Cybersecurity

Cybersecurity Startup DarkMatter Doubles Revenue to $400 Million

A KATIM smartphone, manufactured by DarkMatter, sits on display on the opening day of the Mobile World Congress (MWC) in Barcelona, Spain, on Monday, Feb. 27, 2017. A theme this year at the industry's annual get-together, which runs through March 2, is the Internet of Things.Photographer: Chris Ratcliffe/Bloomberg

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By Nour Al Ali and Matthew Martin

March 1, 2018 at 5:24 AM UTC

This article is for subscribers only.

DarkMatter, a three year-old United Arab Emirates-based cybersecurity firm, has more than doubled revenue last year to over $400 million.

The firm, which earns about 80 percent of its revenue from U.A.E. government contracts, plans to grow from 650 to 900 employees by the end of the year, Chief Executive Officer Faisal Al Bannai told Bloomberg in an interview.