IBM Secures $26 Million USAID Contract to Bolster Cybersecurity in Europe and Eurasia

IBM Wins Contract to Strengthen USAID Cybersecurity Response in Europe and Eurasia - IBM (NYSE:IBM)

Five-year contract with $26 million in initial funding focuses on developing effective cybersecurity systems, procedures, and technology solutions WASHINGTON, July 17, 2024 /PRNewswire/ -- IBM IBM today announced that it has secured a five-year contract with $26 million in initial funding from the U.S. Agency for International Development (USAID) to support its Cybersecurity Protection and Response (CPR) program aimed to expand and enhance the agency's cybersecurity response support for host governments in the Europe and Eurasia (E&E) region. IBM's multidisciplinary team will provide the continuous assistance needed to help USAID strengthen the ability of host government agencies and critical infrastructure operators to identify, protect, detect, respond to, and recover from cyberattacks. The rapid development and adoption of technology globally holds the promise of a new, empowered, and digitally enabled society. However, technologies and services built on infrastructures with security risks can make it almost impossible for governments and critical infrastructure operators to combat cyber threats. By providing cybersecurity-related program management, incident response, capacity building and other services, IBM will help advance USAID's mission to build a secured, interoperable, and resilient digital ecosystem in the E&E region. "USAID is working toward a future where digital technology promotes inclusive growth, fosters resilient and democratic societies, and empowers everyone, including those most vulnerable and marginalized," said Ambassador Erin E. McKee, Assistant Administrator, Europe and Eurasia Bureau for USAID. "Working with IBM and leveraging the company's global experience and leadership in cybersecurity services, we are one step closer to meeting our strategic goals of improving development and humanitarian assistance outcomes through the use of digital technology and strengthening open, secure, and inclusive digital ecosystems." IBM operates one of the world's broadest security research, development, and delivery organizations, monitoring 150 billion+ security events per day in more than 130 countries. "For USAID host countries to benefit from IT modernization efforts, they must incorporate cyber threat mitigation and capacity-building into their program design and implementation," said Alice Fakir, Partner, Lead of Cybersecurity Services, U.S. Federal Market for IBM Consulting. "Cybersecurity is officially a global development challenge, and IBM is proud to partner with USAID by supporting the integration of cybersecurity across a host country's civilian IT infrastructure." About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Media contact Banks Willis [email protected] SOURCE IBM Market News and Data brought to you by Benzinga APIs

IBM secures $26 million USAID cybersecurity contract By Investing.com

WASHINGTON - IBM (NYSE: NYSE:IBM) has been awarded a five-year contract with an initial funding of $26 million by the U.S. Agency for International Development (USAID) to bolster its Cybersecurity Protection and Response (CPR) program. The contract focuses on enhancing cybersecurity response for host governments in Europe and Eurasia (E&E) region, aiming to improve their resilience against cyber threats. The initiative is part of USAID's broader effort to promote inclusive growth and democratic societies through secure and robust digital ecosystems. The contract with IBM will see the company's multidisciplinary team offering continuous assistance to strengthen the capabilities of government agencies and operators of critical infrastructure. This support includes services in cybersecurity-related program management, incident response, capacity building, and other areas to help combat the increasing threat of cyberattacks. Ambassador Erin E. McKee, Assistant Administrator for the Europe and Eurasia Bureau at USAID, emphasized the importance of digital technology in fostering inclusive growth and empowering vulnerable populations. She expressed confidence that IBM's global experience in cybersecurity services would be instrumental in advancing USAID's mission. Alice Fakir, Partner and Lead of Cybersecurity Services for the U.S. Federal Market at IBM Consulting, highlighted the necessity of integrating cyber threat mitigation and capacity-building into IT modernization efforts for the benefit of USAID host countries. IBM brings to the table its extensive security research and delivery capabilities, monitoring over 150 billion security events daily across more than 130 countries. The company is known for its global hybrid cloud and AI solutions, offering consulting expertise to clients worldwide. IBM's offerings are relied upon by thousands of government and corporate entities in critical sectors, including financial services, telecommunications, and healthcare. These services are designed to help clients leverage data insights, streamline processes, and secure competitive advantages efficiently and securely. The information for this article is based on a press release statement from IBM. In other recent news, IBM has seen a slew of analyst activity, with Bernstein SocGen Group and Evercore ISI maintaining Market Perform and Outperform ratings respectively. The firms anticipate a modest Q2 revenue upside for IBM, with contributions from Red Hat and the consulting segment. They expect IBM to maintain its 2024 revenue and free cash flow guidance. In addition, Goldman Sachs (NYSE:GS) initiated coverage on IBM with a Buy rating, emphasizing the company's focus on infrastructure software assets related to open-source and artificial intelligence. BofA Securities also maintained a Buy rating, highlighting IBM's potential in General AI, which could benefit both its consulting and software segments. These recent developments reflect IBM's strategic focus on AI and hybrid cloud services, and the potential for Red Hat to reaccelerate its performance. Analysts project IBM's revenue and EPS to grow steadily, with revenue increasing from $60,532 million in 2024 to $65,517 million in 2025, and EPS from $9.13 in 2024 to $10.34 in 2025. Amid IBM's recent contract win with the U.S. Agency for International Development, the company's financial metrics suggest a robust business outlook. With a market capitalization of $170.69 billion and a steady revenue growth of 2.45% over the last twelve months as of Q1 2024, IBM continues to demonstrate its capacity to secure significant government contracts and expand its operations. Its gross profit margin stands strong at 55.63%, underscoring the company's efficiency in maintaining profitability amidst its diverse offerings in cybersecurity, cloud, and AI solutions. InvestingPro Tips highlight IBM's consistent performance, including its track record of raising its dividend for 28 consecutive years, which signals a reliable return to investors. Furthermore, the company's status as a prominent player in the IT Services industry is cemented by its extensive security research and operational capabilities across the globe. For those looking to delve deeper into IBM's investment potential, there are 7 additional InvestingPro Tips available, which can be accessed by visiting https://www.investing.com/pro/IBM. These tips provide further insights into IBM's stock performance and financial health, including its Price / Book multiple and analysts' profitability predictions for the year. Investors keen on exploring these insights can benefit from an exclusive offer by using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. This offer is designed to equip investors with the comprehensive data and analysis needed to make informed decisions in a dynamic market landscape.

