http://www.jpost.com/Enviro-Tech/Israeli-cyber-security-businesses-poised-to-gain-from-Syrian-crisis-324893
By NIV ELIS
JPost.com
09/01/2013
The high-profile cyber attacks emanating from Syria may end up giving
Israel's economy a long-term boost by raising demand from its burgeoning
cyber security sector.
Before the West could fire a single shot towards Damascus over the use of
chemical weapons, the conflict claimed a fresh round of cyber victims when
a group called the Syrian Electronic Army attacked The New York Times and
Twitter’s servers on Tuesday.
Though not the first such attack by the group that supports Syrian
President Bashar Assad, the timing as the world anticipated a US-led
military operation, vaulted the hacking into international headlines.
While the initial economic reaction in Israel to the impending strike was
negative - the persistently strong shekel took a sudden dip, the stock
market recoiled, and the risk premium on 5-year certificates of deposits
jumped up to 140 basis points (1.4 percentage points), from 115 a month
earlier - Israel may be poised to gain from the exposure in the long run.
"The big headlines help, because they are making cyber security a board
room discussion," said Gabi Tirosh, general partner at JVP, the largest
investor in cyber security in Israel today. "In the past, it was something
very technical that only IT [information technology] staff cared about.
Now CEOs and COOs [chief operating officers] know that the company is
going to be evaluated and measured on their ability to continue operating
under cyber attack. In that sense, the big headlines push up demand."
[...]
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