CHARLOTTE, NC – July 10, 2023 – Honeywell (Nasdaq: HON) right now introduced it has agreed to amass SCADAfence, a number one supplier of operational know-how (OT) and Web of Issues (IoT) cybersecurity options for monitoring large-scale networks. SCADAfence brings confirmed capabilities in asset discovery, menace detection and safety governance that are key to industrial and buildings administration cybersecurity applications.
The OT cybersecurity {industry} is predicted to develop to higher than $10 billion within the subsequent a number of years. Notably within the industrial sector, cyberattacks targeted on OT methods generally is a important supply of unplanned downtime, with estimates that unplanned downtime represents over a trillion {dollars} in misplaced income for the economic and demanding infrastructure sectors.1
“It’s important to guard and preserve the integrity of operational methods like course of management gear in manufacturing services. A easy breach within the OT setting has the potential to create security and enterprise continuity threat for organizations of all sizes. OT belongings are inherently completely different than these within the IT setting as they’re area particular. Honeywell has been delivering and putting in these methods 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,” stated Kevin Dehoff, president and chief government officer, Honeywell Linked Enterprise.
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 offer an end-to-end enterprise OT cybersecurity answer to website managers, operations administration and CISOs looking for enterprise safety administration and situational consciousness. The acquisition strengthens current capabilities in cybersecurity and bolsters Honeywell’s high-growth OT cybersecurity portfolio, serving to clients function extra securely, reliably and effectively.
“SCADAfence is a perfect complement to Honeywell’s OT cybersecurity portfolio and, when mixed with the Honeywell Forge Cybersecurity+ suite, it allows us to offer an end-to-end answer with applicability to asset, website and enterprise throughout key Honeywell sectors,” stated Dehoff. “By enhancing our cybersecurity portfolio, we’re accessing a progress engine and enabling our clients to function their OT environments extra securely and assist to keep away from disruption and doable catastrophic occasions.”
“We’re thrilled to affix Honeywell as we work in the direction of fulfilling our mission of empowering industrial organizations to function securely, reliably and effectively. This mixture creates important alternative for progress, permitting us to mix our top-tier OT cybersecurity merchandise with one of many world’s main corporations in industrial software program,” stated Elad Ben Meir, chief government officer, SCADAfence. “With this acquisition, we’re poised to ship a few of the most superior OT safety know-how 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 the moment function.”
SCADAfence is headquartered in Tel Aviv, Israel and can develop Honeywell’s Cybersecurity Heart of Excellence in Tel Aviv. Honeywell has been implementing OT cybersecurity options for greater than twenty years, delivering 1000’s of initiatives in over 130 nations with greater than 500 staff worldwide targeted particularly on OT cybersecurity.
The transaction is predicted to shut within the second half of 2023, topic to customary closing situations, together with receipt of sure regulatory approvals.
About Honeywell
Honeywell (www.honeywell.com) is a know-how firm that delivers industry-specific options that embrace aerospace services; management applied sciences for buildings and {industry}; and efficiency supplies globally. Our applied sciences assist plane, buildings, manufacturing vegetation, provide chains, and staff change into extra linked to make our world smarter, safer, and extra sustainable. For extra information and data on Honeywell, please go to www.honeywell.com/newsroom.
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