Wildcraft Collaborates with IBM to Drive Higher Customer Advocacy

IBM has announced that Wildcraft India Pvt. Ltd, India’s foremost company in the manufacturing and distribution of head-to-toe products for trek-to-travel solutions, has selected IBM to implement a Customer Relationship Management (CRM) as-a-service-platform to drive customer advocacy and enhance customer experience.

The solution developed by IBM Services is powered by Artificial Intelligence (AI) & Machine Learning (ML) capabilities and analyses customer interactions with Wildcraft India Pvt. Ltd at multiple touch-points. This 360-degree view of every shopper will help the company provide its customers a personalized shopping experience across all its channels.

The CRM-as-a-service solution ties into ‘The Circle’, Wildcraft’s customer engagement program which provides consumers with a single window to get all relevant information about the brands, products and services of Wildcraft. This initiative is part of the company’s growth plan to drive higher customer engagement by understanding their preferences.

As part of this new CRM solution, Wildcraft is introducing a virtual chatbot on their website and via WhatsApp. This virtual chatbot will be available in English and eight Indian regional languages (Hindi, Marathi, Bengali, Kannada, Oriya, Telugu, Tamil and Malayalam). The virtual chatbot will handle a high volume of inquiries, from general FAQ’s to questions about multiple topics including products, policies and procedures and even customer complaints.

“At Wildcraft, we have always believed in harnessing the power of the unknown. In the last couple of months, we have been able to reach out to some of the remotest areas in the country to enable everyone to be safe and be ready. A lot of these consumers are first time users of Wildcraft and it was necessary to create a mechanism to reach out to them effectively. Partnering with IBM allows us a robust technology driven platform to understand our consumers and their wants. This will help us make our products better and customise them according to the larger needs,” said Gaurav Dublish & Siddharth Sood, Co-Founders, Wildcraft India Pvt. Ltd.

“We are proud to partner with Wildcraft India Pvt. Ltd to drive customer advocacy for higher brand affinity. IBM’s CRM-as-a-service platform has equipped Wildcraft with a 360-degree view to map their customers’ journey - from prospect, to customer, to brand advocate. Every customer will be nurtured at each stage to harness the real power of CRM, in today’s challenging times of the COVID-19 pandemic,” says Kamal Singhani, Managing Partner, Global Business Services, IBM India/South Asia.

The virtual chatbot will authenticate users and facilitate user-specific information and transactions. In addition to understanding the intent of customer conversation through natural language processing (NLP), it will analyse the sentiment of customer responses and transfer the conversation to a live agent, if need be.

IBM Collaborates with National Skill Development Corporation to Offer Free Digital Skills Training

IBM has announced its collaboration with National Skill Development Corporation (NSDC) to offer ‘Open P-TECH’, a free digital education platform, focused on emerging technologies and professional development skills. As a part of the collaboration, IBM will curate online courses from Open P-TECH platform and offer it to users via NSDC’s eSkill India portal  to empower Indian youth on various skills to succeed in future careers.

Under the partnership, IBM  will catalogue its 30 + Open P-TECH courses on eSkill India portal, with 60+ hours of learning, as a knowledge partner. IBM will provide online courses in emerging technologies like Cyber Security, Blockchain, AI and Machine Learning, Cloud, Internet of Things, along with professional skills, like Design Thinking to learners between 18 to 22 years for free.

Dr. Manish Kumar, MD and CEO, National Skill Development Corporation said, "The power of technology should be leveraged for reaching out to the youth with scale and quality. Online trainings through digital platforms like Open P-TECH and eSkill India need to be accelerated to overcome geographical and socio-economic barriers. Digital learning will enable higher participation of women in the labour workforce as the scope for employability will increase.  Overall, digital learning will boost prospects of employment and livelihood for the youth."

eSkill India is  a digital skilling initiative from NSDC that aggregates digital learning resources through various Indian and global knowledge partnerships, to enable access to best-in-class learning resources for the India youth. Currently, over 16 lakh minutes of digital courses and content is available across various sectors in multiple languages, providing learners with the technology and skills needed to prosper in a rapidly transforming digital world. 

Sandip Patel, Managing Director, IBM India/South Asia said, “As the pandemic is driving the digital transition to happen more quickly, there must be new forms of learning if we want to empower young learners with technical and market-related skills. Our collaboration with NSDC is a significant milestone to equip the next generation with digital skills. Open P-TECH will make foundational learning in emerging technology and professional skills for the youth more accessible. Aligned to the country’s SkillIndia mission, we are taking another step in the evolution of our digital education approach to help the next generation of professionals have the exciting future they deserve.”

IBM’s Open P-TECH, a free digital education platform, focused on emerging technologies and professional development skills, was launched in India in March 2020. The platform equips learners and educators with foundational technology competencies, along with workplace learning skills. Under the partnership, Open P-TECH platform will offer courses to  develop soft skills, interpersonal skills, problem solving — a set of 11 key skills which are generally not available in a college curriculum, but are  high in demand and are valued in the job market. Currently available in English, the platform will soon be available in various Indian languages - starting with Hindi, followed by 10 Indian languages including Kannada, Telugu, Tamil, Punjabi, Gujarati, Sindhi, Urdu, Bengali. 

The partnership will offer both learners and educators with direct access to digital learning resources in various trending specializations, thus providing a great way to jump-start career exploration including earning industry supported digital badges. Students can share these digital badges on their online resumes.

In India, previously, IBM has partnered with Directorate General of Training at the Ministry of Skill Development & Entrepreneurship, Central Board of Secondary Education, Niti Aayog and State Department of Education, and State Skills Missions to impact more than 4 lakhs learners and students across 22+ states through its education and skilling initiatives.

Open P-TECH is now available to students and teachers worldwide. Register here: https://open.ptech.org

IBM Report: Compromised Employee Accounts Led to Most Expensive Data Breaches Over Past Year

IBM Security announced the results of a global study examining the financial impact of data breaches, revealing that these incidents cost companies $3.86 million per breach on average, and that compromised employee accounts were the most expensive root cause. Based on in-depth analysis of data breaches experienced by over 500 organizations worldwide, 80% of these incidents resulted in the exposure of customers’ personally identifiable information (PII). Out of all types of data exposed in these breaches, customer PII was also the costliest to businesses.  

As companies are increasingly accessing sensitive data via new remote work and cloud-based business operations, the report sheds light on the financial losses that organizations can suffer if this data is compromised. A separate IBM study found that over half of employees new to working from home due to the pandemic have not been provided with new guidelines on how to handle customer PII, despite the changing risk models associated with this shift.  

