Acronis Eyes Middle East Market Following Goldman Sachs $147 Million Funding
Cyber protection leader will unveil its latest cyber protection and data backup products at GITEX 2019
Global cyber protection expert, Acronis, is now in the process of stepping up its expansion drive and market position consolidation after it was awarded the Unicorn status by global investment banking, securities and investment management giant, Goldman Sachs.
Armed with a US$147 million funding round by Goldman Sachs, Acronis is now poised to expand its operations in the Middle East, Singapore, Bulgaria and Arizona, build additional data centers as well as grow through strategic acquisitions.
In a move that is largely seen as a market penetration strategy for the Middle East region, Acronis will be making its presence felt at this year’s GITEX Technology Week. GITEX, which is scheduled to start on October 6, is arguably the largest technology show in the Middle East, North Africa and South Asia.
According to Acronis, GITEX Technology Week presents a good opportunity to showcase its cyber protection capabilities and most importantly how the region can benefit from its expertise. Its GITEX participation comes against a backdrop of heightened malware attacks in the UAE, which have increased by 12 percent in the first three months of 2019.
The UAE is one of the most digital-savvy countries in the Middle East - a position that makes it more vulnerable to cyber-attacks due to its high digital consumer.
In 2018 alone, a total of 248 cyber-attacks targeted government departments and private companies. Although this was a decline from previous years, it is also a clear indication that such threats are still imminent in the region.
“Acronis is proud to be showcasing its cyber protection expertise at the 2019 GITEX Technology Week. Our recently acquired Unicorn status firmly puts us in a better position to offer cutting-edge cyber protection solutions to our customers regardless of where they are. Our main focus at GITEX will be to ignite a serious conversation of how businesses operating in the region need to stay protected from the growing threat of ransomware attacks,” said Islam Shaker, regional account manager, Acronis.
Acronis, which was founded in Singapore in 2003 and incorporated in Switzerland in 2008, is the official cyber protection partner of Arsenal and Manchester City football clubs and Williams Formula 1 team.
As part of its GITEX participation, Acronis will also be launching in the UAE market its latest Business-to-Business cyber protection products - the Acronis Cyber Cloud solution, a platform that enables service providers to deliver cyber protection in an easy, efficient and secure way and Acronis Backup, a solution that delivers advanced cyber protection that’s packaged and priced for small infrastructures.
Shaker notes that the volume and sophistication of ransomware attacks have risen steadily over the past few years, becoming one of the most pervasive and expensive online criminal threats in history.
According to Shaker, the Middle East is no exception. Quick detection and termination of a ransomware attack are extremely important. The faster the threat is shut down; the less time it has to destroy files by encrypting them.
