Honeywell has signed a definitive agreement to purchase Nextnine, a privately held provider of security management solutions and technologies for industrial cyber security. The transaction is likely to augment Honeywell’s cyber security portfolio and increase Honeywell’s Connected Plant cyber security customer base.
Founded in 1998, Nextnine has been backed to date by Infinity VC, XT Hi-Tech and several other prominent investors. Nextnine’s flagship technology, ICS Shield, protects industrial sites from cyber security attacks and enables remote monitoring of assets. It complements Honeywell’s extensive cyber security portfolio with a solution that is used at more than 6,200 sites globally across the oil and gas, utility, chemical, mining and manufacturing sectors. Previously, ICS Shield had to be deployed separately for each control system vendor, resulting in multiple and separate installations at a single customer site. With this acquisition, customers will be able to deploy and operate a single system, thereby simplifying and better securing their entire site with Honeywell’s proven capability to provide multi-vendor solutions.
“Each day, the number of attempted cyber attacks on industrial facilities and critical infrastructure around the world increases,” said Vimal Kapur, president of Honeywell Process Solutions. “This acquisition shows our ongoing commitment to providing our customers with a comprehensive portfolio of cyber security solutions to protect and defend their industrial control systems and process control networks. Honeywell’s extensive global reach will increase Nextnine’s availability to a broader range of customers.”
Nextnine’s security solutions also will be a key enabler of Honeywell Connected Plant, which combines Honeywell’s unmatched industrial expertise, software and digital technologies to make its customers’ operations more reliable, profitable and secure than ever before possible. Cyber security is a critical part of that program.
Honeywell reportedly has the largest industrial cyber security research capabilities in the industry and has continued to increase its industrial cyber security offerings. Two such solutions are Risk Manager, the industry’s first solution to proactively monitor, measure and manage industrial cyber security risks, and Secure Media Exchange (SMX), which protects plants against threats from removable media such as USB flash drives.