On Friday, Beer Sheva, Israel-based cybersecurity firm SIGA announced that it is opening a new regional headquarters in Luxembourg to rapidly scale its services for the cyberdefense of national infrastructure and manufacturing facilities across Europe. SIGA said it plans to leverage its new Luxembourg office to expand its customer base and distribution networks with industrial automation and OT cybersecurity partners.
Last week, SIGA joined the House of DeepTech Roundtable with the Ministry of Economy of Luxembourg, along with Chief Information Security leaders in Europe to trade notes on best practices and lessons learned internationally.
“Moving beyond the network security layer to level zero is critical to the effective cyber risk governance of our manufacturing hubs and critical infrastructure,” said Francois Thill, Director of Cybersecurity and Digital at Luxembourg’s Ministry of Economy. “We welcome SIGA into Luxembourg and to accelerate the company’s impact across the European Union.”
According to October 2021 figures from Research and Markets and provided by SIGA, the global cybersecurity market was valued at $183.3 billion in 2020, and is on pace to grow at a compounded annual rate of 11.6 percent 2021 to 2030, by which time it could approach $540 billion. SIGA chose Luxembourg to site its European headquarters, as it was recently voted second most inclusive economy globally and second in the world for market access and infrastructure.
“SIGA selected Luxembourg as our strategic gateway to the European Union,” SIGA CEO Amir Samilioff said. “With the support of our partners at the House of DeepTech and the Ministry, we can accelerate our R&D development, investments, and commercial scale.”
The accelerating pace of cyber attacks on infrastructure poses greater public safety and economic risks to industry and the public, forcing Chief Information Security Officers (CISOs) to anticipate new forms of third-party risk, whether from attacks or catastrophic accidents. The high effectiveness of level zero detection of incipient attacks and accidents adds unique value to the cyber risk governance stack.
As for every system connected to the Internet, CISOs must adequately secure their industrial control systems. Yet, SIGA points out, industrial physical processes are often overlooked in this mission because they are tied to legacy mission-critical systems and depend heavily on low-level sensor/actuator infrastructure.
SIGA’s mission in Europe is to expand its footprint to secure the integrity of critical OT processes by delivering AI-enhanced monitoring and in-depth operational situational awareness. SIGA says its machine-learning-based solution is designed to monitor the most reliable level of process data within any operational environment, the physical layer, and detect anomalies that indicate cyberattacks or operational faults. Working with global industrial automation partners, SIGA use this cybersecurity solution to grow its global footprint of energy, oil and gas, water utilities, data centers, and heavy industrial and manufacturing clients.
SIGA’s investors include PureTerra Ventures, a Dutch fund that specializes in water and infrastructure investments, AWZ Ventures, SIBF, Moore Strategic Ventures, and a German electrical and control systems manufacturer, Phoenix Contact.
