[ISN] Israeli cyber security businesses poised to gain from Syrian crisis

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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