Honeywell announced that it has signed a definitive agreement to purchase Nextnine, a privately held provider of security management solutions and technologies for industrial cyber security. The addition of Nextnine’s security solutions and secure remote service capabilities will enhance the company’s existing range of cyber security technologies and increase Honeywell’s Connected Plant cyber security customer base.
Nextnine’s flagship technology, ICS Shield, protects industrial sites from cyber security attacks and enables remote monitoring of assets. It complements Honeywell’s 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 capability to provide multi-vendor solutions.
Nextnine’s security solutions also will be a key enabler of Honeywell Connected Plant, which combines Honeywell’s industrial expertise, software, and digital technologies that strive to make its customers’ operations more reliable, profitable, and secure than ever before possible. Cyber security is a critical part of that program.
Founded in 1998, Nextnine has been backed by Infinity VC, XT Hi-Tech, and several other prominent investors.
Honeywell has one of 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 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.
Larry O’Brien, ARC Advisory Group, commented, “"In ARC's view this is a well-timed acquisition and further shows Honeywell's transformation to a software and services-based, IIoT-focused company. The demand for secure remote access in the process industries, building automation, and smart cities is expected to increase significantly as end users increasingly adopt both remote operations and remote services. Nextnine has long been a leader in this space. "
Keywords: Industrial Cyber Security, Remote Service Capabilities, Security Management, ARC Advisory Group.