Financial terms of the SCADAfence acquisition were not disclosed, and the transaction is expected to close in the second half of 2023, Honeywell said in a prepared statement.
This is technology M&A deal number 194 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
Honeywell, founded in 1906, is based in Charlotte, North Carolina. The company has 125,754 employees listed on LinkedIn. Honeywell's areas of expertise include appliances and electronics manufacturing.
SCADAfence, founded in 2014, is based in Tel Aviv, Israel. The company has 60 employees listed on LinkedIn. SCADAfence's areas of expertise include OT and IoT security.
Honeywell Bolsters Its Cybersecurity Software Portfolio
SCADAfence adds asset discovery, threat detection and security governance capabilities to Honeywell's cybersecurity software portfolio, the companies said. It allows Honeywell to use these capabilities to help its customers develop and launch industrial and buildings management cybersecurity programs. SCADAfence also expands Honeywell's Cybersecurity Center of Excellence in Tel Aviv.
Kevin Dehoff, CEO of Honeywell Connected Enterprise, explained how SCADAfence enhances his company's Forge Cybersecurity+ suite:
"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. 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."
Elad Ben Meir, SCADAfence's CEO, commented on the transaction and what it means for Honeywell's customers:
"With this acquisition, we are poised to deliver some of the most advanced OT security technology to Honeywell's broad customer base."
Honeywell Releases Operational Technology Security Solution
The SCADAfence acquisition comes after Honeywell in May 2023 launched its Forge Cybersecurity+ | Cyber Insights solution for industrial control systems (ICS) and operations.
Organizations can use Cyber Insights to defend against OT cyber threats, Honeywell indicated. Cyber Insights lets organizations use information from multiple OT data sources to learn about cybersecurity vulnerabilities and threats. As a result, Cyber Insights helps organizations manage their compliance strategy and protect against OT cyber risks.
Honeywell offers cybersecurity products designed to help organizations identify, address and analyze OT threats, the company stated. It manages a partner network and allows MSSPs, MSPs and other technology providers to incorporate its OT cybersecurity into their portfolios.