Brocade and Harris Corporation form strategic partnership to deliver cybersecurity solutions
Via Brocade Newsroom
Jun 14, 2016
WASHINGTON, DC--(Marketwired - Jun 14, 2016) - At Federal Forum 2016, Brocade (NASDAQ: BRCD) and Harris Corporation (NYSE: HRS) today announced that they have formed a strategic partnership designed to deliver cybersecurity solutions for advanced protection of an organization's critical assets.
Brocade and Harris intend to jointly develop new solutions integrating Harris cybersecurity technology and Brocade's software-defined networking (SDN) capabilities. The companies are previewing a proof-of-concept solution today at Federal Forum demonstrating how highly scalable cyber maneuvers allow organizations to thwart cyberattacks on critical assets. This solution will be focused on meeting the needs of key market verticals including government, financial services, healthcare, energy, oil and gas, retail and service providers. Brocade and Harris expect to create additional solutions to address other cybersecurity challenges as the partnership progresses.
As cybersecurity continues to take on a more significant role in the framework of national security, IDC Government Insights reports1 that federal IT spending for national security and police or emergency services will increase at a CAGR of 9.3 percent, from $3.7 billion in 2015 to 5.7 billion in 2020.
"Strengthening the cybersecurity of federal and financial networks is one of the most important challenges facing our nation," said Ken Cheng, chief technology officer, Brocade. "Together with Harris, we will develop new solutions that leverage New IP architectures, providing a secure and automated network to improve federal agencies' and financial institutions' resilience to cyberattacks."
Among U.S. companies, 91 percent have been hit by a cyber threat2 and across the globe, the number of costly data breach incidents continues to increase. Cybercrime incidents are also more sophisticated, with hackers spending an average of 205 days in compromised systems before being discovered.
"The increasing number and impact of cybersecurity incidents demonstrate that continuously confronting cyber threats must remain a strategic priority for organizations of all sizes in every industry," said Carl D'Alessandro, president, Harris Critical Networks. "Our strategic partnership with Brocade will allow us to extend our expertise in protecting government assets to other markets."
About Harris Corporation Harris Corporation is a leading technology innovator, solving our customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports customers in more than 125 countries, has approximately $8 billion in annual revenue and 22,000 employees worldwide. The company is organized into four business segments: Communication Systems, Space and Intelligence Systems, Electronic Systems, and Critical Networks.
1 IDC Government Insights, "U.S. Federal Information Technology Security Forecast," Dec. 2015.
2 Bank of America Merrill Lynch, "Making Cents of Cyber-Security," Summer 2015.
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