Cisco Partners With Taiwan To Combat Cyber Threats: Report

Digital communications technology conglomerate Cisco Systems Inc CSCO is reportedly planning to establish a cybersecurity center in Taiwan and collaborate with the local government to expand the cybersecurity workforce.

This initiative was unveiled on Monday as part of the company’s ongoing efforts to enhance digital security infrastructure in regions facing high cyber threat levels, reported Reuters.

The decision follows continuous reports of cyberattacks targeting Taiwan, which authorities suspect originate from mainland China.

Despite China’s denial of such activities, the intensity of these cyber operations has prompted huge concerns.

As part of its broader “Taiwan Digital Acceleration Plan 3.0,” Cisco aims to address not only local cybersecurity needs but also a global shortage of skilled cybersecurity professionals.

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This strategic plan includes partnerships with Taiwanese tech associations to bolster threat intelligence and cyber readiness throughout the region.

During a press briefing, Guy Diedrich, Cisco’s Global Innovation Officer, highlighted that the investment in this project would be substantial, reflecting the company’s commitment to fostering a safe digital environment. However, specific financial details were not disclosed.

The initiative also extends to advancing digital technologies across various sectors, including transportation and sustainability operations at Kaohsiung port in southern Taiwan.

Cisco stock has lost more than 11% in the last 12 months. Investors can gain exposure to the stock via First Trust NASDAQ Cybersecurity ETF CIBR and IShares MSCI USA Value Factor ETF VLUE.

Price Action: CSCO shares are trading lower by 0.09% at $45.64 in premarket at the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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