Global technology company NEC is investing A$4.38 million to establish a Global Security Intelligence Centre (GSIC) in South Australia to meet growing global demand for cyber security.

Spending on information security in Australia alone is forecast by research advisory firm Gartner to reach almost A$3.2 billion in 2016, an increase of eight percent over 2015.

Cyber security is a rapidly growing sector, and is attracting increasing attention and investment. Governments and businesses alike need innovative products and services to protect them from increasingly sophisticated threats to privacy and security.

The centre will create 50 new high-value jobs in South Australia over the next five years, making the state a more attractive destination for ICT skills that are in high demand by organisations operating in South Australia, and newer entrants that have established themselves in the state.

NEC Australia Chief Operating Officer Mike Barber said the GSIC was a major global investment in a growth sector.

“South Australia is providing NEC with a great base to bring new technologies into Australia. Adelaide is a recognised hub for new technologies and we’ve worked with a lot of local partners with great intellectual property delivering innovative technical solutions” Mr Barber said.