Embraer has entered into a capital investment contract with Brazil-based cybersecurity company, Tempest Security Intelligence (Tempest), taking a majority interest in the company.
Tempest is the largest cybersecurity company in Brazil, providing digital business protection systems. With offices in Recife, São Paulo, and London, the company serves more than 300 clients in Brazil, Latin America, and Europe.
Tempest is one of the companies which has received an investment from the Aerospace Investment Fund (Fundo de Investimento em Participações Aeroespacial – FIP) created by BNDES, FINEP, São Paulo Development Agency and Embraer, the goal of which is to strengthen the aerospace, aeronautical, defence, and security production chain. Through the Aerospace Fund, Embraer has enjoyed indirect participation in Tempest since 2016.
“Embraer has always encouraged the development of a national chain for the aeronautical and defence industry in Brazil, and one of our priorities is to focus on the cybersecurity segment,” said Jackson Schneider, president and CEO of Embraer Defense & Security.
Embraer believes this investment in cybersecurity will enhance the company’s prospects for growth and expansion, both in Brazil and abroad. According to Tempest, Brazil has the second-highest rate of cybercrime in the world, second only to Russia. As a consequence, Brazilian companies lose up to US$ 10 billion a year to cybercrime, which includes financial theft, as well as that of intellectual property and confidential information, according to the company.
“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,” stated Cristiano Lincoln Mattos, CEO and founding partner of Tempest. “Embraer’s investment will help us expand our mission to new markets.”
Tempest will continue to operate as an autonomous company, maintaining its brand, its team of partners and leaders, headed by Lincoln Mattos, and its more than 300 employees.
The conclusion of the deal depends on the fulfillment of certain standard conditions and necessary approvals.