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Telefónica increases the capital of its cybersecurity and cloud subsidiary by 17 million

MADRID, 3 Ago.

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Telefónica increases the capital of its cybersecurity and cloud subsidiary by 17 million

MADRID, 3 Ago. (EUROPA PRESS) -

Telefónica has increased the capital of its subsidiary Telefónica Cibersecurity by 17.1 million euros

After this increase, the firm has a subscribed capital of 32.36 million euros. This operation comes just a few days after increasing the capital of Telefónica Tech by 56 million and it is a common transaction to strengthen the balance sheet of the subsidiaries.

The cybersecurity and cloud branch is the main generator of income for Tech, since until June it has generated 89% of the subsidiary's turnover with 566 million euros.

This area has grown by 73% year-on-year, thanks to its intense commercial activity with the closing of 17,000 contracts, which represents an increase of 70% in contracts.

Likewise, the firm has closed numerous agreements with 'partners' for the development of different solutions, especially in the field of 'multi-cloud'.

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