With IoT devices fast graduating to the entry point-of-choice for cyber attacks, regional businesses are becoming increasingly vulnerable to data breaches, unauthorised access to corporate networks, production downtime and subsequent revenue losses. Responding to the growing need for a comprehensive defense system, Spire Solutions has partnered with IoT and firmware security solutions provider Finite State to bring its unique, proactive IoT security platform to the Middle East.
“The growing deployment of IoT devices within the corporate infrastructure is an asset, of course, but can also scale up risk. Backdoor accounts, software vulnerabilities and poor authentication are common problems. Simply keeping devices updated with manufacturer patches or depending on your enterprise security stack is not always effective,” said Avinash Advani, CEO of Spire Solutions.
With smart city initiatives on the rise across the region, companies in the Middle East are investing heavily in IoT to drive sustainable performance and optimise costs and operations. In fact, the Middle East and Africa IoT spend will likely double from USD 6.99 billion in 2018 to USD 12.62 billion by 2021.
But as pointed out by the Spire Solutions CEO, this proliferation of IoT has translated into mounting vulnerabilities — a single unsecured IoT device can undo an organisation’s best-laid cyber security plans.
“The Finite State Platform employs national-security grade capabilities to identify and secure IoT vulnerabilities. With its ability to provide unparalleled visibility into IoT devices, detect and assess risks, isolate attacks and send advance alerts to IT teams, it can be a tremendous asset to businesses in the Middle East. After evaluating its reach and reputation within the region, we believe Spire Solutions is the right partner to help us bring this platform to the Middle East,” said Matt Wyckhouse, CEO of Finite State.
Advani added: “We have built our reputation for being the region’s preferred security partner by offering value-driven tools and services that efficiently solve a broad range of IT management challenges. The Finite State Platform is a unique, comprehensive tool to defend against IoT vulnerabilities, unlike any the region has seen so far.”