Sponsored by IBM Security and conducted by the Ponemon Institute, the 2020 Cost of a Data Breach Reportis based on in-depth interviews with more than 3,200 security professional in organizations that suffered a data breach over the past year.1Some of the top findings from this year’s report include: 

Smart Tech Slashes Breach Costs in Half: Companies who had fully deployed security automation technologies (which leverage AI, analytics and automated orchestration to identify and respond to security events) experienced less than half the data breach costs compared to those who didn’t have these tools deployed – $2.45 million vs. $6.03 million on average.  

Paying a Premium for Compromised Credentials: In incidents where attackers accessed corporate networks through the use of stolen or compromised credentials, businesses saw nearly $1 million higher data breach costs compared to the global average – reaching $4.77 million per data breach. Exploiting third-party vulnerabilities was the second costliest root cause of malicious breaches ($4.5 million) for this group.    

Mega Breach2Costs Soar by the Millions: Breaches wherein over 50 million records were compromised saw costs jump to $392 million from $388 million the previous year. Breaches where 40 to 50 million records were exposed cost companies $364 million on average, a cost increase of $19 million compared to the 2019 report.  

Nation State Attacks – The Most Damaging Breaches:  Data breaches believed to originate from nation state attacks were the costliest, compared to other threat actors examined in the report. State-sponsored attacks averaged $4.43 million in data breach costs, surpassing both financially motivated cybercriminals and hacktivists. 

“When it comes to businesses’ ability to mitigate the impact of a data breach, we’re beginning to see a clear advantage held by companies that have invested in automated technologies,” said Wendi Whitmore, Vice President, IBM X-Force Threat Intelligence. “At a time when businesses are expanding their digital footprint at an accelerated pace and security industry’s talent shortage persists, teams can be overwhelmed securing more devices, systems and data. Security automation can help resolve this burden, not only enabling a faster breach response but a significantly more cost-efficient one as well.” 

Employee Credentials and Misconfigured Clouds – Attackers’ Entry Point of Choice  

Stolen or compromised credentials and cloud misconfigurations were the most common causes of a malicious breach for companies in the report, representing nearly 40% of malicious incidents. With over 8.5 billion recordsexposed in 2019, and attackers using previously exposed emails and passwords in one out of five breaches studied, businesses should rethink their security strategy via the adoption of a zero-trust approach – reexamining how they authenticate users and the extent of access users are granted. 

Similarly, companies’ struggle with security complexity – a top breach cost factor – is likely contributing to cloud misconfigurations becoming a growing security challenge. The 2020 report revealed that attackers used cloud misconfigurations to breach networks nearly 20% of the time, increasing breach costs by more than half a million dollars to $4.41 million on average – making it the third most expensive initial infection vector examined in the report. 

State Sponsored Attacks Strike Heaviest

Despite representing just 13% of malicious breaches studied, state-sponsored threat actors were the most damaging type of adversary according to the 2020 report, suggesting that financially motivated attacks (53%) don’t translate into higher financial losses for businesses. The highly tactical nature, longevity and stealth maneuvers of state-backed attacks, as well as the high value data targeted, often result in a more extensive compromise of victim environments, increasing breach costs to an average $4.43 million. 

In fact, respondents in the Middle East, a region that historically experiences a higher proportion of state-sponsored attacks compared to other parts of the world3, saw an over 9% yearly rise in their average breach cost, incurring the second highest average breach cost ($6.52 million) amongst the 17 regions studied. Similarly, the energy sector, one of the most frequently targeted industries by nation states, experienced a 14% increase in breach costs year over year, averaging $6.39 million.  

Advanced Security Technologies Prove Smart for Business  

The report highlights the growing divide in breach costs between businesses implementing advanced security technologies and those lagging behind, revealing a cost-saving difference of $3.58 million for companies with fully deployed security automation versus those that have yet to deploy this type of technology. The cost gap has grown by $2 million, from a difference of $1.55 million in 2018. 

Companies in the study with fully deployed security automation also reported significantly shorter response time to breaches, another key factor shown to reduce breach costs in the analysis. The report found that AI, machine learning, analytics and other forms of security automation enabled companies to respond to breaches over 27% faster than companies that have yet to deploy security automation – the latter of which require on average 74 additional days to identify and contain a breach. 

Incident response (IR) preparedness also continues to heavily influence the financial aftermath of a breach. According to the report, companies with neither an IR team nor testing of IR plans experience $5.29 million in average breach costs, whereas companies that have both an IR team and use tabletop exercises or simulations to test IR plans experience $2 million less in breach costs – reaffirming that preparedness and readiness yield a significant ROI in cybersecurity. 

Some additional findings from this year’s report include: 

 

Remote Work Risk Will Have a Cost – With hybrid work models creating less controlled environments, the report found that 70% of companies studied that adopted telework amid the pandemic expect it will exacerbate data breach costs.  

CISOs Faulted for Breaches, Despite Limited Decision-Making Power: Forty-six percent of respondents said the CISO/CSO is ultimately held responsible for the breach, despite only 27% stating the CISO/CSO is the security policy and technology decision-maker. The report found that appointing a CISO was associated with $145,000 cost savings versus the average cost of a breach.  

Majority of Cyber Insured Businesses Use Claims for Third Party Fees: The report found that breaches at studied organizations with cyber insurance cost on average nearly $200,000 less than the global average of $3.86 million. In fact, of these organizations that used their cyber insurance, 51% applied it to cover third-party consulting fees and legal services, while 36% of organizations used it for victim restitution costs. Only 10% used claims to cover the cost of ransomware or extortion. 

Regional & Industry Insights: While the U.S. continued to experience the highest data breach costs in the world, at $8.64 million on average, the report found that Scandinavia experienced the biggest year over year increase in breach costs, observing a nearly 13% rise. Healthcare continued to incur the highest average breach costs at $7.13 million — an over 10% increase compared to the 2019 study.  

 

About the Study 

The annual Cost of a Data Breach Report is based on in-depth analysis of real-world data breaches taking place between August 2019 and April 2020, taking into account hundreds of cost factors including legal, regulatory and technical activities to loss of brand equity, customers, and employee productivity.  

IBM Study: Security Response Planning on the Rise, But Containing Attacks Remains an Issue

Security Study

*Global Survey Finds Use of More Than 50 Security Tools Leads to Less-Effective Security Response

* Majority of Organizations Don’t Have Specific Plans for Common and Emerging Attacks  

IBM Security has announced the results of a global report examining businesses’ effectiveness in preparing for and responding to cyberattacks. While organizations surveyed have slowly improved in their ability to plan for, detect and respond to cyberattacks over the past five years, their ability to contain an attack has declined by 13% during this same period. The global survey conducted by Ponemon Institute and sponsored by IBM Security found that respondents’ security response efforts were hindered by the use of too many security tools, as well as a lack of specific playbooks for common attack types.

