) or H-P has been awarded a cybersecurity task order by the U.S.
Department of Homeland Security (DHS). The contract is valued at
$32.4 million and is aimed to strengthen cybersecurity and
safeguard the networks of 33 government agencies against
Per the contract, Hewlett-Packard will provide a software
security product license to develop a preventive mechanism
against cyber-attacks. This five-year contract makes
Hewlett-Packard a major player in security assurance software
under the DHS Continuous Diagnostics and Mitigation (CDM) Blanket
Purchase Agreement (BPA), which was initiated in Aug, 2013.
Initially, the company was selected as technology provider by the
DHS for the Continuous Diagnostics and Mitigation (CDM), Tools
and Continuous Monitoring as a Service (CMaaS) General Services
Administration (GSA) Blanket Purchase Agreement (BPA). The
contract was valued at $6 billion over a one-year base period
with four one-year options to support system against
In today's technology driven world, cyber-crime has become an
area of major concern. Enterprises and government agencies
continue to suffer owing to a significant increase in
cyber-attacks and are therefore looking for more stringent
cybersecurity measures to plug the loopholes in the system. Just
recently, the breach of sensitive information of the Department
of Energy recently affected approximately 104,000 people.
According to the 2013 Cost of Cyber Crime Study, enterprises
affected by cybercrime spend an average of $11.56 million to
recover over a 10-month period, which has increased 78% since the
time the study was first completed four years ago.
The Study also revealed that corporations are deploying advanced
security intelligence tools in their IT systems such as security
information and event management (SIEM), network intelligence
systems and big data analytics to mitigate cyber threats.
Enterprises are adopting strong online security measures against
cyber-crime and efforts are being made to improve coordination as
well. To capitalize on this market potential, cyber security
providers such as
) and McAfee, a subsidiary of
), are developing new and innovative security solutions to cater
to their clients.
Currently, Hewlett-Packard has a Zacks Rank #2 (Buy).
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