February 12, 2018 / 9:59 AM / 2 months ago

French group Thales expects more sales growth in cybersecurity arm

PARIS, Feb 12 (Reuters) - French defence electronics group Thales expects more growth in its cybersecurity business in the coming years, said Thales executive Laurent Maury on Monday.

Maury said Thales’ cybersecurity arm had generated 900 million euros ($1.10 billion) in sales over 2017, up from 700 million euros a year earlier.

He added that Thales forecast sales at its cybersecurity arm growing by about 10 percent annually in the coming years.

High profile cyberhacking incidents in recent years have illustrated the growing importance of cybersecurity for companies and governments.

Last December, research firm Gartner published a report which forecast that worldwide enterprise security spending would total $96.3 billion in 2018, an increase of 8 percent from 2017.

$1 = 0.8153 euros Reporting by Mathieu Rosemain Editing by Sudip Kar-Gupta

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