WASHINGTON (Sputnik) — The initiative is intended to help both companies’ customers identify and respond to cybersecurity incidents faster, the release explained.
"The collaboration… establishes a new relationship between the IBM X-Force and Cisco Talos security research teams, who will begin collaborating on threat intelligence research and coordinating on major cybersecurity incidents," the release stated.
One study found that data breaches cost companies $4 million in 2016, and incidents that took longer than 30 days to contain cost $1 million more.
According to the release, the cost of dealing with security breaches has increased 29 percent over the last three years.
