Honeywell is set to acquire OT (operational technology) and IoT (Internet of Things) cybersecurity solutions provider SCADAfence, to strengthen its cybersecurity software portfolio. The deal enables SCADAfence to integrate into the Honeywell Forge Cybersecurity+ suite providing expanded asset discovery, threat detection, and compliance management capabilities.
This integration will enable Honeywell to provide an end-to-end enterprise OT cybersecurity solution to site managers, operations management and CISOs seeking enterprise security management and situational awareness. The acquisition strengthens existing capabilities in cybersecurity and bolsters Honeywell’s high-growth OT cybersecurity portfolio, helping customers operate more securely and reliably.
“It is essential to protect and maintain the integrity of operational systems like process control equipment in manufacturing facilities. A simple breach in the OT environment has the potential to create safety and business continuity risk for organisations of all sizes. OT assets are inherently different than those in the IT environment as they are domain specific. Honeywell has been delivering and installing these systems for decades, which is why we launched our cybersecurity business more than twenty years ago. Adding SCADAfence’s product portfolio will strengthen our capabilities and help our customers defend themselves against cyber security risks which are progressively increasing,” says Kevin Dehoff, president and chief executive officer, Honeywell Connected Enterprise.
“SCADAfence is an ideal complement to Honeywell’s OT cybersecurity portfolio and, when combined with the Honeywell Forge Cybersecurity+ suite, it enables us to provide an end-to-end solution with applicability to asset, site and enterprise across key Honeywell sectors,” says Dehoff. “By enhancing our cybersecurity portfolio, we are accessing a growth engine and enabling our customers to operate their OT environments more securely and help to avoid disruption and possible catastrophic events.”
“We are thrilled to join Honeywell as we work towards fulfilling our mission of empowering industrial organisations to operate securely, reliably and efficiently. This combination creates significant opportunity for growth, allowing us to combine our top-tier OT cybersecurity products with one of the world’s leading companies in industrial software,” says Elad Ben Meir, chief executive officer, SCADAfence. “With this acquisition, we are poised to deliver some of the most advanced OT security technology to Honeywell’s broad customer base, bolstering the comprehensive Honeywell Forge Cybersecurity+ offering. We remain committed to proactively serving and supporting our customers across all verticals and geographies where we currently operate.”
SCADAfence is headquartered in Tel Aviv, Israel and will expand Honeywell’s Cybersecurity Center of Excellence in Tel Aviv. Honeywell has been implementing OT cybersecurity solutions for more than twenty years, delivering thousands of projects in over 130 countries with more than 500 employees worldwide focused specifically on OT cybersecurity.
The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including receipt of certain regulatory approvals.
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