IBM Wins Contract to Strengthen USAID Cybersecurity Response in Europe and Eurasia

Five-year contract with $26 million in initial funding focuses on developing effective cybersecurity systems, procedures, and technology solutions WASHINGTON, July 17, 2024 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it has secured a five-year contract with $26 million in initial funding from the U.S. Agency for International Development (USAID) to support its Cybersecurity Protection and Response (CPR) program aimed to expand and enhance the agency's cybersecurity response support for host governments in the Europe and Eurasia (E&E) region. IBM's multidisciplinary team will provide the continuous assistance needed to help USAID strengthen the ability of host government agencies and critical infrastructure operators to identify, protect, detect, respond to, and recover from cyberattacks. The rapid development and adoption of technology globally holds the promise of a new, empowered, and digitally enabled society. However, technologies and services built on infrastructures with security risks can make it almost impossible for governments and critical infrastructure operators to combat cyber threats. By providing cybersecurity-related program management, incident response, capacity building and other services, IBM will help advance USAID's mission to build a secured, interoperable, and resilient digital ecosystem in the E&E region. "USAID is working toward a future where digital technology promotes inclusive growth, fosters resilient and democratic societies, and empowers everyone, including those most vulnerable and marginalized," said Ambassador Erin E. McKee, Assistant Administrator, Europe and Eurasia Bureau for USAID. "Working with IBM and leveraging the company's global experience and leadership in cybersecurity services, we are one step closer to meeting our strategic goals of improving development and humanitarian assistance outcomes through the use of digital technology and strengthening open, secure, and inclusive digital ecosystems." IBM operates one of the world's broadest security research, development, and delivery organizations, monitoring 150 billion+ security events per day in more than 130 countries. "For USAID host countries to benefit from IT modernization efforts, they must incorporate cyber threat mitigation and capacity-building into their program design and implementation," said Alice Fakir, Partner, Lead of Cybersecurity Services, U.S. Federal Market for IBM Consulting. "Cybersecurity is officially a global development challenge, and IBM is proud to partner with USAID by supporting the integration of cybersecurity across a host country's civilian IT infrastructure." About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Media contact Banks Willis [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/ibm-wins-contract-to-strengthen-usaid-cybersecurity-response-in-europe-and-eurasia-302198792.html

What's Going On With IBM Shares On Wednesday? - IBM (NYSE:IBM)

IBM to manage cybersecurity program, incident response, and capacity building for USAID host countries' IT modernization efforts. International Business Machines Corporation IBM disclosed securing a five-year contract with $26 million in initial funding from the U.S. Agency for International Development (USAID). The contract will support the Cybersecurity Protection and Response (CPR) program, enhancing cybersecurity for host governments in Europe and Eurasia. Alice Fakir, Partner, Lead of Cybersecurity Services, U.S. Federal Market for IBM Consulting, stated, "For USAID host countries to benefit from IT modernization efforts, they must incorporate cyber threat mitigation and capacity-building into their program design and implementation." IBM's team will provide the continuous service needed to help USAID strengthen the ability of host government agencies and critical infrastructure operators to identify, protect, detect, respond to, and recover from cyberattacks. Ambassador Erin E. McKee, Assistant Administrator, Europe and Eurasia Bureau for USAID, said, "Working with IBM and leveraging the company's global experience and leadership in cybersecurity services, we are one step closer to meeting our strategic goals of improving development and humanitarian assistance outcomes through the use of digital technology and strengthening open, secure, and inclusive digital ecosystems." This week, HashiCorp Inc. HCP disclosed that its stockholders have preliminarily voted to approve its acquisition by IBM at the Special Meeting of Stockholders. According to a regulatory filing, on July 12, HashiCorp and IBM each received an FTC request for additional information and documentary material in connection with the merger review. According to Benzinga Pro, IBM stock has gained 39% in last 12 months. Investors can gain exposure to the stock via FT Vest Technology Dividend Target Income ETF TDVI and FT Vest DJIA Dogs 10 Target Income ETF DOGG. Also Read: What To Expect From IBM's Q2 Earnings? BofA Forecasts No Change In Annual Outlook Price Action: IBM shares are up 0.52% at $186.77 at the last check Wednesday. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image Credit: Shutterstock Market News and Data brought to you by Benzinga APIs