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US conglomerate Honeywell (Nasdaq: HON) has introduced that it has agreed to purchase Israeli cybersecurity firm SCADAfence. No monetary particulars had been disclosed however SCADAfence has raised $38 million to this point, in line with Begin-Up Nationwide Central, and is reportedly being bought for tens of tens of millions of {dollars}.
Based mostly in Ramat Gan, SCADAfence offers cybersecurity options for operational expertise (OT) and Web of Issues (IoT) for monitoring large-scale networks and has confirmed capabilities in asset discovery, risk detection and safety governance that are key to industrial and buildings administration cybersecurity applications.
Honeywell Linked Enterprise president and CEO Kevin Dehoff mentioned, “It’s important to guard and keep the integrity of operational techniques like course of management tools in manufacturing services. A easy breach within the OT surroundings has the potential to create security and enterprise continuity danger for organizations of all sizes. OT property are inherently totally different than these within the IT surroundings as they’re area particular. Honeywell has been delivering and putting in these techniques for many years, which is why we launched our cybersecurity enterprise greater than twenty years in the past. Including SCADAfence’s product portfolio will strengthen our capabilities and assist our clients defend themselves in opposition to cyber safety dangers that are progressively rising.”
The SCADAfence product portfolio will combine into the Honeywell Forge Cybersecurity+ suite inside Honeywell Linked Enterprise, Honeywell’s fast-growing software program arm with strategic concentrate on digitalization, sustainability and OT cybersecurity SaaS choices and options. This integration will allow Honeywell to supply an end-to-end enterprise OT cybersecurity resolution to website managers, operations administration and CISOs searching for enterprise safety administration and situational consciousness.
SCADAfence CEO Elad Ben Meir mentioned, “We’re thrilled to affix Honeywell as we work in direction of fulfilling our mission of empowering industrial organizations to function securely, reliably and effectively. This mix creates important alternative for development, permitting us to mix our top-tier OT cybersecurity merchandise with one of many world’s main corporations in industrial software program. With this acquisition, we’re poised to ship among the most superior OT safety expertise to Honeywell’s broad buyer base, bolstering the excellent Honeywell Forge Cybersecurity+ providing. We stay dedicated to proactively serving and supporting our clients throughout all verticals and geographies the place we at present function.”
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SCADAfence will increase Honeywell’s Cybersecurity Heart of Excellence in Tel Aviv. The transaction is predicted to shut within the second half of 2023, topic to customary closing situations, together with receipt of sure regulatory approvals.
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 11, 2023.
© Copyright of Globes Writer Itonut (1983) Ltd., 2023.
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