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Sumitomo 'WhatsApp of email' deal ups Japan's cybersecurity game

Conglomerate and US startup PreVeil see huge market for end-to-end encryption

High-profile hacking incidents, including the Sony email leak, are expected to drive demand for cybersecurity services in Japan.   © Reuters

BOSTON, U.S. -- Sumitomo Corp. is looking to cash in on Japan's growing cybersecurity concerns with a roughly $7 million investment in U.S. software encryption startup PreVeil.

The investment was made through Sumitomo's investment arm Presidio Ventures and will help the Boston-based startup make its first foray into Japan, which is looking to boost its cybersecurity ahead of next year's Olympic Games.

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