CybersecurityManTech wades into private cybersecurity market
In an increasing trend, more traditional defense contractors are seeking to expand their businesses by entering the burgeoning field of cybersecurity for commercial companies; after disposing of its private sector cybersecurity business in 2002, ManTech International is seeking to enter the market once more
In an increasing trend, more traditional defense contractors are seeking to expand their businesses by entering the burgeoning field of cybersecurity for commercial companies.
After disposing of its private sector cybersecurity business in 2002, ManTech International is seeking to enter the market once more.
Using their experience working with government agencies and the military to protect their cyber assets, ManTech believes they can adapt their technology to help banks, utilities, and other private sector entities secure their networks.
George J. Pedersen, the chairman and CEO of ManTech, said that he believes there is a potential market for assisting the financial industry as well as critical infrastructure operators like the oil and gas industries with their cybersecurity needs.
With defense spending starting to slow, more and more companies are following suit and seeking to diversify their revenue streams. For instance, Booz Allen Hamilton, another major government contractor, has also begun offering its cybersecurity services to both government and private sector clients.
William J. Wansley, a senior vice president at Booz Allen, said that often times the company’s work with the government offers it obvious expertise and experience to work with certain sectors of the economy. As an example, Wansley cites Booz Allen’s work with federal regulatory agencies which make banks an obvious fit as well as the company’s work with the Department of Health and Human Services which can be applied to health care firms.
“Those alignments work pretty well for us,” said Wansley, who is in charge of the company’s private sector business. Commercial firms “do value our government experience, and frankly they’re looking for some new ideas.”
Shawn P. McCarthy, research director at IDC Government Insights, agreed with Wansley’s statements stating, that a “contractor that has [built] highly secure systems for the government is very much in a good position to work with [commercial] industries.”