While security response planning is slowly improving, the vast majority of organizations surveyed (74%) are still reporting that their plans are either ad-hoc, applied inconsistently, or that they have no plans at all. This lack of planning can impact the cost of security incidents, as companies that have incident response teams and extensively test their incident response plans spend an average of $1.2 million less on data breaches than those who have both of these cost-saving factors in place. IBM Security and Ponemon Institute: 2019 Cost of a Data Breach Report

The key findings of those surveyed from the fifth annual Cyber Resilient Organization Report include:

* Slowly Improving:  More surveyed organizations have adopted formal, enterprise-wide security response plans over the past 5 years of the study; growing from 18% of respondents in 2015, to 26% in this year’s report (a 44% improvement).

* Playbooks Needed: Even amongst those with a formal security response plan, only one third (representing 17% of total respondents) had also developed specific playbooks for common attack types — and plans for emerging attack methods like ransomware lagged even further behind.

* Complexity Hinders Response: The amount of security tools that an organization was using had a negative impact across multiple categories of the threat lifecycle amongst those surveyed. Organizations using 50+ security tools ranked themselves 8% lower in their ability to detect, and 7% lower in their ability to respond to an attack, than those respondents with less tools.

* Better Planning, Less Disruption: Companies with formal security response plans applied across the business were less likely to experience significant disruption as the result of a cyberattack. Over the past two years, only 39% of these companies experienced a disruptive security incident, compared to 62% of those with less formal or consistent plans.

"While more organizations are taking incident response planning seriously, preparing for cyberattacks isn’t a one and done activity," said Wendi Whitmore, Vice President of IBM X-Force Threat Intelligence. "Organizations must also focus on testing, practicing and reassessing their response plans regularly. Leveraging interoperable technologies and automation can also help overcome complexity challenges and speed the time it takes to contain an incident.”

Vikas Arora, VP, IBM Cloud & Cognitive Software & Services, IBM India and South Asia, said, "While Indian organizations have shown improvement in terms of their cyber resiliency by hiring skilled professionals and overall planning, there needs to be a lot more done to manage the dynamic cybersecurity landscape. Organizations need to look at testing their cybersecurity incident response plan regularly and leverage technologies like Automation, Cloud, AI, and interoperable solutions to help sail through any unforeseen situation."

Updating Playbooks for Emerging Threats

The survey found that even amongst organizations with a formal cybersecurity incident response plan (CSIRP), only 33% had playbooks in place for specific types of attacks. Since different breeds of attack require unique response techniques, having pre-defined playbooks provides organizations with consistent and repeatable action plans for the most common attacks they are likely to face.  

Amongst the minority of responding organizations who do have attack-specific playbooks, the most common playbooks are for DDoS attacks (64%) and malware (57%). While these methods have historically been top issues for the enterprise, additional attack methods such as ransomware are on the rise. While ransomware attacks have spiked nearly 70% in recent years, IBM Security, 2020 X-Force Threat Intelligence Index, (2020), p. 15 only 45% of those in the survey using playbooks had designated plans for ransomware attacks.

Additionally, more than half (52%) of those with security response plans said they have never reviewed or have no set time period for reviewing or testing those plans. With business operations changing rapidly due to an increasingly remote workforce, and new attack techniques constantly being introduced, this data suggests that surveyed businesses may be relying on outdated response plans which don’t reflect the current threat and business landscape.

More Tools Led to Worse Response Capabilities

The report also found that complexity is negatively impacting incident response capabilities. Those surveyed estimated their organization was using more than 45 different security tools on average, and that each incident they responded to required coordination across around 19 tools on average. However, the study also found that an over-abundance of tools may actually hinder organizations ability to handle attacks. In the survey, those using more than 50 tools ranked themselves 8% lower in their ability to detect an attack (5.83/10 vs. 6.66/10), and around 7% lower when it comes to responding to an attack (5.95/10 vs. 6.72/10).

These findings suggest that adopting more tools didn’t necessarily improve security response efforts — in fact, it may have done the opposite. The use of open, interoperable platforms as well as automation technologies can help reduce the complexity of responding across disconnected tools. Amongst high-performing organizations in the report, 63% said the use of interoperable tools helped them improve their response to cyberattacks.

Better Planning Pays Off

This year’s report suggests that surveyed organizations who invested in formal planning were more successful in responding to incidents. Amongst respondents with a CSIRP applied consistently across the business, only 39% experienced an incident that resulted in a significant disruption to the organization within the past two years compared to 62% of those who didn’t have a formal plan in place.

Looking at specific reasons that these organizations cited for their ability to respond to attacks, security workforce skills were found to be a top factor. 61% of those surveyed attributed hiring skilled employees as a top reason for becoming more resilient; amongst those who said their resiliency did not improve, 41% cited the lack of skilled employees as the top reason.

Technology was another differentiator that helped organizations in the report become more cyber resilient, especially when it comes to tools that helped them resolve complexity. Looking at organizations with higher levels of cyber resilience, the top two factors cited for improving their level of cyber resilience were visibility into applications and data (57% selecting) and automation tools (55% selecting). Overall, the data suggests that surveyed organizations that were more mature in their response preparedness relied more heavily on technology innovations to become more resilient.

About the Study: Conducted by the Ponemon Institute and sponsored by IBM Security, the 2020 Cyber Resilient Organization Report is the fifth installment covering organizations’ ability to properly prepare for and handle cyberattacks. The survey features insight from more than 3,400 security and IT professionals from around the world, including the United States, India, Germany, United Kingdom, Brazil, Japan, Australia, France, Canada, ASEAN, and the Middle East.

IBM Launches Watson Works to Address the Challenges of Returning to the Workplace

 

IBM has announced Watson Works, a curated set of products that embeds Watson artificial intelligence (AI) models and applications to help companies navigate many aspects of the return-to-workplace challenge following lockdowns put in place to slow the spread of COVID-19.

Returning people to the workplace during the continuing global pandemic demands new approaches to promote the health, safety and productivity of workers in a privacy-preserving way. Watson Works provides data-driven insights to help employers make informed decisions on workplace re-entry, facilities management, space allocation and other COVID-related priorities.

“We’ve designed Watson Works to help businesses navigate the workplace with the ongoing COVID-19 health crisis as effectively as possible,” said Bob Lord, Senior Vice President, Cognitive Applications, Blockchain and Ecosystems, IBM. “Applying AI models and applications is especially useful in this context, where there are so many different sources of information businesses must consider, and every aspect of the situation is in flux.”

Subram Natarajan, Chief Technology Officer, IBM India, said "It cannot be overstated just how disruptive the COVID-19 pandemic has been to businesses worldwide. As most of the global economies and businesses reopen, organizations are facing the complex challenge of returning people to workplaces in a way that prioritizes the health, safety and productivity of employees. Watson Works has been made available to enable companies to leverage AI for reinventing themselves to adapt to the new normal and emerge smarter."

