Telefónica’s new step in the definitive configuration of the Tech division, which groups together the new technology businesses. The company has approved a corporate reorganization, in such a way that Tech’s cybersecurity division will also group the segment of cloud.
Thus, the company Telefónica Cibersecurity Tech has been converted into Telefónica Cibersecurity & Cloud Tech. In addition, the company has expanded its corporate purpose, in such a way that this division will also aim to provide and distribute any technology service in the cloud ( services cloud), virtualized communications, hosting, housing or placement, along with computer systems design, planning and development activities. Initially, the corporate purpose was focused on providing cybersecurity and electronic information security services.
This movement would imply a change with respect to the initially planned structure, which involved creating a subsidiary company for each of the businesses: cybersecurity, cloud Y big data and internet of things (IoT).
Company sources explain that it is a corporate change that is part of the process of carve-out of Telefónica’s digital businesses in Spain and the rest of the markets where it operates, which is still underway, and will be completed in the coming weeks.
A few days ago, the operator announced the reorganization of Telefónica on the Spot, which became Telefónica IOT & Big Data Tech, encompassing the aforementioned businesses of big data and internet of things.
The Tech setup process is practically complete. The intention of the operator is to close the corporate configuration as soon as possible, within its strategy of facilitating the entry of possible investors in the companies of Tech’s businesses. The teleco contemplates the entry, either of industrial partners, or of specialized investment funds . Telefónica has already received signs of interest from investors to enter the capital of these companies.
This route has been used by Telefónica in other divisions of the group, such as Telxius, where KKR and Pontegadea entered, or Alpha, a disruptive innovation subsidiary in which Ancora Finance Group and Wellington Partners have recently entered.
The truth is that the operator wants to give greater scope to the Tech division, which is led by José Cerdán. In the field of cybersecurity, the intention is to create subsidiaries in all the countries in which it has a presence, on both sides of the Atlantic. For the moment, it has already established subsidiaries in Argentina, Chile, Brazil and Peru. In the latter country, the local cybersecurity division was created by Telefónica del Perú last spring, under the name of Cyberco, which was later renamed Telefónica Cybersecurity Perú.
Under the initial plans, Telefónica expected to set up a cybersecurity division with more than 2,500 employees. In Spain alone, it has hired about 600 people from other subsidiaries of the
The Tech set is one of the pillars for the future evolution of the operator’s accounts. Telefónica expects that this technology division will contribute an additional income of 2,000 million euros in 2022. In the first nine months of the year, Tech’s businesses registered revenues of 1,113 million, 15.4% more in year-on-year terms, despite the impact of the Covid.