Cyber business at Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) continues to grow. The company ended 2016 with cyber contracts worth over $100 million, all of which were deals in the field of cyber intelligence, cyber forensics and analysis, and national-level cyber defense centers.
In addition, IAI and ELTA’s boards of directors have authorized the establishment of a division for cyber business as part of IAI's ELTA subsidiary. Esti Peshin has been appointed as General Manager of IAI’s Cyber Division.
IAI President and CEO Joseph Weiss said, “We consider cyber to be a strategic field of activity and a growth-engine at IAI, and expect it to continue to expand significantly in the coming years. The establishment of IAI's Cyber Division serves as infrastructure for continued extensive activity. We will continue to invest in cyber companies and research and development centers in order to continue to expand in this field and I wish Esti Peshin and the employees at the cyber division all the success.”
Peshin said, “IAI is expanding its role as a significant global cyber player. Our advanced technological capabilities, excellent human capital and extensive partner network will enable us to continue to develop and serve as a significant force for the Company’s business growth.”
Cyber security has been identified by IAI as a strategic field and growth-engine for the company. IAI is developing cyber solutions and unique and advanced capabilities for intelligence, monitoring, identification and accessibility and offers its customers a variety of abilities to cope with various cyber threats. IAI operates R&D and innovation centers in Singapore, Switzerland and Israel and also leads the Israel Cyber Company Consortium (IC3), which offers end-to-end solutions for national cyber systems and is comprised of leading Israel cyber companies.
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2017
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