Watson Works is designed to help companies with these elements of returning to the workplace as they respond to COVID-19 related challenges:

* Manage facilities and optimize space allocation by using real-time data provided by the employer including WiFi, cameras, Bluetooth beacons and mobile phones. This data, collected in a way that is designed to preserve employees’ privacy, enables managers to quickly reallocate spaces, designate no-go zones, arrange for cleaning and monitor crowding, social distancing and mask-wearing.

* Prioritize employee health by enabling employers to make evidence-based decisions about when to have employees return to the workplace and when certain offices or worksites should be closed. Facilitate the collection and analysis of real-time data from multiple sources, including local infection rates and trends, voluntarily shared employee symptoms and test results, employee and household health risks, and state and local regulations. Additionally, managers can be swiftly alerted to relevant updates.

* Communicate with employees, vendors and other stakeholders. Through virtual agents and apps that use Watson’s Natural Language Processing capabilities, employees can get answers from employers to COVID-19 and HR questions, self-report symptoms, or learn whether or not they should report to work that day. Employees can also find out what time the employer thinks is the best time to arrive at the office, to avoid overcrowding.

* Maximize the effectiveness of contact tracing by assisting organizations with support for care agents and contact tracers. When employees voluntarily notify their employers of a positive test result and give consent, contact tracers can conduct interviews and use information from multiple sources to help identify individuals who should be notified of potential exposure, document all case-related information in a secured, privacy-preserving system, and trigger employer designed case management workflows to support employees while they recover.

IBM has long been a leader in the responsible stewardship of technology and clients’ most valuable data. Watson Works will conform to the company's high ethical standards, long-established Principles for Trust and Transparency and guidelines for deployment of technologies in response to the COVID-19 emergency.

Watson Works is a curated set of products based on capabilities in IBM Return-to-Workplace Advisor, IBM TRIRIGA, IBM Watson Care Manager and IBM Maximo Worker Insights.

IBM: Security in the Cloud Remains Challenged by Complexity and Shadow IT

IBM Security has released new data examining the top challenges and threats impacting cloud security, indicating that the ease and speed at which new cloud tools can be deployed can also make it harder for security teams to control their usage. According to IBM survey data and case-study analysis, basic security oversight issues, including governance, vulnerabilities, and misconfigurations, remain the top risk factors organizations should address to help secure increasingly cloud-based operations. The case-study analysis of security incidents over the past year also sheds light on how cybercriminals are targeting cloud environments with customized malware, ransomware and more.

With businesses rapidly moving to cloud to accommodate remote workforce demands, understanding the unique security challenges posed by this transition is essential for managing risk. While the cloud enables many critical business and technology capabilities, ad-hoc adoption and management of cloud resources can also create complexity for IT and cybersecurity teams. According to IDC, more than a third of companies purchased 30+ types of cloud services from 16 different vendors in 2019 alone. IDC CloudPulse Summary Q119 This distributed landscape can lead to unclear ownership of security in the cloud, policy “blind spots” and potential for shadow IT to introduce vulnerabilities and misconfiguration.

In order to get a better picture of the new security reality as companies quickly adapt to hybrid, multi-cloud environments, IBM Institute for Business Value (IBV) and IBM X-Force Incident Response and Intelligence Services (IRIS) examined the unique challenges impacting security operations in the cloud, as well as top threats targeting cloud environments. Top findings include:  

·        Complex Ownership: 66% of respondents surveyed IBM Institute for Value Survey of 930 senior business and IT professionals  say they rely on cloud providers for baseline security; yet perception of security ownership by respondents varied greatly across specific cloud platforms and applications.2

·        Cloud Applications Opening the Door: The most common path for cybercriminals to compromise cloud environments was via cloud-based applications, representing 45% of incidents in IBM X-Force IRIS cloud-related case studies. IBM X-Force IRIS: “Cloud Security Landscape Report” In these cases, cybercriminals took advantage of configuration errors as well as vulnerabilities within the applications, which often remained undetected due to employees standing up new cloud apps on their own, outside of approved channels.

·        Amplifying Attacks: While data theft was the top impact of the cloud attacks studied3, hackers also targeted the cloud for cryptomining and ransomware4 – using cloud resources to amplify the effect of these attacks.

“The cloud holds enormous potential for business efficiency and innovation, but also can create a ‘wild west’ of broader and more distributed environments for organizations to manage and secure,” said Abhijit Chakravorty, Cloud Security Competency Leader, IBM Security Services. “When done right, cloud can make security scalable and more adaptable – but first, organizations need to let go of legacy assumptions and pivot to new security approaches designed specifically for this new frontier of technology, leveraging automation wherever possible. This starts with a clear picture of regulatory obligations and compliance mandate, as well as the unique technical and policy-driven security challenges and external threats targeting the cloud.”

Prashant Bhatkal, Security Software Leader, IBM India/South Asia, "While companies have been slowly moving to the cloud for years, the global pandemic has served as a forcing function for businesses to drastically accelerate their cloud adoption. The pandemic has created a premium on agility, which the cloud and associated services can provide. Businesses need the ability to adapt quickly and access tools and systems remotely, making cloud the inevitable solution for the “new normal". While agility is essential, rapid technology shifts lead to new opportunities for cybercriminals. In the case of the cloud, we are moving to a very flexible and dispersed IT landscape that is easy to deploy and scale, but more complex to manage and control. As the rapid move to the cloud has likely exacerbated these challenges, companies must quickly re-evaluate their security policies for the new normal. Customers in India before the pandemic focused around on-prem deployments of critical applications and data. As they started moving to SaaS-based offerings in the last couple of months to allow availability and access to data anywhere, they realized the need to re-imagine their security posture. We are working with clients to help migrate their mission-critical workloads to Cloud by ensuring security is baked in at every level. We are partnering with customers on how they can shift their security approaches to protect increasingly dispersed, hybrid-cloud environments. Cloud today is a key enabler in providing secure environment to applications and data across various platforms.

Who owns Security in the Cloud?

A survey from IBM Institute for Business Value found that responding organizations that relied heavily on cloud providers to own security in the cloud, despite the fact that configuration issues – which are typically users’ responsibility – were most often to blame for data breaches (accounting for more than 85% of all breached records in 2019 for surveyed organizations). IBM X-Force Threat Intelligence Index, 2020

Additionally, perceptions of security ownership in the cloud for surveyed organizations varied widely across various platforms and applications. For example, the majority of respondents (73%) believed public cloud providers were the main party responsible for securing software-as-a-service (SaaS), while only 42% believed providers were primarily responsible for securing cloud infrastructure-as-a-service(IaaS).3

While this type of shared responsibility model is necessary for the hybrid, multi-cloud era, it can also lead to variable security policies and a lack of visibility across cloud environments. Organizations that are able to streamline cloud and security operations can help reduce this risk, through clearly defined policies which apply across their entire IT environment.

