Lockheed Martin, EMC setting up Israeli center

The two companies will reportedly invest $1 million to set up the cyber security project.

With the global surge in cyber, two companies in the field - Lockheed Martin Corporation (NYSE: LMT) and EMC Corporation (NYSE: EMC) - are teaming up to establish a joint center Israel. The companies today announced that they will establish the center in Beersheva. They did not mention financial details or the scale of the activity, but they will reportedly invest $1 million to set up the project.

The investment is intended for the employment of local workers, including from Ben Gurion University of the Negev, which is a partner in Beersheva's information security laboratory, and the solutions developed at the center will be integrated in technological solutions offered by Lockheed Martin and EMC.

Although EMC has been part of the Israeli high-tech ecosystem for a long time, and is a leader player in information security in the country at its development center in Herzliya, Lockheed Martin is a new partner. The company is best known in Israel for its aviation and defense products, but it is also one of the largest computer services contractors in the world, especially for the defense industry.

In the past year, Lockheed Martin revealed its plans to compete in the tender for the establishment of the IDF Intelligence Corp's Five Industries technology campus in the Negev, at an estimated cost of NIS 1 billion. In addition to this activity, Lockheed Martin plans to expand its computer activity in Israel, especially in information security.

Lockheed Martin VP international engineering and technology John Evans said, “We recognize evolving global needs, as well as the wealth of innovation taking place within Israel and its universities.”

"We expect this collaboration with Lockheed Martin will help EMC continue to rapidly accelerate our important research and development," said EMC Israel Center general manager Orna Berry.

Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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