Dubai: IBM’s longstanding Middle East partner, Gulf Business Machines has bought a majority stake in Dubai-based Coordinates Middle East, which is into cyber security services.
Coordinates, which came into being in 2015, has emerged as a ‘pure-play’ managed detection and response firm. The company’s clients include those in oil and gas, government, healthcare, and financial services.
“Our acquisition is a big step forward in strengthening our security services offering and skills to our customers and draws upon our legacy in the region of helping organizations enhance their cybersecurity capabilities,” said Amr Refaat, CEO at GBM. “This is a significant milestone in the evolution of the managed detection and response market.”
Spending on security hardware, software and solutions is growing across the META region, according to IDC.
Gulf Business Machines (GBM) has announced the acquisition of Coordinates Middle East majority shares, a regional Managed Detection & Response firm headquartered in Dubai.
“The combination of GBM’s depth, expertise, and reach in the region, along with Coordinates' adaptive, bespoke cyber defense technology will help us support enterprises of all sizes to defend against emerging cybersecurity threats,” said Tarek Ghoul, Founder and CEO of the cybersecurity firm.