Top Threats in the Cloud: Data Theft, Cryptomining and Ransomware

In order to get a better picture of how attackers are targeting cloud environments, X-Force IRIS incident response experts conducted an in-depth analysis of cloud-related cases the team responded to over the past year. IBM X-Force IRIS “Cloud Landscape Report,” based on client incident response cases taking place between June 2018 and March 2020

  The analysis found:

·        Cybercriminals Leading the Charge: Financially motivated cybercriminals were the most commonly observed threat group category targeting cloud environments in IBM X-Force incident response cases, though nation state actors are also a persistent risk.

·        Exploiting Cloud Apps: The most common entry point for attackers was via cloud applications, including tactics such as brute-forcing, exploitation of vulnerabilities and misconfigurations. Vulnerabilities often remained undetected due to “shadow IT,” when an employee goes outside approved channels and stands up a vulnerable cloud app. Managing vulnerabilities in the cloud can be challenging, since vulnerabilities in cloud products remained outside the scope of traditional CVEs until 2020.

·        Ransomware in the Cloud: Ransomware was deployed 3x more than any other type of malware in cloud environments in IBM incident response cases, followed by cryptominers and botnet malware.

·        Data Theft: Outside of malware deployment, data theft was the most common threat activity IBM observed in breached cloud environments over the last year, ranging from personally identifying information (PII) to client-related emails.

·        Exponential Returns: Threat actors used cloud resources to amplify the effect of attacks like cryptomining and DDoS. Additionally, threat groups used the cloud to host their malicious infrastructure and operations, adding scale and an additional layer of obfuscation to remain undetected.

“Based on the trends in our incident response cases, it’s likely that malware cases targeting cloud will continue to expand and evolve as cloud adoption increases,” said Charles DeBeck, IBM X-Force IRIS. “Our team has observed that malware developers have already begun making malware that disables common cloud security products, and designing malware that takes advantage of the scale and agility offered by the cloud.”

Maturing CloudSec Can Lead to Faster Security Response

While the cloud revolution is posing new challenges for security teams, organizations who are able to pivot to a more mature and streamlined governance model for cloud security can help their security agility and response capabilities.  

The survey from IBM Institute for Business Value found that responding organizations who ranked high maturity in both Cloud and Security evolution were able to identify and contain data breaches faster than colleagues who were still in early phases of their cloud adoption journey. In terms of data breach response time, the most mature organizations surveyed were able to identify and contain data breaches twice as fast as the least mature organizations (average threat lifecycle of 125 days vs. 250 days).

As the cloud becomes essential for business operations and an increasingly remote workforce, IBM Security recommends that organizations focus on the following elements to help improve cybersecurity for hybrid, multi-cloud environments:

·        Establish collaborative governance and culture: Adopt a unified strategy that combines cloud and security operations – across application developers, IT Operations and Security. Designate clear policies and responsibilities for existing cloud resources as well as for the acquisition of new cloud resources.

·        Take a risk-based view: Assess the kinds of workload and data you plan to move to the cloud and define appropriate security policies. Start with a risk-based assessment for visibility across your environment and create a roadmap for phasing cloud adoption.

·        Apply strong access management: Leverage access management policies and tools for access to cloud resources, including multifactor authentication, to prevent infiltration using stolen credentials. Restrict privileged accounts and set all user groups to least-required privileges to minimize damage from account compromise (zero trust model).

·        Have the right tools: Ensure tools for security monitoring, visibility and response are effective across all cloud and on-premise resources. Consider shifting to open technologies and standards which allow for greater interoperability between tools.

·        Automate security processes: Implementing effective security automation in your system can help improve your detection and response capabilities, rather than relying on manual reaction to events.

·        Use proactive simulations: Rehearse for various attack scenarios; this can help identify where blind spots may exist, and also address any potential forensic issues that may arise during attack investigation.

To view the X-Force IRIS Cloud Security Landscape Report, download the full report here.

No easy going for IT companies in Europe

For India’s top tech firms seeking to grow revenues from Europe in order to offset lower spend by American clients, it’s going to be Key facts on India's IT industry

a long, arduous journey, said research firm Forrester on Wednesday.

The US, which accounts for over half of India’s $60-billion software outsourcing industry, has traditionally been the top market for Tata Consultancy Services (TCS), Infosys and Wipro, among many others. However, over the past few years, Indian tech firms have been trying to mitigate their high American exposure by focusing on Europe’s $14-billion market for software and back-office services.

“You cannot replicate the US model in other markets. Unlike the US, European customers are not thinking primarily about costs. If Indian companies follow the same model for another 2-3 years, they will struggle,” said Sudin Apte, principal analyst of Forrester Research. Mr Apte, who surveyed around 400 European customers in order to understand their outsourcing priorities, said India’s tech firms will need to go beyond just hiring local workforce for sales and delivery efforts, if they really want to become successful in Europe.

“Offshoring in North America is a standard business decision, however in continental Europe, it’s a religious decision,” said Mr Apte, quoting one of the customers surveyed for his study.

Indeed, for almost a decade, the UK has been the top market for Indian companies with customers such as British Petroleum (BP) and British Telecom (BT) outsourcing projects to TCS, Infosys and Wipro. However, the UK, which outsources around $9 billion worth of projects to India every year, does not reflect the entire Europe.

“The United Kingdom is very similar to the US, unlike continental Europe where language and cultural barriers exist,” added Mr Apte.

Many European customers are more comfortable working with delivery teams in neighbouring countries, instead of signing large offshore contracts. “For example, Romania’s historical ties with Bulgaria, Italy, Greece, and Germany makes it easy to connect with clients in these locations,” Mr Apte added.

However, mature outsourcers such as BT, BP and ABN Amro have had no such bottlenecks, while deciding to work with large Indian offshore services providers such as TCS, Infosys and Wipro.

“For globalised European customers, outsourcing is not a new phenomenon, but for many companies, especially those who are pan-European only, outsourcing and offshoring is not such as hot thing,” he added.

Compared with Forrester’s survey in 2008, the current research shows a drop of more than 20% in the number of companies that were thinking about starting an offshore initiative for the first time. “This means that in the next 12 months, we will see few first-time offshore users sending their work to locations like India,” said Mr Apte.

The Forrester research also found that multinational firms such as IBM and Accenture are better positioned that the Indian IT vendors when it comes to serving customers in continental Europe.

“Accenture has more staff serving continental Europe customers than anybody else - it’s not about pure offshoring anymore,” he said. For instance, Accenture serves more than 300 customers from Germany with a few hundred staffs making use of the managed services model, which allows the company to serve more with less.

Agencies

Retail sector to grow at 28% during 2008-12 in India

During 2008-2012, the IT market in the Indian retail sector is likely to grow at an estimated compound annual growth rate (CAGR) of 23 percent; reaching $1.4 billion by 2012, says a report. According to the report titled as 'IT in the Indian Retail Industry: Emerging Trends and Market Opportunities' brought out by Springboard Research; software is estimated to grow at a CAGR of 28 percent for the period under review, while hardware will grow at 19 percent.

