Honeywell International announced on Monday that it has reached an agreement to acquire Scadafence, an Israeli company that specializes in operational-technology and Internet-of-Things cybersecurity solutions for monitoring large-scale networks. Honeywell acknowledges the projected growth of the operational-technology cybersecurity industry to over $10 billion in the coming years. As part of Honeywell Forge Cybersecurity+ suite, Scadafence will be integrated, offering enhanced asset discovery, threat detection, and compliance management capabilities. Operational technology, which controls heavy equipment in critical-infrastructure operations like manufacturing and energy companies, has long been a cybersecurity concern. In its annual threat report published in February, industrial cybersecurity company Dragos reported a 35% increase in hacker groups targeting control systems and operational technology in 2022.

Source: Wall Street Journal July 10, 2023 16:55 UTC