Telecommunications subscribers under the aegis of National Association of Telecommunications Subscribers (NATCOMS) have called on Nigerian Communications Commission (NCC) to approve a 10 per cent tariff increase for telecom providers.

NATCOMS claimed that the tariff increase will assist to reduce the sector’s escalating operational costs, which has been a long-standing issue.

Adeolu Ogunbanjo, national president of NATCOMS, in a recent statement reiterated the critical necessity for this tariff adjustment.

For the past few months, Nigerian telecom companies have been advocating for an increase in telecom tariffs and canvassing for policies that they feel will benefit them and boost their capacity to invest in networks, according to Itweb.

In August 2024, Nigerian telcos threatened to stop services, and implemented load-shedding schedule due to budgetary constraints.

While the NCC acknowledged the difficult environment, the regulator allegedly believes this is only a ploy to justify a pricing increase.

Nonetheless, Ogunbanjo voiced concern about the worsening quality of telecom services supplied by these companies, claiming that the current economic climate makes it increasingly difficult for them to maintain standards.

“Telecom services have significantly declined in quality, and operators are facing mounting pressures,” Ogunbanjo said.

He noted that, despite increased operational expenditures over the last 11 years, there has been no matching increase in service tariffs.

This lack of adjustment has left telecom businesses in a risky financial situation, necessitating collaboration among stakeholders to find a sustainable solution.

Sophos has entered into a definitive agreement to acquire Secureworks, the renowned developer behind the Taegis™ platform. The all-cash transaction is valued at approximately $859 million.

Sophos to Acquire Secureworks

Sophos’ experience and reputation as a leading provider of managed security services and end-to-end security products, combined with Secureworks’ security operations expertise transformed into the Taegis™ platform, is expected to further deliver complementary advanced MDR and XDR solutions for the benefit of their global customer bases.

Together, they will help strengthen the resilience and security posture of global organizations of any size with a combination of security controls, AI, world-class threat intelligence, and two teams with decades of cybersecurity expertise.

Sophos expects to integrate solutions from both companies into a broader and stronger security portfolio benefiting small, mid- and enterprise customers.

This includes Sophos expanding its current portfolio with other new offerings like identity detection and response (ITDR), next-gen SIEM capabilities, operational technology (OT) security, and enhanced vulnerability risk prioritization.

As two partner-centric organizations, the combination of Sophos and Secureworks will enable the combined company to expand its market presence to create greater value within the channel and strengthen the overall security community.

“Secureworks offers an innovative, market-leading solution with their Taegis XDR platform. Combined with our security solutions and industry leadership in MDR, we will strengthen our collective position in the market and provide better outcomes for organizations of all sizes globally, said Joe Levy, CEO of Sophos.

“Secureworks’ renowned expertise in cybersecurity perfectly aligns with our mission to protect businesses from cybercrime by delivering powerful and intuitive products and services.

“This acquisition represents a significant step forward in our commitment to building a safer digital future for all.”

Cyber risk continues to escalate, driven by a rampant cybercriminal ecosystem and global geopolitical pressures. Combined, Sophos and Secureworks share a long history of having exceptional threat intelligence, security operations, incident response, and innovative security product capabilities that help organizations defeat these adversaries.

“Our mission at Secureworks has always been to secure human progress.

“Sophos’ portfolio of leading endpoint, cloud, and network security solutions – in combination with our XDR-powered managed detection and response – is exactly what organizations are looking for to strengthen their security posture and collectively turn the tide against the adversary,” said Wendy Thomas, CEO, Secureworks.

“As Joe and I both believe, this transaction will strengthen our go-to-market offering with Sophos’ global scale, expertise and reputation.”

Transaction Details

Under the terms of the agreement, Sophos intends to acquire Secureworks in an all-cash transaction valued at $859 million. Secureworks shareholders, including Dell Technologies (NYSE:DELL), will receive $8.50 per share in cash. This represents a 28% premium to the unaffected 90-day volume-weighted average price (VWAP). The transaction is expected to close in early 2025, subject to customary closing conditions. Additional information regarding this announcement can be found in the Form 8-K filed by Secureworks with the United States Securities and Exchange Commission (SEC) on Oct. 21, 2024.

Kirkland & Ellis LLP is acting as legal counsel to Sophos and Goldman Sachs & Co. LLC., Barclays, BofA Securities, HSBC Securities (USA) Inc. and UBS Investment Bank are acting as financial advisors and providing debt financing for the transaction. Piper Sandler & Company and Morgan Stanley & Co. LLC are acting as financial advisors to Secureworks and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

At least 400 young Nigerian women are about to get a digital boost as TD Africa flags off registration for TecHERdemy.

TecHERdemy is a Corporate Social Responsibility (CSR) initiative designed by Sub-Saharan Africa’s leading distributor of tech solutions, TD Africa, to empower young Nigerian women with the requisite skills to thrive in the dynamic digital age.

In collaboration with the Ministry of Women Affairs, TecHERdemy will provide 400 women the opportunity to participate in a comprehensive six-month training program focused on in-demand tech fields like cybersecurity, data science, artificial intelligence (AI), and software development.

The move, which is in tandem with the International Telecommunication Union’s (ITU) annual “Girls in ICT” awareness program, provides a launchpad for fresh graduates, especially serving Corps members, to kickstart their careers in the tech space by helping the young women further understand what a career in tech today really means.

Mrs. Uju Kennedy, Minister of Women Affairs, in a tweet said: “Another great opportunity from the Federal Ministry of Women Affairs for our women in Nigeria to benefit from in collaboration with TD Africa.

This is an opportunity for young women interested in tech skills such as Cybersecurity, Data Science, AI and Software Development. Kindly take hold of this opportunity and apply.”

According to Mrs. Chioma Chimere, Coordinating Managing Director of TD Africa, women need to be aware of what is most important for their future.

Her words: “At TD Africa, we believe that technology is a powerful tool for social and economic progress.

“However, we also recognise the glaring gender gap in the tech industry.

“By investing in the education and empowerment of young Nigerian women, we are nurturing future tech leaders who will contribute to a more equitable and prosperous society.”

Beyond the comprehensive training, TecHERdemy offers participants unique opportunities for growth and career advancement with exposure to global brands like Cisco, Microsoft, and Huawei.

Trainees will have the chance to secure instant job placements or internships after completion of the program through a high-level engagement with the hundreds of corporates within TD Africa’s ecosystem.

This initiative is a testament to TD Africa’s commitment to fostering a more inclusive and equitable tech landscape.

It aims to help bridge the gender gap in the dynamic tech sector and create a brighter future for generations to come.

Interested participants can apply and learn more at https://tdafrica.com/TecHERdemy.