Embraer has signed a contract for a capital investment in Tempest Security Intelligence, giving it a majority interest in the largest cybersecurity company in Brazil.
Tempest is a provider of business protection services in the digital world. It operates offices in Recife and Sao Paulo, Brazil, and London and serves more than 300 clients in Brazil, Latin America and Europe.
Tempest will continue as an autonomous company and will maintain its brand, leadership and 300 employees, the company said.
Tempest, founded in 2000, is one of the companies receiving an investment from the Aerospace Investment Fund, created by the Brazilian Development Bank (BNDES), the Financier for Studies and Projects (FINEP), Sao Paulo Development Agency and Embraer. The goal is to strengthen the aerospace, aeronautical, defense and security production industries. Embraer has indirectly participated in Tempest since 2016.
“Embraer has always encouraged the development of a national chain for the aeronautical and defense industry in Brazil, and one of our priorities is to focus on the cybersecurity segment,” said Jackson Schneider, Embraer Defense & Security president and CEO.
Embraer’s investment enhances Tempest’s growth and expansion in Brazil and abroad, it said. Brazil has the second-highest rate of cybercrime in the world, second to Russia. As a result, Brazilian companies lose up to $10 billion a year to cybercrime, which includes financial theft and theft of intellectual property and confidential information.
The partnership is a milestone for Tempest, said Cristiano Lincoln Mattos, Tempest CEO and founding partner. “The cybersecurity market is booming around the globe, and we will continue to invest in the evolution of the portfolio, aiming to always stay ahead of the growing digital threats that impact our customers, by being a reference in Brazil and operating internationally.”
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