UAE-based telecommunication operator Etisalat has completed the acquisition of leading German information security services, consultancy and solutions provider Help AG, according to media reports.
The deal to buy Help AG will help Etisalat become more resilient and protect its cloud, IoT, AI and big data line of business against sophisticated cyber threats.
The deal between Etisalat and Help AG will also see the creation of the region’s most prominent cyber security unit.
With regard to the acquisition, Salvador Anglada, Group Chief Business Officer at Etisalat told the media, “Help AG has established itself as the region’s trusted security advisor. With cybersecurity playing a fundamental role in all aspects of digital business today, this acquisition fits perfectly into our strategy of being a key enabler of secure, seamless and effective digital transformation for our customers.”
We have full trust and confidence that Help AG’s leadership will effectively add value to our security portfolio and amplify the cyber security capabilities of our clients.”
Last year, Etisalat signed an agreement to acquire Help AG’s business in the Kingdom of Saudi Arabia and the UAE. During the same period, Etisalat entered into a partnership with First Abu Dhabi Bank and Avanza Innovations to jointly develop a digital platform to digitalise trade in the UAE.
Initially, the platform will focus on addressing the risks of double financing and invoice fraud and later shift its focus to key areas of trade finance.
During the first half of 2019, Etisalat’s subscriber base in the region reached 12.4 million. Its overall subscriber base reached 143 million, which is a 2 percent increase year-on-year.