Honeywell has announced it has agreed to acquire SCADAfence, a leading provider of operational technology (OT) and Internet of Things (IoT) cybersecurity solutions for monitoring large-scale networks.
SCADAfence brings proven capabilities in asset discovery, threat detection and security governance which are key to industrial and buildings management cybersecurity programs.
The OT cybersecurity industry is expected to grow to greater than $10 billion in the next several years. Particularly in the industrial sector, cyberattacks focused on OT systems can be a significant source of unplanned downtime, with estimates that unplanned downtime represents over a trillion dollars in lost revenue for the industrial and critical infrastructure sectors.
“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,” said Kevin Dehoff, president and chief executive officer, Honeywell Connected Enterprise.
“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.”
SCADAfence product portfolio
The SCADAfence product portfolio will integrate into the Honeywell Forge Cybersecurity+ suite within Honeywell Connected Enterprise, Honeywell’s fast-growing software arm with strategic focus on digitalization, sustainability and OT cybersecurity SaaS offerings and solutions.
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, reliably and efficiently.
“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,” said 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.”
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