Mass. cyber security firms untangle Web attacks [Boston Herald]
(Boston Herald (MA) Via Acquire Media NewsEdge) Sept. 07--A string of high-profile hackings over the last year has turned out to be a boon to Bay State companies that specialize in cyber security.
At the Xconomy summit on innovation, technology and entrepreneurship at Babson College, Tom Leighton, CEO of Akamai, the Cambridge company that delivers nearly a third of global Web traffic, said 74 percent of U.S. companies experienced one or more cyber attacks in the last year. That has translated into a windfall for local cyber security companies such as Dynamics Research Corp. of Andover, which this week became one of 17 winners of a $6 billion blanket purchase agreement with the Department of Homeland Security to provide continuous monitoring throughout the federal government.
As cyber attacks become more common, demand for DRC's services has soared, pushing up its stock price and catapulting its revenues from $225 million in 2007 to more than $300 million last year.
Likewise, Bedford-based RSA, the security division of EMC, has seen its revenues increase from $828 million in 2011 to $888 million last year.
"The part of our business growing fastest is small to medium-sized businesses," said Chester Wisniewski, senior security advisor at Sophos in Burlington. "Even mom-and-pop shops that thought they were immune to cyber attacks now are realizing they have to do something to protect themselves."
Josh Neffinger, president of the New England chapter of the Information Systems Security Association, said there has been particular demand for companies that sell software and services that guard against persistent threat attacks.
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