HONEYWELL INTERNATIONAL INC acquired Nextnine Ltd., a transaction completed in August 2017, structured as Purchase of a privately held company; financial terms not disclosed.
Nextnine Ltd. operates in Performance Materials and Technologies (Honeywell Process Solutions), is based in Israel. Nextnine, founded in 1998, was a privately held provider of security-management software for industrial cyber security. Its flagship product, ICS Shield, protects industrial sites from cyber attacks and enables secure remote monitoring of assets, and was in use at more than 6,200 sites worldwide across oil and gas, utilities, chemicals, mining and manufacturing. Honeywell acquired the company to expand its industrial cyber security portfolio and Connected Plant customer base.
Expands Honeywell's industrial cyber security portfolio and Connected Plant customer base, letting customers consolidate multiple vendor-specific ICS Shield installations into a single multi-vendor system and strengthening secure remote-service capabilities for industrial control systems.
Each day, the number of attempted cyber attacks on industrial facilities and critical infrastructure around the world increases. 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.Vimal Kapur, President of Honeywell Process Solutions
Advisory firms were not disclosed for this transaction.