Telenor Forms New Cyber Security Company with Nordic Ambitions

Norwegian businesses and public sector organisations are facing more frequent and severe cyberattacks. 

According to a survey conducted by Norstat, 1 in 5 business leaders reported having experienced cyberattacks in the past year – a staggering 130,000 Norwegian companies. In response to this growing threat, Telenor is establishing a new cyber security company to meet these increasing demands from businesses.

The newly formed company, named Telenor Cyberdefence, will become part of Telenor Amp. Today, Telenor Amp’s portfolio is comprised of 15 fully- or partially-owned companies with a combined value of NOK 10-12 billion.

Thomas Kronen has been appointed CEO of the new company.

Addressing a Significant Market Need

The Norstat survey, conducted on behalf of Telenor, also revealed that nearly 9 out of 10 business leaders are concerned about their operations being crippled by a cyberattack.

Telenor Cyberdefence will offer businesses a Security Operations Centre (SOC) for 24/7 monitoring, prevention, detection, and response to all types of cyber threats and incidents. The company will also provide specialist expertise through consultancy services and testing of IT systems and infrastructure.

Leveraging Strong Security Expertise

Telenor Cyberdefence builds upon Telenor’s established position as a leading provider of digital security solutions for businesses in Norway. As part of Norway’s Total Defence and as a custodian and protector of critical national infrastructure, Telenor possesses unique insights into the evolving threat landscape.

The establishment of Telenor Cyberdefence involves the transfer of approximately 50 security personnel from Telenor Norway to the new company. The company will also assume responsibility for Telenor Norway’s existing SOC customers, resulting in Telenor Cyberdefence commencing operations with a customer base of around 70 Norwegian businesses.

This Nordic expansion follows a recent strengthening of the internal security environment within Telenor Norway. Telenor Norway owns and operates critical infrastructure, and as a result, the company has over the years established a robust and highly competent security environment to fulfil its vital societal responsibilities. Considering the evolving security landscape and the increasing prevalence of cyber-attacks, Telenor has further strengthened this environment through the establishment of a new and dedicated internal Cyber Security Operation Centre (CSOC). This center will focus on Telenor Norway’s extensive and intricate IT and telecom infrastructure, further enhancing security for Telenor Norway, its customers, and Norwegian society.