Subex partners with Spire Solutions; wins project from oil & gas entity in Middle East
Subex Limited has announced a strategic tie-up with Spire Solutions, which is a leading value-added distributor (VAD) of Middle East & Africa to address the steep rise in cyberattacks and associated cyber risks in the region.
As per the findings of Subex’s latest threat landscape report, segments such as oil & gas, manufacturing, and healthcare have been at the receiving end of complex and persistent cyberattacks in the Middle East. The volume of inbound cyber-attacks grew by 67 per cent in the first four months of 2021 and continues to increase with each passing month.
The collaboration between Subex and Spire will ensure that these businesses are protected at critical infrastructure level security with the most comprehensive stack of internet of things, operational technology as well as in a converged environment (IoT-OT & information technology) protection solution.
Subex and Spire have just been awarded a project by a major oil & gas entity in the Middle East to meet its cybersecurity, device discovery, and cyber risk assessment requirements. The said entity currently manages refinery, petrochemicals, and LNG import operations via one of the biggest petroleum complexes in the region.
The project will help the entity focus on its core business objectives while Subex and Spire ensure secure operations, assets, and infrastructure across various locations & projects.
Subex, founded in 1994, is a leading provider of digital trust, internet of things (IoT), and operational technology (OT) cybersecurity solutions.
With this, the stock of Subex surged 9.5 per cent to Rs 60.10 from its previous close of Rs 54.90 on BSE.