Crossword Cybersecurity inks collaboration agreement with Leonardo MW

Technology commercialisation company Crossword Cybersecurity has signed a memorandum of understanding with high-tech aerospace defence and security company Leonardo MW, it announced on Tuesday.

The AIM-traded firm said the cooperation would enable Leonardo's National Cyber Security Centre certified cyber consultancy to use its ‘Rizikon Assurance’ product to enhance its leading risk assessment and risk management practices for customers throughout the world.

It said Leonardo targeted its cyber security offerings at government, defence and critical national infrastructure, both in the UK and internationally.

Supporting that offering with tooling such as Rizikon Assurance would further improve outcomes for customers, the Crossword board said.

The memorandum stated an intention to collaborate across multiple workstreams, including an agreement to bid for certain significant contracts across multiple industries throughout 2020, using Crossword's third-party risk management solution Rizikon Assurance and Leonardo's expertise in integration, cyber and third-party assurance.

Crossword noted that a recent Ponemon Institute survey found that 56% of data breaches were caused by a third-party vendor, and with the issue gaining both media and regulatory attention, it was “critical” that businesses understood their third-party risk and how to mitigate it.

It said its Rizikon Assurance product and Leonardo's cyber and supply chain assurance capability “perfectly aligned” to address the growing requirement.

The memorandum also explored opportunities to partner to deliver technology commercialisation, focusing on cybersecurity research in UK universities and bringing “cutting edge technology” to market.

“Having Leonardo as a partner will allow us to respond to much larger opportunities for our products like Rizikon Assurance,” said Crossword’s business development director Jake Holloway.

“This is a big step in our development as a business.”