(Alliance News) - CY4Gate Spa announced on Wednesday that it has signed a contract worth a total of more than EUR6.5 million for the execution of a series of projects in the Defense sector with ELT Group, a leading European company in Electronic Defense for more than 70 years and a major shareholder of Cy4Gate Group.

As the company explained, the contract, to be executed within the year, "stems from the need to combine ELT Group's expertise in the Electronic Defense domain and in the management of the electromagnetic spectrum in the cyber domain, in order to realize increasingly effective solutions in the segment of CEMA - Cyber Electro Magnetic Activities, i.e., the exploitation of the spectrum for the purpose of protecting its military assets from hybrid radio frequency and cyber threats, as well as to simulate hybrid cyberwarfare scenarios in the various domains and to design, finally, solutions equipped with 'secure by design' architectures."

Emanuele Galtieri, CEO and General Manager of Cy4Gate Group, commented, "These are a series of revolutionary projects in terms of innovation, the positive spin-offs of which are evident. We have entered an era in which digitization increasingly pervades every sector, and the field of Defense is certainly no different. There has long been talk of the so-called "Internet of Battlefield Things" in which sensors and platforms employed in Defense and Security collaborate, cooperate, and exchange data."

"And the cybersecurity of such assets can only go hand in hand with such technological advancements. Through this program we will further consolidate the synergies between Cy4Gate and our main industrial partner as well as major shareholder, with whom we have always collaborated on the implementation of AI-assisted cyber and big data management capabilities in the Defense sector. I am particularly pleased, therefore, with this new milestone that will enable us to realize important technological and know-how advancements that will also benefit our product portfolio."

CY4Gate's stock is up 8.4 percent at EUR6.10 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.