TLDR:
- CY4Gate Spa has partnered with CDP Venture Capital to establish a joint venture in Rome.
- The joint venture will offer cybersecurity solutions and a dedicated cyber insurance product for Italian SMEs.
In a recent announcement, CY4Gate Spa and CDP Venture Capital SGR have entered into binding agreements to set up a joint venture based in Rome. The joint venture will be equipped with initial assets and capital totaling EUR3 million, with the potential to increase up to EUR9.5 million for future growth. This collaboration aims to provide comprehensive cybersecurity solutions tailored to the needs of Italian small and medium-sized enterprises (SMEs).
The company will offer services ranging from data collection and risk assessment to post-attack recovery plans, ensuring the highest level of protection against cyber threats. Additionally, a cyber insurance product designed specifically for SMEs will be introduced to provide extensive coverage against cyber risks.
With governance shared equally between both partners, the joint venture will be led by Guglielmo Carsana as CEO, bringing over twenty years of experience in leadership roles at IT companies and in the insurance industry. The announcement has sparked positive growth for CY4Gate, closing at EUR6.30 per share.
This strategic partnership highlights a commitment to enhancing cybersecurity measures for SMEs in Italy, addressing the growing threats posed by cyberattacks in today’s digital landscape.
