View from Peter Lancos, CEO
"Welcome to eXate's Global Data Diaries! This week we're looking at how some organisations have turned to acquiring companies in the cyber security space as a way to secure networking and cyber remediation product offerings...
The global COVID-19 pandemic has resulted in huge levels of digital transformation over the past two years. Data Security remains a pressing priority for all corporations today as companies are turning to technology to safeguard themselves from business disruptions caused by cyber-attacks, especially as a result of the sudden surge in remote working. Security-centred investments - in the cybersecurity, fintech, AI, cloud and managed service space - have become more common and deemed crucial to sustaining growth and progress. One example is Deloitte, who recently announced the acquisition of two such companies - Sentek Global and TransientX.
In other major news, online retail giants Amazon have been hit with a $886m fine for for allegedly breaking European Union data protection laws. The fine was issued by Luxembourg's National Commission for Data Protection, which claimed the tech giant's processing of personal data did not comply with EU law.
Deloitte acquires Sentek and TransientX to beef up cybersecurity
Deloitte recently announced the acquisition of Sentek Global and TransientX, in a bid to bolster its secure networking and cyber remediation product offerings. Deloitte said the deals, the terms of which weren’t disclosed, will add Sentek’s and TransientX’s employees and technologies to Deloitte’s existing offerings, services, and solutions.
Amazon Slapped with Record Fine for Violating EU Data Privacy Rules
Leading investment banking firm Morgan Stanley reported that hackers accessed its customers’ sensitive information in a Amazon.com Inc has been hit with a record $886.6 million (746 million euros) European Union fine for processing personal data in violation of the bloc’s GDPR rules, as privacy regulators take a more aggressive position on enforcement.
The 57 Biggest Data privacy in China: Zhejiang province proposes rule to ‘destroy’ personal data collected during emergencies
China’s eastern province of Zhejiang, which is leading the country in applying big data technology to administration, has drafted rules stipulating that personal data collected during a public emergency should be either “sealed” or destroyed after use, a decision that would put certain checks on government agencies.