Springboard Research is an IT market research and advisory firm. The firm has brought out this report after interviewing leading IT vendors operating in the retail sector and 152 Chief Information Officers from both large and mid-sized retail companies across India. According to Nilotpal Chakravarti, Senior Research Analyst, Springboard Research, although the recession has affected retailers' profitability, it opens a window of opportunity for IT vendors as retailers turn to technology to address the challenging economic scenario. "Many retailers are eschewing curtailing their long-term IT projects, while they remain cautious with short-term IT spending and new investments," he added.

Nearly half of the CIOs in the retail sector interviewed, indicated large format stores/hypermarkets as the top business opportunity in the sector, while competition is named as the biggest business challenge by a majority of the CIOs. Inventory management has emerged as the top strategic IT focus areas for the CIOs, followed by supply chain management (SCM). Enterprise resource planning (ERP) topped the list of business applications in terms of actual deployments in the last 24 months.

According to Springboard's data, POS (Point of sales) is the top preferred store solution that Indian retailers have deployed in their stores. CIOs revealed that a large number of retailers mentioned price as a key determinant in external IT vendor selection, while strong service and support came in the second place on the list of priorities. Other influencers like vendor reputation and existing relationship rank much lower in the priority hierarchy. Springboard also found that local IT vendors have a sizeable foothold in the retail space because they provide low-cost, industry-specific solutions.

According to Springboard's data, SAP, Microsoft and Oracle hold the largest market share in the Indian retail sector, while HCL is the leading local vendor in the retail space. IBM is also named as among the leading vendors in this space.

"Best-of-class retail solutions like RFID, intelligent shelves, and kiosks still remain out of reach for the Indian market because of their high cost. IT vendors should look to address this gap by rationalizing costs, along with clearly defining ROI benefits for clients," said Chakravarti.

Agencies

Cisco, EMC, VMware join hands to take on IBM, HP

Technology heavyweights Cisco Systems and EMC Corp dampened speculation the two companies would merge as they announced on Tuesday a broad partnership to develop data centre technology, taking on rivals IBM and Hewlett-Packard. The two have spent three years developing technology and ironing out details of a deep partnership through which they will bundle Cisco’s networking equipment and server computers with EMC’s storage and virtualization technology.

Their goal is to become a top provider of data centre products as the industry switches to technology focused on providing socalled “cloud” computing services from central data centres that can be accessed over the internet and corporate networks.

As they announced that partnership, top executives from both companies suggested that persistent speculation Cisco plans to acquire EMC has been unfounded.EMC chief executive Joe Tucci said in an interview that the rumours may have been sparked as investors got wind of the close talks between the two companies that led to the partnership over the past few years.

Cisco CEO John Chambers said in the same interview, that “Our tendencies are to partner together. I think we do that remarkably well.” When specifically asked if he was interested in buying EMC, as investors have long speculated might be the case, Chambers said: “You buy big-tosmall. You partner big-to-big.”

The Wall Street Journal reported that the partnership will sell and provide maintenance and service support for a product called “V-Block,” combining EMC’s storage equipment, Cisco’s virtualized servers and networking gear and VMWare’s virtualization technology.

The partnership, the paper said, will have two components. It will be responsible for marketing and providing maintenance and support for V-Block. But the actual cloud infrastructure will be constructed by a coalition of the three companies.

The publication noted that technology giants had breached new markets, “turning once stalwart allies into competitors”.

The move by Cisco, EMC and VMWare, it said, comes amid a wave of consolidation among companies that provide hardware, software and services to corporate data centres.“Following the actions of IBM and HP to create one-stop IT shops, Dell announced in September it will purchase IT services firm Perot Systems. Software giant Oracle Corp, meanwhile, is awaiting European antitrust approval for its acquisition of Sun Microsystems,” The Journal said.

Agencies

Why is Sun Micro losing $100 mn a month?

Oracle Corp Chief Executive Larry Ellison said Sun Microsystems Inc is losing about $100 million a month as European regulators delay approving his company's $7 billion purchase of the struggling hardware maker.

"The longer this takes, the more money Sun is going to lose," Ellison said on Monday evening during a dinner at one of Silicon Valley's most prominent speaker's forums, the Churchill Club.

Sun's revenue has tumbled since April when Oracle agreed to buy the world's No. 4 computer server maker in April as rivals IBM and Hewlett-Packard Co have poached customers amid uncertainty about its future.

Oracle has pledged to boost investment on development of Sun's products, but the hardware company has cut spending prior to the deal's closing as sales have plunged. Last month it reported a quarterly loss of $147 million.

Ellison, the world's fourth-richest man according to Forbes, said he expects the deal will eventually be cleared by European regulators as it was in the United States, without any conditions.

The European Commission is conducting an in-depth probe into whether the competition would be stifled by the combination of Oracle's database, the world's top seller, and Sun's MySQL database, which is widely used to run popular websites.

Legal experts have said Oracle may need to make concessions, including the divestiture of the MySQL software business, and that it is unclear how long European approval would take.

European regulators have until January 19, the deadline set by the Commission, the competition watchdog of the 27-country European Union. That would put Oracle months behind its original plan for closing the deal by the end of August.

Agencies

IBM, Google, Oracle, Microsoft suggest newspapers ways To generate net revenue

Some of the world’s most prominent technology companies are offering suggestions to publishers on how they can charge readers for news online.

IBM, Microsoft, Oracle and Google — a company some newspapers blame for helping dig their financial hole — responded to a request by the Newspaper Association of America for proposals on ways to easily charge for news on the web.

But building the infrastructure for charging readers is one part of the equation. The other part looks more challenging: getting publishers to make the leap and stop giving news out for free on the web.

Randy Bennett, the senior vicepresident of business development at the newspaper association, said his group initiated the process after a meeting of publishers in May near Chicago. A report that was posted online on Wednesday by the Nieman Journalism Lab at Harvard University includes 11 different responses from technology companies. Google’s proposal may be the most eyebrow raising, if only because the company — which aggregates thousands of articles from media outlets on its news pages — is so closely associated with the freewheeling ethos of an open internet.

Google proposed offering news organizations a version of its Google Checkout system, which is used for processing online payments. It would give readers a place to sign in to an account and then pay for media from a variety of sources without having to punch in their information over and over. And the company says it could offer publishers several pay methods, from basic subscriptions to socalled “micropayments” on a perarticle basis.

Along with the technology heavyweights offering ideas are tiny startups. CircLabs, run by just four people and incubated at the Missouri School of Journalism, is developing a program that would feed news from different sources into a bar across the top of web browsers. Martin Langeveld, the company’s executive vicepresident, said the application will offer both targeted advertising and the option of charging.

