International Business Machines Corporation (NYSE:IBM) disclosed securing a five-year contract with $26 million in initial funding from the U.S. Agency for International Development (USAID).

The contract will support the Cybersecurity Protection and Response (CPR) program, enhancing cybersecurity for host governments in Europe and Eurasia.

Alice Fakir, Partner, Lead of Cybersecurity Services, U.S. Federal Market for IBM Consulting, stated, “For USAID host countries to benefit from IT modernization efforts, they must incorporate cyber threat mitigation and capacity-building into their program design and implementation.”

IBM’s team will provide the continuous service needed to help USAID strengthen the ability of host government agencies and critical infrastructure operators to identify, protect, detect, respond to, and recover from cyberattacks.

Ambassador Erin E. McKee, Assistant Administrator, Europe and Eurasia Bureau for USAID, said, “Working with IBM and leveraging the company’s global experience and leadership in cybersecurity services, we are one step closer to meeting our strategic goals of improving development and humanitarian assistance outcomes through the use of digital technology and strengthening open, secure, and inclusive digital ecosystems.”

This week, HashiCorp Inc. (NASDAQ:HCP) disclosed that its stockholders have preliminarily voted to approve its acquisition by IBM at the Special Meeting of Stockholders.

According to a regulatory filing, on July 12, HashiCorp and IBM each received an FTC request for additional information and documentary material in connection with the merger review.

Also Read: What To Expect From IBM’s Q2 Earnings? BofA Forecasts No Change In Annual Outlook

Price Action: IBM shares are up 0.52% at $186.77 at the last check Wednesday.

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

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