Sabanci Group, an industrial and financial conglomerate, has acquired Israeli OT (operational technology) cybersecurity startup Radiflow. The lead involves initial payments of $45 million, the the overall purchase price was not disclosed. Sabanci expects to own 100% of Radiflow by 2025, the buyer said.
This is technology M&A deal number 426 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
With the Radiflow acquisition, Sabanci plans to create a digital business pillar focused on advanced analytics, Internet of Things (IoT) and cybersecurity, the buyer indicated.
Also, Sabanci will help Radiflow improve its OT security offering, Radiflow CEO Ilan Barca stated. In doing so, Radiflow will be able to provide OT security insights to organizations in oil and gas, transportation and other industrial sectors.
Radiflow previously was backed by various venture capital firms. ST Engineering Ventures led an $18 million Series B investment round in 2018.
A Closer Look at Radiflow
Radiflow provides a "full lifecycle of advanced OT security technology," according to the seller. It offers products that organizations can use to monitor, identify and respond to OT security threats.
Organizations can leverage the following Radiflow products:
- CIARA Industrial Risk Assessment and Management Platform: Lets organizations evaluate their risk assessment methods and find ways to get the most value out of their OT security investments.
- Solution Suite for Threat Detection and Monitoring: Helps organizations track network changes and identify OT security threats in their early stages.
- Secure Gateways: Enables organizations to enforce identity and access policies and ensure their employees can securely access virtual private networks (VPNs).
Radiflow offers a partner program that lets MSSPs and MSPs integrate its OT products into their portfolios. Some of Radiflow's partners include incident detection and response services provider CyberProof and electrical engineering firm Yanai Engineering.
