The undisclosed transaction was completed through Telsy, a TIM Group company focused on cybersecurity, which operates under the name of TIM Enterprise.
The deal enhances and complements TIM's the portfolio of cybersecurity solutions which support large companies and the public administration. The news is also another step in the consolidation of TIM Enterprise's position as Italy's biggest ICT platform in cybersecurity, IoT and the cloud.
“With this transaction will see further growth on the cybersecurity market and strengthen our expertise in managing even more complex cyber risks,” said Eugenio Santagata, chief public affairs & security officer of TIM and CEO of Telsy.
“We are satisfied that TS-Way has joined the Group, which means we can integrate an innovative and entirely Italian platform with the aim of improving the offer for our customers. This means we can also provide qualified experts and increasingly cutting-edge tools available to everyone.”
Specifically, the acquisition will strengthen TIM's visibility in cyber threat intelligence and services linked to predictive defence. Its aim is to prevent IT risks and incidents by exploring unknown vulnerabilities and at enhance its offering of security solutions and services. In doing so, the company also bolsters integration with activities already entirely carried out in Italy by the Security Operation Centers (SOC) and Response Teams (RT) of the TIM Group.
In related news, February saw TIM publish its “better-than-expected results” in 2022.
“Starting 2023, domestic business [is] back to growth after six years,” said the company, which expects to spend €4 billion in capital expenditure this year, of which €3.1 billion will be spent in Italy.
