Lockheed-Martin to invest in Israeli cybersecurity know-how

[InfoSec News <alerts () infosecnews org>]

http://www.timesofisrael.com/lockheed-martin-to-invest-in-israeli-cybersecurity-know-how/

By David Shamah
The Times of Israel
January 27, 2014

For its first major investment in Israeli technology, Lockheed-Martin is 
looking for innovative cyber-security ideas and projects -- which would 
seem a bit out of character for a company best known for defense systems, 
aerospace, and even space systems. "A lot of people do think that, but it 
happens that we actually do a lot of information technology work, which 
means we need a lot of cyber-security," said Chandra McMahon, Senior VP 
Commercial Markets, Lockheed Martin IS&GS. "We need good cyber 
technologies to protect our customers, and Israel is a great place for 
that."

At a special ceremony Monday, McMahon, along Bob Eastman, Vice President 
Global Solutions at Lockheed-Martin, Dr. Orna Berry, head of EMC Israel, 
and Professor Rivka Carmi, President of Ben Gurion University, signed a 
deal in which the three organizations will work together to ferret out 
promising Israeli cyber-security start-ups, and help them develop their 
technology into commercial products. Under the deal, the companies will 
invest together and fund start-ups, which will work at EMC’s R&D 
facilities in the Advanced Technologies Park in Beersheva.

LH’s Information Systems & Global Solutions unit (IS&GS), which McMahon 
helps run, is a large division of Lockheed-Martin that is not typically 
associated with the company -- but as it happens, LH is the number one IT 
solutions provider to the U.S. federal government. "We have nearly $9 
billion in sales annually, supporting our clients in the private sector, 
government, and defense arena," said McMahon. "All of them use our systems 
and need cyber-security solutions, which we help them to find and 
maintain. And of course, as a leading defense contractor, we ourselves are 
prime targets for hackers."

[...]

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