Reuters on how well Darkmatter, a United Arab Emirates company, is progressing in the highly competitive cyber security industry:
Darkmatter was founded three years ago in Abu Dhabi, the UAE capital, by CEO Faisal al-Bannai, an Emirati entrepreneur known for setting up regional mobile phone retailer Axiom Telecom.
The majority of its work, 80 percent, is with the UAE government and related entities, which has included advising federal cyber security agency National Electronic Security Authority (NESA).
That has helped the company, with ambitions to globally compete in the cyber sphere with IBM and Lockheed Martin, to double its revenue each year.
“Today, we’re talking about hundreds of millions of dollars,” Bannai told Reuters at Darkmatter’s Abu Dhabi headquarters.
A UAE government representative was not available to comment on the claims.
Darkmatter has gone on a recruiting spree since it started in late 2014, and has more than tripled its workforce to 650. It has hired executives who have worked at major international companies such as Intel Corporation and BlackBerry, but also some with backgrounds in Western military and intelligence agencies including the U.S. National Security Agency (NSA).
A desire to compete against the likes of IBM and Lockheed Martin is quite an ambitious goal. Hearing about cyber security companies based in UAE is almost unheard of. But what makes this industry so exciting is companies can begin almost anywhere and grow to become global powerhouses.