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.

The Nigerian government and Ericsson have agreed to work together to unlock the potential of 5G connectivity.

A new memorandum of understanding (MoU) was signed during a Nigerian delegation’s October 18 visit to Ericsson’s headquarters in Sweden, led by vice president Kashim Shettima.

The MoU aims to build a framework for collaboration between the Nigeria and Ericsson in the areas of 5G technology development, deployment, and innovation.

According to Ericsson, the partnership will focus on helping Nigeria’s digital transformation goals, such as economic growth and strengthening public services, using advanced, secure, and trusted 5G technology.

Other partnership objectives include technology sector knowledge exchange and capacity building, supporting the establishment of innovation hubs and tech incubators in Nigeria, and enhancing digital literacy and skills development.

The delegation was hosted at Ericsson’s Imagine Live Studio by Patrick Johansson, head of Ericsson Middle East and Africa.

The two-hour visit included a demonstration tour of Ericsson 5G technologies as well as discussions and presentations spanning Ericsson’s history in Africa and Nigeria; technology evolution, spectrum and standardization; and cyber network and security.

The MoU was signed by Nigeria’s communications, innovation and digital economy minister, Dr Bosun Tijani and Johansson as well as Peter Olusoji Ogundele, head of Ericsson Nigeria.

Johansson says: “We look forward to working in close partnership with the Nigerian government to develop the innovation potential of 5G for Nigerian businesses, citizens and for national digital competitiveness.”

Ericsson has been present in Nigeria since 1978 supporting customer network deployments, including launching the country’s first GSM network in 2001.

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.