TELUS (TU) & Check Point Launch Cloud Security Service in Canada
TELUS Corporation TU partnered with Check Point Software Technologies CHKP to introduce the TELUS Cloud Security Posture Management (CSPM) service in Canada. TELUS CSPM will leverage Check Point's AI-driven threat prevention and advanced posture management technology to offer an advanced managed solution for Canadian organizations.
TELUS CSPM will enable business owners to monitor their cloud security posture in real-time, detect and address vulnerabilities as well as generate detailed reports.
Rapid cloud adoption has become an attractive target for cybercriminals who constantly develop sophisticated methods to infiltrate company systems. A survey conducted by TELUS revealed that an average Canadian organization’s cloud environment is experiencing more frequent cyberattacks each month. Additionally, one in 10 organizations is subjected to daily attacks, added the survey.
TELUS Corporation Price and Consensus
TELUS Corporation price-consensus-chart | TELUS Corporation Quote
Organizations are embracing cloud applications due to their scalability and cost-efficiency features coupled with the transition to digital-first workplaces after the pandemic. The CSPM equips these organizations with the necessary tools and expertise to safeguard their data and systems.
The CSPM also automates identifying and remediating threats, ensuring organizations can operate efficiently in the cloud. Furthermore, it generates comprehensive security posture reports that assist in managing and maintaining regulatory compliance standards like PCI DSS HIPAA, CIS benchmarks, and NIST CSF/800-53. The TELUS CSPM service is currently available to customers in Canada.
Per a report from Fortune Business Insights, the global cyber security market size is projected to grow from $172.3 billion in 2023 to $424.9 billion in 2030, registering a CAGR of 13.8%. The industry is likely to benefit from rising cyber-attack amid rapid ongoing digitalization, added the report.
TELUS is one of the largest telecom carriers in Canada (the largest in western Canada), covering 95% of the country’s population. TU provides wireless, wireline, and Internet communications services for voice and data to businesses and consumers.
In May, the company announced investing C$11.5 billion over the next five years to provide high-speed Internet across Quebec. Telus' 5G network will be available to Quebec residents, providing an ultrafast and dependable wireless connection. This investment is part of the company’s commitment to invest $81 billion across Canada by 2027.
At present, TELUS carries a Zacks Rank #3 (Hold). The stock has lost 14.8% compared with the sub-industry’s decline of 10% in the past year.
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Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of the company have jumped 27.9% in the past year.
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