Lockheed Martin and EMC Israel announced on 27 January that they would launch a new technology incubator organisation to help develop cyber security products in association with Israel's Ben Gurion University.
According to Israeli newspaper Haaretz , the companies will work together to identify Israeli cyber security start-ups specialising in a range of areas including cloud computing, big data analytics, and other cyber security products from academia, industry, and government. The companies will help to develop new systems and technologies into commercial products.
The technology incubator will be located at EMC's research and development facility in Beersheba.
Lockheed Martin reported its fourth quarter and fiscal year 2013 results on 23 January, with the Information Systems and Global Solutions (IS&GS) business' operating profit dropping USD49 million, or 6%, year-on-year, and sales dipping 5% to USD479 million in 2013 due to decreased volume on some programmes and the completion of others.