Leonardo eyes partnerships in cyber security expansion -CEO
ROME, Sept 24 (Reuters) - Italian defence group Leonardo LDOF.MI is seeking partnerships with hi-tech companies in the cyber security sector, Chief Executive Alessandro Profumo said on Tuesday.
The state-controlled group, which already counts the North Atlantic Treaty Organization (NATO) and Britain's defence ministry among its clients for cyber security products and services, has recently created a new division specialising in the sector.
The division employs about 1,500 people and has annual turnover of 400 million euros ($440 million), representing 3% of Rome-based Leonardo's total revenue.
"We are looking at small companies that have interesting technologies," Profumo told journalists on the sidelines of a Cyber security event in Rome, adding that it could look at equity investments as well as cooperation agreements.
In a speech at the annual Cybertech conference, Profumo said that the global market for products and services in the cyber security business is estimated to reach $180 billion by 2021.
(Reporting by Francesca Landini Editing by David Goodman)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.