Telenor Cyberdefence will be led by Thomas Kronen, who has a “long track record in the security and IT industry”.
The newly formed company is comprised of 15 full or partially-owned companies with a combined value of NOK 10-12 billion.
"Telenor has decided to build on its experience and expertise as one of Norway's strongest security players and is establishing a new cybersecurity company with Nordic ambitions," Telenor CEO and President Sigve Brekke said.
The new company will offer businesses a security operations centre (SOC) for 24/7 monitoring, prevention, detection and response to cyber threats and incidents.
The company says it will provide specialist expertise through consultancy services and testing of IT systems and infrastructure.
“The Norwegian SOC market is worth around NOK 3 billion annually, according to our own analysis. Telenor Cyberdefence has ambitions to expand its operations across all Nordic markets, presenting a significant opportunity for rapid growth and establishing a strong market position,” says Kronen.
