On 1 July, Embraer announced that it has taken a majority equity stake in Tempest Security Intelligence, the largest cybersecurity company in Brazil.
Tempest styles itself a provider of complete solutions for business protection in the digital world. With offices in Recife, São Paulo, and London, it serves more than 300 clients in Brazil, Latin America, and Europe. Founded in Recife in 2000, it received an investment from the Aerospace Investment Fund (Fundo de Investimento em Participações Aeroespacial - FIP) created by BNDES, FINEP, São Paulo Development Agency (DESENVOLVE SP) 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.
Calling Tempest “[…] a company with great technical expertise and international market presence,” Jackson Schneider, President and CEO of Embraer Defense & Security, commented “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.”
In addition to demonstrating the importance of cybersecurity for high-tech industry and the defence sector, Embraer's investment means enhancing Tempest’s perspectives for growth and expansion, in Brazil and abroad. Brazil a rate of cybercrime that runs 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.
“This partnership is a milestone for Tempest […] 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.”
Enhanced by Embraer's investment, Tempest will continue as an autonomous company, maintaining its brand, its team of partners and leaders, headed by Lincoln Mattos, its more than 300 employees, and its operational agility. Conclusion of the deal depends on the fulfilment of certain standard conditions and approvals required for this type of transaction.