Agencies

Will MindTree foray into China shortly?

Mid-sized software services firm MindTree will be making foray into China, having bagged a significant outsourcing contract from China’s biggest telecommunications equipment maker Huawei Technologies.

For the Bangalore-headquartered company, China marks new geography entry, besides already having presence in US and Europe. Confirming the development , Parthasarathy N S, CEO, testing & IMTS, MindTree, said, “We will be doing independent testing in the telecom space. This project has different phases and has potential to become large. The contract also allows us to move up the value chain as China has emerged a big growth market”.

However, he declined to name the customer as he is not allowed to do so. The contract deals with R&D and involves managing and supporting independent testing for Huawei’s different product line, where employees of MindTree will do the work at customer location, a person privy to the development said.

“Four companies were bidding for the contract, including an Indian firm and it was given to MindTree after complete evaluation of capabilities ”, the person said on conditions of anonymity. The company, which counts steel-maker Arcelor Mittal, Swedish truckmaker Volvo and insurer AIG among its top customers, will now be opening a subsidiary in China. Mr Parthasarathy said that they have sent techies from its India centres to China and will also look at option of hiring local talent there.

“China is an important market and we are evaluating to set up a development centre, but nothing will be decided till 12-18 months,” said Parthasarathy.

Economic Times

Infosys set to acquire consulting firm for $200 million

Infosys Technologies Ltd, India’s second-largest provider of computer-services technology, may buy consulting businesses for as much a s $200 million to attract more clients, the finance chief said.

Infosys also may buy similar-sized businesses that process transactions, or information technology companies, Chief Financial Officer V Balakrishnan, 44, said in an interview in New York. The company isn’t in serious discussions with anybody, he said, declining to name potential targets.

“Acquisitions are a lot like love,” he said. “We’re not in love. We haven’t even started dating anybody.”

Infosys, which is projecting it’s first-ever decline in sales this fiscal year, is turning to new services to increase revenue in the worst recession since the 1930s. Building the consulting division will help the Bangalore-based company compete in the US against International Business Machines Corp, the world’s largest computer-services provider.

Infosys will look primarily in the US and Europe for purchases, said Balakrishnan. The company gets almost 90 per cent of its sales from North America and Europe. It aims to more than double domestic revenue to 5 per cent of total sales, he said.

‘Niche’ markets

The company’s American depositary receipts advanced 0.8 per cent to $47.21 in Nasdaq Stock Market trading yesterday. The shares have gained 92 per cent this year. Each ADR is equivalent to one ordinary share.

The company plans to invest in “niche” markets, such as health care, Balakrishnan said. Infosys isn’t interested in so- called captive units, processing divisions within a specific company, he said.

Infosys is in talks with five to six clients to buy their technology units, B G Srinivas, a senior vice president who heads the software provider’s operations in Europe, said in June. The company is in discussions with two customers in the US and three to four in Europe, he said at the time.

Sales will range between $4.45 billion and $4.52 billion in the year ending March 31, Infosys said on July 10, marginally increasing the lower end of its annual forecast for at least a 3.1 per cent revenue decline made in April. Infosys won’t be able to predict fiscal 2011 demand until clients complete their budgets in January, Balakrishnan said.

Infosys and top-ranked Tata Consultancy Services Ltd won orders from BP Plc, Europe’s second largest oil company, the Indian software providers said last month, signaling clients may be resuming spending on computer services. Infosys declined to give financial details while Tata Consultancy said it may receive as much as $100 million a year from the BP contract.

Agencies

Seven-year IT services deal signed by IBM, Qantas

According to a report the outsourcing deal is valued at up to $200 million which could cost up to 178 Qantas workers their jobs

IBM Corp. said that it has signed a seven-year outsourcing contract with Qantas, Australia's largest airline, for the provision of project delivery functions, as part of the airline's improved business efficiency goals.

David Hall, Qantas executive manager of corporate services and technology, said the agreement with IBM will enable a fast transformation, increased efficiencies, and improved customer experience.

"Qantas believes the partnership with IBM will give us access to IBM's scale, strength, expertise, and the latest tools and technologies available in the global marketplace. We are confident that IBM will deliver significant benefits to our business," he said.

Under the contract, Qantas will gain access to IBM's deep research, analytics and business optimization capabilities.

"Qantas' partnership with IBM represents a major step towards the airline's mission to lead and innovate in the competitive airline industry," said Katie Bambrick, IBM Global Business Services Managing Partner for Australia and New Zealand.

"Drawing on IBM's advanced technologies and the airline industry expertise IBM has built over the last half-century, this partnership has an exciting future," said Ms Bambrick.

According to Australian IT the outsourcing deal with IBM is valued at up to $200 million which could cost up to 178 workers their jobs.

Staff at Qantas's project delivery team are set to transfer to IBM as part of the deal. Those who do not accept new employment terms from IBM will be forced to take redundancy, the report said.

Agencies

Mega BP contract bagged by TCS, Infy, Wipro & IBM

India’s top three software exporters TCS, Infosys Technologies and Wipro, along with MNC rival IBM, on Wednesday, announced that they have won new outsourcing contracts from British Petroleum (BP) to be delivered over the next five years.

As reported by ET last month, India’s offshore outsourcing firms, including TCS, Infosys, Wipro and Mahindra Satyam had locked horns with MNC rivals IBM and Accenture over around $1 billion worth of outsourcing contracts to be awarded in August by BP.

While the companies did not disclose the value of new contracts, experts tracking the sector said Indian suppliers are expected to earn revenues in excess of $100 million each over the next few years from BP. “The total application development and maintenance contract value is over $500 million,” a UK-based outsourcing expert told ET on condition of anonymity.

BP, which used to outsource a majority of its application development, system integration and infrastructure management projects to almost 30 suppliers including IBM, Accenture, Mahindra Satyam and Infosys wanted to bring down its IT costs by up to 30% by working with fewer vendors handling more work at lower rates.

“Every business unit at BP was running its IT operations separately, with different set of suppliers. This led to complexity and higher costs of operations. With this consolidation, BP now wants to work with not more than six vendors globally,” a UK-based expert familiar with BP’s sourcing strategy told ET recently. He requested anonymity as he is not authorised to comment about these contracts.

When contacted by ET last week, a BP spokesman confirmed that the supplier review is nearing its end. “Yes, we have been reviewing our strategic IT providers, and are getting close to the end of that process, but I can’t confirm numbers of the current or possible future providers,” Robert Wine, a BP spokesman, had told ET last month.

Economic Times

New tablet may replace keyboard with touch-screen

Apple is shrinking its Mac computer and bringing out a tablet that is small enough to be carried in a handbag but big enough for comfortable web surfing, newspaper reading and watching movies. The computer will revolutionize laptops as we know them because it is one flat touch-screen device without a keyboard.

