Subex, a leading security solution and telecom analytics provider announced its partnership with Telefónica on a new cybersecurity venture focussing on IoT Security. This collaboration will be realised through a new cybersecurity unit recently launched by Telefónica.
As the number of devices connected to the internet grows exponentially, the risks associated with them also grows in parallel. To address these threats and to promote IoT implementation, Telefónica has launched this initiative with a twofold objective. On the one hand, this unit will strive to expand the existing catalogue of IoT products and services offered to customers and, on the other hand, to develop new IoT security solutions to cater to the existing and emerging threats faced by businesses deploying IoT. This unit will leverage Telefónica's existing network infrastructure and the Kite Platform, an IoT connectivity management platform that allows businesses to improve efficiencies while reducing costs.
As part of the new solutions developed by this new initiative, Telefónica, via its ElevenPaths cybersecurity unit, has expanded its collaboration with Subex, with whom it already offers a Fraud Management as-aservice solution (FMaaS). The new scope of collaboration extends to analysis of the data traffic generated by IoT devices, and detection of specific threats in this field.
Considering many IoT devices have limited capabilities in terms of having in-built software to protect them, the offer of cybersecurity solutions embedded within the network and traffic is a differential factor. Subex's IoT-specific platform is capable of analysing traffic by applying machine-learning algorithms, generating an alert every time it detects a threat that jeopardizes cybersecurity of the IoT device.
"Cybersecurity has become one of the companies' priorities. We are seeing the emergence of a culture around security that is sensitive to processes, strategies and methods designed to minimize risks while increasing value. This collaboration with Subex represents a step forward in our strategy of helping companies protect their investments, assets, and credibility", said Pedro Pablo Pérez, CEO of ElevenPaths and VP of Global Security at Telefónica.
"This agreement will add a new dimension to our existing relationship by enabling us to work together towards securing the IoT ecosystem", indicated Vinod Kumar, Managing Director and CEO, Subex. "Amidst all kinds of attacks by cybercriminals and other groups, we want to protect the ecosystem and ensure that IoT projects deliver value. I am confident that IoT businesses will derive significant benefits from our joint efforts".
Together with the detection of threats in IoT, the IoT Cybersecurity Unit will also offer management of secure credentials for devices and DNS security. In addition, it has adapted part of its catalogue of generic cybersecurity solutions to IoT, such as SandaS for the management of GRC (Governance, Risk, and Compliance) capacities, or CyberThreats for the early detection and identification of Internet threats.
Shares of SUBEX LTD. was last trading in BSE at Rs.6.11 as compared to the previous close of Rs. 5.9. The total number of shares traded during the day was 208298 in over 194 trades.
The stock hit an intraday high of Rs. 6.15 and intraday low of 5.76. The net turnover during the day was Rs. 1255932.