Govt to invest in cyber security technology

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The Government is putting $4.4 million into advanced cyber security technology research by an Auckland firm.

Research, Science and Technology Minister Wayne Mapp said today the firm, Endace Ltd, was emerging as a leader in cyber security research and was an example of the type of company that would drive economic growth.

The money is coming from the TechNZ fund and will cover 50 percent of the cost of a series of product developments over the next two years.

"Endace spends more than 20 percent of its revenue on research and development and the TechNZ investment will accelerate this, allowing the creation of more top research and development jobs in New Zealand," Dr Mapp said.

"Cyber security is of increasing importance to organisations whose networks carry sensitive commercial and government intelligence."

Endace employs 98 staff in New Zealand and has offices in the UK and the US.

- NZPA