Honeywell acquires SCADAfence to strengthen its network security software product portfolio



Jul 17, 2023

Introduction: SCADAfence will be integrated into the Honeywell Forge Cybersecurity+suite, providing extended asset discovery, threat detection, and compliance management capabilities. Expanded Honeywell’s OT network security product portfolio to establish its comprehensive professional services, hosted security services, and software solutions.

On July 10th, Honeywell announced its agreement to acquire SCADAfence. SCADAfence is a leading provider of operational technology (OT) and Internet of Things (IoT) network security solutions for monitoring large-scale networks. SCADAfence has proven functionality in asset discovery, threat detection, and security governance, which is key to industrial and building management network security plans.

It is expected that the OT cybersecurity industry will grow to over $1 billion in the coming years. Especially in the industrial sector, network attacks targeting OT systems may be an important source of unplanned downtime, with an estimated revenue loss of over one trillion US dollars to industrial and critical infrastructure sectors.

Kevin Dehoff, President and CEO of Honeywell Internet Enterprise, said: Protecting and maintaining the integrity of operating systems such as process control equipment in manufacturing facilities is crucial. Simple violations in OT environments can pose security and business continuity risks to organizations of all sizes. OT assets are fundamentally different from assets in IT environments because they are domain specific. Honeywell has been delivering and installing these systems for decades, which is why we launched the cybersecurity industry more than 20 years ago The reason for the matter. Adding SCADAfence’s product portfolio will enhance our capabilities and help our customers mitigate increasing cybersecurity risks, “said Kevin Dehoff, President and CEO of Honeywell Internet Enterprise.The SCADAfence product portfolio will be integrated into the Honeywell Forge Cybersecurity+suite within Honeywell Connected Enterprise, Honeywell’s rapidly growing software department with a strategic focus on digitization, sustainability, and OT network security SaaS products and solutions. This integration will enable Honeywell to provide end-to-end enterprise OT network security solutions for site managers, operations managers, and chief information security officers seeking enterprise security management and situational awareness. This acquisition enhances existing network security capabilities and enhances Honeywell’s high growth OT network security product portfolio, helping customers operate more securely, reliably, and efficiently.

SCADAfence CEO Elad Ben Meir said, “We are pleased to join Honeywell because we are committed to fulfilling our mission of enabling industrial organizations to operate safely, reliably, and efficiently. This merger creates enormous growth opportunities, allowing us to combine our top OT cybersecurity products with one of the world’s leading industrial software companies, Through this acquisition, we are prepared to provide Honeywell’s extensive customer base with some of the most advanced OT security technologies to support Honeywell’s comprehensive Forge Cybersecurity+products. We remain committed to actively serving and supporting customers in all vertical industries and regions we currently operate.

SCADAfence is headquartered in Tel Aviv, Israel and will expand Honeywell’s Cybersecurity Excellence Center in Tel Aviv. Honeywell has been implementing OT network security solutions for over 130 years, delivering thousands of projects in over 500 countries/regions, dedicated to OT network security.

The transaction is expected to be completed in the second half of 2023, but it must meet customary transaction conditions, including obtaining approval from certain regulatory authorities.

HONEYWELL 0570 Series I/O Module

Leave a Reply

Your email address will not be published. Required fields are marked *