Ransom demands by cybercriminals In India doubled in 2016: Sophos' CEO

India reportedly ranks as fourth most affected country by ransomware in a global list and the amount of ransomware demanded from the hackers has doubled in 2016, said Kris Hagerman, CEO, Sophos. "Hence organizations want security companies to innovate with advanced offerings to stop ransomware and other new threats. That’s exactly what channel partners and customers expect us ahead of massive cybercrime business, “ he said.

The predominant endpoint security vendor placed a big bet on the network security space three years ago when it acquired UTM vendors Astaro and Cyberoam in quick succession in 2013 and 2014 respectively.

With the acquisition of Cyberoam, Sophos is now ramping up its India operations further. “The investment by Sophos three years back through acquisition of Cyberoam was a long term strategic plan. And today the outcome has been good for our business in India and globally,” said Hagerman in an exclusive interaction with IDG India.

He said Sophos continued to invest in the region and India is its single largest location from an employee perspective. “We have more people in India than in any other country. Today close to twenty five percent of our workforce is based out of India," he said.

Also Read: Sophos to Buy Cyberoam for Rs 430 Crore: Report

"India is a strategic investment for us. Unlike many vendor companies that pick one or two functions or just have headquarter here, we are investing in India literally across the entire company. We have and are continuously investing across all functions including back office, support, development, sales, marketing, IT, HR with a significant presence in India,” he added.

Sophos India is headquartered out of Ahmedabad and backed by a large R&D team. The sales and technical teams across major Indian cities is a growing testament of our growth story, he said.

The recent demonetization initiative by the Indian government to make the country cashless is an interesting experiment which will have more digital information and added wallet transaction across the internet, observed Hagerman.

“As India becomes digital, more mobile device devices means more digital data will be accessed and shared by users. And cybercriminals out there would have more targets to attack, ”he cautioned.

Sophos recently announced an exciting new offering to fight ransomware called Intercept x which is a next gen end point solution. “It fights ransomware at the very core of the exploit level. It has a very innovative way to solve the most substantial problem," he said.

Also Read: Sophos rolls out Intercept X for endpoint protection

Sophos has emerged as a holistic security vendor (end point and network security) over the past couple of years as per him.

"Intercept X remains one of the most successful products we have introduced in the security industry. And the uptake in Indian market to fight the growing ransomware has been good too,"he concluded.

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