By Adria Calatayud

 

BT Group PLC said Wednesday that it has made a multimillion-pound investment in Safe Security, a Silicon Valley cybersecurity startup.

The U.K. telecommunications group said it will be granted rights to use and sell the Palo Alto-headquartered startup's SAFE platform to businesses and public-sector bodies in the U.K. The platform helps organizations to evaluate their cybersecurity risks, BT said.

The two companies will also collaborate to develop future products, BT said.

BT Security Managing Director Kevin Brown told CNBC that the U.K. company is leading a $33 million funding round in Safe Security.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

July 21, 2021 06:42 ET (10:42 GMT)

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