Boston, MA 01/27/2014 (wallstreetpr) – EMC Corporation (NYSE:EMC) is joining forces with Lockheed Martin Corporation (NYSE:LMT) to set up a cyber security center in Beersheva, Israel. The exact financial details about this joint venture have not been disclosed, however, various media outlets have reported that the project could cost around $1 million.
That the two companies are coming together to establish an information security laboratory reveals the extent to which global surge in cyber crime is causing headache to players in cyber communication.
EMC Corporation (NYSE:EMC) operates various subsidiaries that are involved in development, delivery and support of information technology. The company is a key player in virtual infrastructure technologies, information infrastructure, solutions and services.
EMC is now expecting to bring its expertise in dealing with cyber threats. Its joint venture with Lockheed Martin in Beersheva will result in employment for the local workers and the solutions developed at the center will feature in the technological solutions offered by EMC and Lockheed Martin.
EMC Corporation (NYSE:EMC) has been part of the Israeli tech ecosystem for many years. However, its cyber security partner in the $1 million project in Beersheva, Lockheed Martin, is quite new in Israeli high-tech ecosystem landscape. Lockheed Martin is often heard around aviation and defense solutions, hardly computer services. Yet Lockheed Martin is one of the world’s largest computer services contractors.
Who gains from the cyber partnership?
The two companies involved in the project are looking to gain in their various business orientations. Lockheed Martin is apparently keen to expand its computer information security activity in Israel. As for EMC Corporation (NYSE:EMC), the company hopes that through this partnership it will be able to accelerate its research and development which is key competitive edge for its development.
Conclusion
EMC Corporation (NYSE:EMC) is seeking a stronger position in information security platform and cyber threats surge. Improving position in this area will result in better revenue, profit and share performance for the stock in the coming years.
