SCADAfence will be integrated into Honeywell’s Forge Cybersecurity+ suite, providing expanded asset discovery, threat detection, and compliance management capabilities. Expanded Honeywell’s OT cybersecurity portfolio to build its comprehensive portfolio of professional services, managed security services, and software solutions.

On July 10, Honeywell announced that it had agreed to acquire SCADAfence. SCADAfence is a leading provider of operational technology (OT) and Internet of Things (IoT) cybersecurity solutions for monitoring large-scale networks. SCADAfence has proven capabilities in asset discovery, threat detection, and security governance, which are key to industrial and building management cybersecurity programs.

The OT cybersecurity industry is expected to grow to more than $1 billion in the coming years. In the industrial sector in particular, cyber attacks against OT systems can be a significant source of unplanned downtime, which is estimated to cost the industrial and critical infrastructure sectors more than $1 trillion in lost revenue.

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“Protecting and maintaining the integrity of operating systems such as process control equipment in manufacturing facilities is critical,” said Kevin Dehoff, president and CEO of Honeywell Connected Enterprise. Simple breaches in an OT environment have the potential to create security and business continuity risks for organizations of all sizes. OT assets are inherently different from assets in an IT environment because they are domain-specific. Honeywell has been delivering and installing these systems for decades, which is why we launched our cybersecurity business more than two decades ago. Adding SCADAfence to our portfolio will enhance our capabilities and help our customers defend against increasing cybersecurity risks, “said Kevin Dehoff, president and CEO of Honeywell Connected Enterprise.

The SCADAfence portfolio will be integrated into the Honeywell Forge Cybersecurity+ suite within Honeywell Connected Enterprise, Honeywell’s fast-growing software division with a strategic focus on digital, Sustainability and OT cybersecurity SaaS products and solutions. The integration will enable Honeywell to offer end-to-end enterprise OT cybersecurity solutions to site managers, operations management and chief information security officers seeking enterprise security management and situational awareness. The acquisition enhances existing cybersecurity capabilities and enhances Honeywell’s high-growth OT cybersecurity portfolio to help customers operate more safely, reliably and efficiently.

Elad Ben Meir, CEO of SCADAfence, said: “We are excited to join Honeywell as we are committed to our mission of enabling industrial organizations to operate safely, reliably and efficiently. This combination creates tremendous growth opportunities and allows us to combine our top OT cybersecurity offerings with one of the world’s leading industrial software companies, “With this acquisition, we are poised to offer some of the most advanced OT security technologies to Honeywell’s broad customer base. This supports Honeywell’s comprehensive Forge Cybersecurity+ offering. We remain committed to actively serving and supporting our customers in all verticals and geographies in which we currently operate.

SCADAfence is headquartered in Tel Aviv, Israel, and will expand Honeywell’s Cyber Security Center of Excellence in Tel Aviv. Honeywell has implemented OT cybersecurity solutions for more than 130 years, delivering thousands of projects in more than 500 countries dedicated exclusively to OT cybersecurity.

The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including receipt of certain regulatory approvals.