Panasonic and McAfee Agree to Jointly Start Building Vehicle SOC for Commercialization of Vehicle Security Monitoring Services

Rhea-AI Summary

McAfee Corp. (Nasdaq: MCFE) has partnered with Panasonic Corporation to establish a Vehicle Security Operation Center (Vehicle SOC). This initiative aims to provide comprehensive monitoring services to protect connected vehicles from cyber threats globally. With the rise of digitalization and autonomous driving, the need for robust cybersecurity measures in the automotive sector has become critical. Both companies will leverage their expertise to build SOCs that enhance detection and response to potential attacks, contributing to a safer mobility environment.

Positive

• Joint venture with Panasonic enhances vehicle cybersecurity capabilities.
• Focus on increased global demand for vehicle security monitoring services.

Negative

• None.

Panasonic Corporation and McAfee Corp. (Nasdaq: MCFE), have agreed to jointly start building a Vehicle Security Operation Center (hereinafter, Vehicle SOC) to commercialize vehicle security monitoring services. To protect connected vehicles around the world against cyber-attacks, the companies will build vehicle SOCs that enable accurate detection and early response to attacks and help strengthen Cybersecurity measures in the automotive industry.

McAfee and Panasonic rendering of vehicle security monitoring services (Photo: Business Wire)

Panasonic has already been operating SOCs for factories since 2016 to protect systems and networks that manage and control factory equipment and production processes against cyber-attacks – prior to SOC for automobiles. For automobiles, they have developed a Automotive Intrusion Detection System that mounts on a vehicle, detects the occurrence of a cyber-attack and the type of attack, and transmits analysis data to the vehicle SOC and a Security Information and Event Management System that analyzes and visualizes a large amount of data received from the Automotive Intrusion Detection System in the vehicle SOC. McAfee supports world-class SOCs and Managed Security Services (MSSs), and has the know-how cultivated by building and operationally supporting numerous SOCs. The Company will bring these together and start building vehicle SOCs to monitor cyber-attacks that may be conducted against vehicles around the world.

With the innovative development of autonomous driving, the advancement of digitalization, and the increasing number of connected cars, the risk of cyber-attacks against automobiles is increasing every year. It has become urgent for the automotive industry to establish mechanisms to protect and monitor vehicles from cyber-attacks. The Vehicle Security Operation Center will enable the provision of monitoring services to monitor connected cars around the world and contribute to the development of a safe and secure mobility society.

About Panasonic
Panasonic Corporation is a global leader developing innovative technologies and solutions for wide-ranging applications in the consumer electronics, housing, automotive, and B2B sectors. The company, which celebrated its 100^th anniversary in 2018, operates 528 subsidiaries and 72 associated companies worldwide and reported consolidated net sales of 7.49 trillion yen for the year ended March 31, 2020. Committed to pursuing new value through collaborative innovation, the company uses its technologies to create a better life and a better world for customers. Learn more about Panasonic: https://www.panasonic.com/global

About McAfee
McAfee is the device-to-cloud cybersecurity company. Inspired by the power of working together, McAfee creates consumer and business solutions that make the world a safer place. https://www.mcafee.com/enterprise/en-us/home.html

McAfee® and the McAfee logo are trademarks of McAfee, Corp. or its subsidiaries in the United States and other countries. Other marks and brands may be claimed as the property of others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210329005701/en/

FAQ

What is the joint venture between McAfee and Panasonic about?

McAfee and Panasonic are collaborating to create a Vehicle Security Operation Center to provide cybersecurity monitoring for connected vehicles.

What services will the Vehicle Security Operation Center provide?

The Vehicle SOC will offer monitoring services to detect and respond to cyber-attacks on connected cars worldwide.

Why is vehicle cybersecurity becoming more critical?

With the rise of connected cars and autonomous driving, the risk of cyber-attacks in the automotive industry is increasing significantly.

What expertise does McAfee bring to the partnership with Panasonic?

McAfee contributes its experience in building and operating world-class Security Operation Centers and Managed Security Services.

When was the announcement made regarding the Vehicle Security Operation Center?

The partnership and plans for the Vehicle SOC were announced in a press release dated March 29, 2021.