SCADAfence Team (Company pic)
SCADAfence, an Israeli startup providing OT & IoT cyber security, has been acquired by American aerospace and high-tech conglomerate Honeywell. While the terms of the deal were not disclosed, some estimate that it could be worth tens of millions of Dollars.
It was just a few months ago that SCADAfence raised $16 million with investments from Fujitsu, Mitsubishi Electric and Prosegur corporations. The company raised about $40 million in total investment.
SCADAfence will integrate into the Honeywell Forge Cybersecurity+ suite providing expanded asset discovery, threat detection, and compliance management capabilities.
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Honeywell is a technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally.
Founded in 2014, SCADAfence offers OT & IoT cybersecurity. SCADAfence with a full suite of industrial cybersecurity products that provide full coverage of large-scale networks, offering best-in-class network monitoring, asset discovery, governance, remote access, and IoT device security. A Gartner “Cool Vendor” in 2020, SCADAfence delivers proactive security and visibility to some of the world’s most complex OT networks, including the largest manufacturing facility in Europe. SCADAfence says that it enables organizations in critical infrastructure, manufacturing, and building management industries to operate securely, reliably, and efficiently.
If you ever watched a show like 24, then you know that a terrorist attack done by way of hacking into a public utility’s systems is one of the scariest threats to public safety. Imagine someone getting control over a power plant, or many power plants, and shutting down a whole region’s power supply. Now imagine it happening to an entire country or continent.
Now think about your local water supply. Imagine someone disrupting the flow of drinking water or contaminating the supply. Or imagine someone doing any of these things for money made through extortion. This is where SCADAfence comes in.
“We are thrilled to join Honeywell as we work towards fulfilling our mission of empowering industrial organizations 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,” said Elad Ben Meir, CEO of 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.”
