Hyderabad, 2nd March 2023 CyberArk (NASDAQ: CYBR), the global leader in Identity Security, today announced further expansion of its worldwide research and development (R&D) resources with the opening of a new facility in Hyderabad. This location is CyberArk’s largest concentration of R&D resources outside of Israel and will be a key contributor to further accelerating the development and delivery of solutions focused on protecting organizations from cyberattacks that target identities and their access to high-value resources. Identity Security has emerged as a foundational component of Zero Trust strategies and is critical to supporting cyber-resilient enterprises.
“The opening of the R&D centre in India aligns with CyberArk’s vision to deliver the world’s most advanced Identity Security platform,” said Peretz Regev, chief product officer at CyberArk. “With attackers adopting more sophisticated methods, securing identities has become a crucial component of cybersecurity. Our new facility in Hyderabad supports our commitment to providing innovative identity-centric cybersecurity solutions for organizations globally.”
Shri KT Rama Rao, Hon’ble Minister, MAUD, I&C and IT; Government of Telangana; said, “I keep talking wherever I go about large American companies having their Center outside of USA in Hyderabad, for the first time we have an Israeli company, come out of Israel and set up a large center in Hyderabad. All of us in this room are heavily reliant on Technology and Communication, where the devices keep talking to each other, the day is not far, in your phones where your refrigerator is going to talk to your washing machine, which will talk to the Doctor in between and music player, will direct your wearable device, which will direct your car and you will be getting into your car, the car will drive itself and take you, might sound like a science fiction movie, but it’s not far, the reality is very close than what you would like to believe. So, when you are completely reliant on technology, data, machines, basically regarding your life, what happens is data becomes that much more valuable, security becomes that much more important, that’s where I think Cybersecurity’s importance needs to be thought of by the governments, institutions, private entities. It becomes that much more relevant and contextual. Cyber threats as was pointed out by experts, this mindless and meaningless war by Russia on Ukraine is one thing, the age where physical wars continuing to happen is passe. I think the real wars will actually happen in Cyber worlds, where your country’s infrastructure will be attacked and where nations will try and score over each other, institutions will try and score over each other in the cyberworld. A few years ago, I met with Ajay Banga, who has now been anointed as President of World Bank, but he was CEO of the Mastercard, he was telling me, on a good day Mastercard severs get attacked by hackers at least a fifty thousand times, on a bad day it can be ten or twenty times of that. So, you can imagine the kind of threat, the insecure world that we live in when it comes to ensuring digital safety. Therefore, as a Government in Telangana, we understood the importance of this subject of Cybersecurity, and we were the first state in the country to have come out with an exclusive cybersecurity policy. We also take immense pride in saying that Telangana now has more than two hundred and thirty plus technology companies across wide spectrum of domains, who all have their cybersecurity teams running from Hyderabad. Telangana government believes in partnerships and is associated with the Cyber security council of India and set up a Cyber security center of excellence in Hyderabad in 2018 to create a safe, secure and a trusted cyber space and to catalyze innovation, entrepreneurship and capability building in cyber security. We have been working with them on national and international collaborations to boost cybersecurity ecosystem. The Cyber security center of excellence conducts several programs including research, hackathons, capability developments and policy on cyber security and privacy. I request both Ruth and Peretz to connect us to the best minds in Israel to ensure Cyberabad becomes the cyber security capital of India. In fact, that would be our ambition to solve all the challenges faced by India and by extension solve the world’s problem and our youngsters here are very smart, most of them can provide solutions that can scale for the world. I request you to work with the Telangana Academy for Skill and Knowledge, TASK, to ensure we can provide a program. Today I am delighted that CyberArk new office has been inaugurated, I am thrilled also to see the growth of cyber security industry in the state and establishment of companies like CyberArk, I welcome them. I also would urge them to start looking at more Indianized solutions. I think each country has its own set of challenges, while Cybersecurity globally is a universal sort of phenomenon, each country, each region will have its own local set of challenges, so we need to also start understanding that state of the art solutions to protect against advanced cyber threats, prevent data breaches, they also vary from state to state, country to country, region to region, where we start looking for localized solutions. CyberArk expertise in protecting privileged accounts in data is critical in today’s data landscape and I believe that their solutions will play a significant role in ensuring the safety and security of businesses across the state of Telangana and across India as well. I would also like to commend CyberArk for their contribution to the local economy, their expansion of course will create new jobs and opportunities for the local community and their presence in Hyderabad will help us to establish the city as the hub for cyber security expertise.
In addition to product management and R&D teams, the facility also houses the company’s Centre of Excellence for Marketing, as well as functions such as professional services and technical support. There are currently about 200 employees at the facility, with plans to gradually increase headcount.
“The decision to locate our new facility in Hyderabad was strategic,” said Rohan Vaidya, regional sales director, India at CyberArk. “India is a growing market for CyberArk and, on a macro level, one of the fastest-developing economies in the world, with a vast pool of skilled resources. Our new facility in Hyderabad will allow us to further improve our response to and support for our customers and partners in India. It’s an investment for our global customer base and also part of our increased commitment to the market in India.”