Speculations have reached a feverish pitch that by 2010, the revolutionary touch-screen gadget will be in a store near you. Blogs are alive with rumours that the tablet’s launch will be announced in September by Steve Jobs, Apple founder and CEO, and launched in time for the Christmas market, reports the Telegraph.

The product is believed to have been in development for the past six years, with Jobs personally involved over the last two. If the speculation is true, it could be the next technological breakthrough for Apple, which has sold more than 200 million iPods since its launch in 2001. The tablet will be billed as the solution for people who work a lot on the move, but don’t want to be burdened with a laptop.

Pundits are predicting that our lives will never be the same. “People expect it to be the ultimate Apple surprise. This thing will knock people’s socks off,”Leander Kahney, a blogger and author of The Cult of Mac, told the Observer.

“Apple will totally rejig the computing experience. You won’t manipulate a keyboard and mouse any more but rather use an intuitive touch-screen. It will very tactile. It will be a whole new paradigm.”

Gene Munster, a technology research analyst, estimated that the tablet, with an onscreen keyboard like the iPhone, would cost around $600, putting it between the high-end iPod Touch at $399 and the Mac-Book, which starts at $999.

Agencies

Will IBM develop future chips with DNA?

Scientists from IBM and California Institute of Technology are trying to build the next generation chips- smaller and more powerful, with the combination of DNA and nanotechnology. The experimental breakthrough can be a step toward developing a new technique for making smaller microprocessors beyond the traditional manufacturing processes.

In the past few years, chipmakers have been able to make tinier and powerful products, but this advancement has also pushed the limits of manufacturing techniques. According to IBM, "The revolutionary method, developed at its Almaden Research Center in California and the California Institute of Technology, can help it to make computer chips from the molecule, by arranging DNA structures on the surface of manufactured semiconductor material." Microchips are mainly used in computers, mobile phones and a broad range of electronic devices and, as chipmakers compete to develop ever-smaller chips at cheaper prices, designers are struggling to cut costs.

Spike Narayan, Research Manager, IBM said, "The biological structures like DNA actually offer some very reproducible, repetitive kinds of patterns that we can actually leverage in semiconductor processes. The combination of this directed self-assembly with today's fabrication technology for high-resolution positioning of nano-objects eventually can lead to substantial savings in the most expensive and challenging part of the chip making process." This combination can also help processor designers to keep pace with Moore's Law - the 40-plus-year-old prediction by Gordon Moore that the number of transistors on a chip will double every two years.

The cost involved in shrinking features to improve performance is a limiting factor in keeping pace with Moore's Law and a concern across the semiconductor industry. Currently, the semiconductor industry is able to make processors using 22 nanometer manufacturing technology. IBM is also looking for the DNA to act as scaffolds or miniature circuit boards for the highly precise assembly of chip components, like nanotubes, nanowires and nanoparticles. After using this technique, manufacturers are likely to build 'significantly smaller' chips than has been possible with current semiconductor fabrication technology.

Agencies

Analytics company SPSS Inc to be acquired by IBM

IBM plans to buy technology services company SPSS Inc for about $1.2 billion in cash, the companies said on Tuesday.

SPSS shareholders will receive $50 a share, a 42% premium to Monday's closing price of $35.09 on Nasdaq.

Chicago-based SPSS provides predictive analytics software and services. Predictive analytics are used by companies to forecast future trends and spot shifts in consumer patterns, helping them control costs and use resources more wisely.

IBM said the deal will help expand its Information on Demand software portfolio and business analytics capabilities.

Shares of SPSS jumped 41 per cent in premarket trade to about $49.50. The shares had already enjoyed a gain of about 30 per cent this year.

The deal values SPSS at about 25 times analysts' estimated 2010 earnings per share, and the $50 per share price represents an all-time high for the stock, topping its previous all-time top of $47.87.

The deal is subject to SPSS shareholder approval and regulatory clearances, and is expected to close later in the second half of 2009, the companies said.

Separately, IBM said it has acquired closely-held Ounce Labs Inc, whose software helps companies reduce the risks and costs associated with security and compliance concerns. Financial terms were not disclosed.

Back in May, IBM's chief financial officer, Mark Loughridge, told the Reuters Technology Summit that the valuations of potential acquisition targets were attractive. IBM has spent $20 billion buying more than 100 companies since 2000, paying prices that range from as little as $50 million to as much as $5 billion.

Agencies

Avail IT education tourism in India from IBM

IBM today announced the launch of an education programme that it said would enable IT professionals and students to come to India and receive IBM certified training here.

To avail of this offer, an individual needs to register for a course from the IBM Power and IBM System Storage Curriculum, the company said in a statement.

All visa formalities, tickets and accommodation requirements are arranged and facilitated by an IBM training partner, it said.

The IT education tourism programme, slated to start next month, is a unique initiative where IBM has partnered with Stratom IT Solutions Pvt. Ltd., India to introduce IT education tourism as a package for global students and IT professionals.

IBM plans to target around 300 participants in India for a minimum of 30 days this year.

As part of the programme,IBM would offer a comprehensive portfolio of technical training and education services for systems designed for individuals, companies and public organisations to acquire, maintain, and optimise their IT skills, the statement added.

Agencies

IBM funds $1 billion for APAC IT Projects

IBM announced up to $3 billion funds to finance IT initiatives in key economic stimulus projects in Europe and Asia-Pacific through IBM Global Financing, the company's lending and leasing business segment.

Specifically, it will make available up to $2 billion in financing in Europe and up to $1 billion in the Asia-Pacific region. IBM Global Financing also will extend its North American coverage to include financing for smart technology projects in Canada, according to a statement.

The stimulus financing will mainly target enterprises and municipalities looking to implement technology projects consisting of a majority portion of IBM hardware, software, and technology services components. Financing also can be applied to non-IBM technology as part of a larger IBM solution.

The financing will help organizations move ahead with IT projects in 2009, while awaiting government funding, to build the technological and environmental infrastructure of the 21st century.

The financing could be in the form of:

* Low rates and flexible financing options

* Deferred payment plans

* Enterprise financing facilities that offer structured lines of credit

* Specialized project financing packages that allow clients to align payment streams to anticipated benefits throughout the project

The recession is going to drive many organizations, public and private, to make transformational changes in their IT environment. However, without access to the correct financing offerings, a significant set of opportunities will be lost and society-wide projects, like smart grid, will be substantially delayed," said David Mitchell, SVP of UK-based IT research firm, Ovum.

It must be recalled here that IBM China Research launched a new industry solution lab in China focusing on the development of healthcare IT solutions and released four software packages that could help hospitals establish electronic patient records at reduced costs, last month. The Chinese government has announced a plan to invest CNY 850 billion over the next three years to provide every village with a medical clinic and at least one hospital for every county by 2011. The plan includes funding for electronic patient records systems that can be shared by different hospitals around the country.

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