Telenor creates new company with focus on cybersecurity

Telenor Cyberdefense will offer businesses a Security Operations Centre (SOC) for 24/7 monitoring, prevention, detection and response to all types of cyber threats

Nordic operator Telenor announced the creation of a new firm dubbed Telenor Cyberdefense, with the aim of helping Norwegian businesses to deal with increasing cyberattacks.

Norwegian businesses and public sector organizations are facing more frequent and severe cyberattacks, the telco said in a release. Telenor cited a survey conducted by Norstat, which found that one in five business leaders reported having experienced cyberattacks in the past year.

“We have never experienced cyber threats as frequent and severe as we do today. The business digital landscape is under constant attack, making robust cybersecurity more critical than ever. Telenor has decided to build on its experience and expertise as one of the Norway’s strongest security players and is establishing a new cybersecurity company with Nordic ambitions,” said Sigve Brekke, CEO and president of Telenor.

Telenor Cyberdefense will become part of Telenor Amp, a portfolio which is comprised of 15 fully- or partially-owned companies.

“The exponential growth of data and the increasing digitalization of society are providing criminals with a larger digital landscape to attack. This is a challenge we are taking seriously by establishing Telenor Cyberdefence, and purposely focusing on digital security. This will enable us to develop advanced security products for the business market more rapidly and more effectively meet market needs,” said Dan Ouchterlony, EVP and head of Telenor Amp.

The Norstat survey, conducted on behalf of Telenor, also revealed that nearly 9 out of 10 business leaders are concerned about their operations being crippled by a cyberattack.

“Businesses across all sectors are increasingly being targeted by cybercriminals and there is a significant unmet need in the market. We want to capture a share of this,” said Thomas Kronen, CEO of Telenor Cyberdefense.

Telenor Cyberdefense will offer businesses a Security Operations Center (SOC) for 24/7 monitoring, prevention, detection and response to all types of cyber threats and incidents. Telenor highlighted that the new company will also provide consultancy services and testing of IT systems and infrastructure.

Kronen added that Telenor Cyberdefense has ambitions to expand its operations across all Nordic markets.

The establishment of Telenor Cyberdefense involves the transfer of approximately 50 security personnel from Telenor Norway to the new company. The company will also assume responsibility for Telenor Norway’s existing SOC customers, resulting in Telenor Cyberdefense commencing operations with a customer base of around 70 Norwegian businesses.

Telenor Norway owns and operates critical infrastructure, and as a result, the company notes that it has over the years established a “robust” security environment in Norway. Telenor said it has further strengthened this environment through the establishment of a new and dedicated internal Cyber Security Operation Center (CSOC). This center will focus on Telenor Norway’s IT and telecom infrastructure, further enhancing security for Telenor Norway and its customers, the telco said.

Telenor recently opened a facility in Sweden to test the performance of IoT devices against a range of network scenarios.

Telenor noted that the facility aims to help customers “understand how their connected IoT products behave before deployment”. The site will be equipped with a Faraday cage tailored to test different networks, providing access to connectivity across all of Telenor’s Nordic operations.