Honeywell Boosts Cybersecurity Software Portfolio with SCADAfence Acquisition

Honeywell to Acquire SCADAfence: Strengthening Industrial Cybersecurity

Introduction

Charlotte, NC (July 10, 2023) – Honeywell, a leading industrial software company, has announced its acquisition of SCADAfence, a prominent provider of operational technology (OT) and Internet of Things (IoT) cybersecurity solutions. This strategic move by Honeywell aims to enhance its capabilities in safeguarding large-scale networks, particularly in the industrial sector. With the OT cybersecurity industry projected to exceed $10 billion in the coming years, the acquisition signifies Honeywell‘s commitment to addressing the growing cybersecurity risks faced by organizations globally.

The Importance of OT Cybersecurity

Unplanned downtime resulting from cyberattacks on OT systems can have a profound impact on industrial and critical infrastructure sectors, with estimated losses amounting to over a trillion dollars in revenue. Safeguarding operational systems like process control equipment in manufacturing facilities is crucial in maintaining safety and business continuity. Unlike IT assets, OT assets are domain-specific and require specialized measures for protection.

Honeywell, a renowned provider of OT systems deployed globally for decades, recognizes the significance of cybersecurity. The company established its cybersecurity business over 20 years ago, acknowledging the evolving risks associated with OT environments. By integrating SCADAfence‘s product portfolio into Honeywell Forge Cybersecurity+, the company’s fast-growing software arm, Honeywell aims to offer an end-to-end enterprise OT cybersecurity solution. This integration will empower site managers, operations management, and chief information security officers (CISOs) with comprehensive security management and situational awareness.

The Benefits of the Acquisition

The acquisition of SCADAfence serves as an ideal complement to Honeywell‘s existing OT cybersecurity portfolio and strengthens its position in the market. By combining SCADAfence‘s top-tier OT cybersecurity products with Honeywell Forge Cybersecurity+, Honeywell aims to provide customers in key sectors with a comprehensive solution applicable to assets, sites, and enterprises. This acquisition aligns with Honeywell‘s strategic focus on digitalization, sustainability, and OT cybersecurity software-as-a-service (SaaS) offerings.

Elad Ben Meir, SCADAfence‘s CEO, expressed enthusiasm about joining forces with Honeywell. The collaboration will enable the delivery of advanced OT security technology to Honeywell‘s extensive customer base, further enhancing the comprehensive Honeywell Forge Cybersecurity+ offering. SCADAfence is committed to supporting and serving customers across various verticals and geographies where it currently operates.

In addition to expanding Honeywell‘s presence in the cybersecurity landscape, the acquisition of SCADAfence will strengthen its Cybersecurity Center of Excellence in Tel Aviv, Israel. Honeywell‘s extensive experience, spanning over two decades and encompassing thousands of projects in more than 130 countries, has positioned the company as a leader in OT cybersecurity.

Conclusion and Recommendations

The acquisition of SCADAfence by Honeywell highlights the ever-increasing significance of cybersecurity in the industrial sector. As critical infrastructure becomes more interconnected and reliant on IoT devices, organizations must prioritize OT cybersecurity to mitigate risks effectively.

For businesses operating in industrial sectors, it is paramount to invest in comprehensive OT cybersecurity solutions. Collaborating with established companies like Honeywell and leveraging their expertise can enhance an organization’s resilience against cyber threats. Emphasizing the implementation of proactive security measures, such as asset discovery, threat detection, and security governance, can significantly reduce the potential for breaches that could lead to safety risks and disruptive events.

Furthermore, organizations should continually assess and update their cybersecurity strategies to keep pace with evolving threats. Regular audits of infrastructure and systems, employee training initiatives, and robust incident response plans are crucial in maintaining readiness against potential attacks.

In an era where cyberattacks on critical infrastructure are increasingly common, fostering strong partnerships among government entities, private organizations, and cybersecurity firms becomes indispensable. Collaboration can lead to the development of standardized frameworks, information sharing initiatives, and coordinated responses, all of which contribute to a more secure ecosystem.

By recognizing the importance of OT cybersecurity and actively implementing comprehensive strategies, organizations can protect themselves from potential disruptions and contribute to a safer digital world.