Israeli cyber security businesses poised to gain from Syrian crisis

[InfoSec News <alerts () infosecnews org>]

http://www.jpost.com/Enviro-Tech/Israeli-cyber-security-businesses-poised-to-gain-from-Syrian-crisis-324893

By NIV ELIS
JPost.com
09/01/2013

The high-profile cyber attacks emanating from Syria may end up giving 
Israel's economy a long-term boost by raising demand from its burgeoning 
cyber security sector.

Before the West could fire a single shot towards Damascus over the use of 
chemical weapons, the conflict claimed a fresh round of cyber victims when 
a group called the Syrian Electronic Army attacked The New York Times and 
Twitter’s servers on Tuesday.

Though not the first such attack by the group that supports Syrian 
President Bashar Assad, the timing as the world anticipated a US-led 
military operation, vaulted the hacking into international headlines.

While the initial economic reaction in Israel to the impending strike was 
negative - the persistently strong shekel took a sudden dip, the stock 
market recoiled, and the risk premium on 5-year certificates of deposits 
jumped up to 140 basis points (1.4 percentage points), from 115 a month 
earlier - Israel may be poised to gain from the exposure in the long run.

"The big headlines help, because they are making cyber security a board 
room discussion," said Gabi Tirosh, general partner at JVP, the largest 
investor in cyber security in Israel today. "In the past, it was something 
very technical that only IT [information technology] staff cared about. 
Now CEOs and COOs [chief operating officers] know that the company is 
going to be evaluated and measured on their ability to continue operating 
under cyber attack. In that sense, the big headlines push up demand."

[...]

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