Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Leonardo eyes partnerships in cyber security expansion - CEO

Leonardo eyes partnerships in cyber security expansion - CEO
FILE PHOTO: Leonardo CEO Alessandro Profumo is seen on a screen at the defence group's headquarters in Vergiate, near Milan, Italy, January 30, 2018. REUTERS/Massimo Pinca -
Copyright
Massimo Pinca(Reuters)
Euronews logo
Text size Aa Aa

ROME (Reuters) – Italian defence group Leonardo is seeking partnerships with hi-tech companies in the cyber security sector, Chief Executive Alessandro Profumo said on Tuesday.

The state-controlled group, which already counts the North Atlantic Treaty Organization (NATO) and Britain’s defence ministry among its clients for cyber security products and services, has recently created a new division specialising in the sector.

The division employs about 1,500 people and has annual turnover of 400 million euros (353.4 million pounds), representing 3% of Rome-based Leonardo’s total revenue.

“We are looking at small companies that have interesting technologies,” Profumo told journalists on the sidelines of a Cyber security event in Rome, adding that it could look at equity investments as well as cooperation agreements.

In a speech at the annual Cybertech conference, Profumo said that the global market for products and services in the cyber security business is estimated to reach $180 billion by 2021.

(Reporting by Francesca Landini; Editing by David Goodman)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.