of cybercrime, there is need for better security measures to ensure that businesses’ data are always secure.
Strategic Partnership
Israeli cyber security company Team8 has formed a partnership with Intel Corporation, the American technology giant. Team8 is known for the successful cyber security companies it has created, and with Intel on its team, it is expected to do even better. This strategic partnership is part of Team8’s efforts in the fight against cybercrime. The other companies on Team8’s team include Qualcomm, Citigroup, Nokia, Microsoft, Eric Schmidt’s Innovation Endeavours, Cisco, Bessemer Venture Partners, Accenture and AT&T.
Each of these companies contributes in its own unique way to improving cyber security. Citigroup deals with the group’s financials and advises the Team8 on various issues to do with finance. Being a technology company, Intel will help in developing products and solutions to current cyber security threats, and also in addressing some cyber risks before they materialise. With Intel on the team, Team8 intends to adopt a proactive approach to fighting cybercrime and not the firefighting approach they used before, where they just did damage control. The synergistic efforts of these companies are bound to greatly enhance cyber security.
The need for cyber security companies
Cyber security threats have been on the rise in recent years and more companies are being created to come up with ways of dealing with them and improving cyber security. Israel is one of the largest cyber security technology centers in the world, with 450 cyber security startups and more expected to be launched in the near future. These startups receive about a fifth of all the capital invested in the cyber security sector.Team8 currently has two companies, Illusive Networks and Claroty. It plans to launch two other cyber security companies soon. One of the founders of Team8, NadavZafir, who is currently the company’s CEO, said that the two companies are still in stealth mode but more details about them will be shared soon.
Advanced cyber attacks
Illusive Networks’ area of specialty is deceptions technology, which helps to identify advanced attackers once they hack into a network. It creates false virtual networks which lure in attackers who can then be easily identified before they do any harm. This has been a huge step in the fight against cybercrime. Intel will work with Illusive Networks to come up with new products based on deceptions technology and improve cyber security even further. The two companies aim to develop products that enable early detection of an attack to stop any further damage.
Illusive will be dealing with software development while Intel will be responsible for hardware development. Cyber attackers keep changing their tactics, and this makes it necessary for cyber security companies to keep looking for new ways to enhance cyber security and stop these attackers. Conventional security measures are not enough to keep attackers off, hence the need for advanced security solutions such as the ones Intel and Illusive are working on.
Conclusion
The innovative products and solutions that Team8 plans to come up with will be of great help in the fight against cybercrime. The strategic partnership between Team8 and Intel is expected to yield great results as the two companies will exchange ideas about how to improve cyber security and come up with even better cyber security measures. With these solutions, online businesses will be able secure their clients’ information and malicious attacks on various websites can be prevented. This is definitely a step in the right direction. Together with the other companies on Team8’s team, the group is now a force to reckon with.
