October 30, 2023
Rockwell Automation has signed an agreement to acquire Verve Industrial Protection, an industrial cybersecurity software company, in a bid to expand its cybersecurity offerings.
Under the terms of the deal, Rockwell will gain Verve’s Security Center platform which includes an asset inventory system and vulnerability management solution, designed to provide “IT-level security” to OT assets.
The acquisition follows Rockwell’s recent report into industrial cybersecurity, which found operational technology (OT) and industrial control systems (ICS) attacks are on the rise, with 60% of incidents examined resulting in operational disruption.
“As companies continually add hardware and software alongside legacy equipment in plants, many organizations struggle to manage and protect these assets across an expanded attack surface, increasing the potential for cyberattacks,” Rockwell said in a statement. “Meanwhile, the industry is plagued with significant resource and talent shortages needed to implement and manage OT cybersecurity programs.”
“The foundation of OT cybersecurity starts with visibility into assets – you can’t protect what you don’t know you have,” said Matt Fordenwalt, Rockwell’s senior vice president. “With the Verve acquisition, our customers can quickly assess their assets, prioritize risk, and apply countermeasures to mitigate vulnerabilities – all within a single platform.
“The addition of Verve to our suite of solutions allows customers to further build resiliency and continuously improve the security, safety, and availability of their operations.”
The deal is expected to close in the first quarter of Rockwell’s fiscal year 2024.
The news is the latest in a series of acquisitions from Rockwell as it looks to expand its portfolio of industrial automation services.
The company completed its acquisition of autonomous robotics developer Clearpath Robotics in early October, with the deal said to help complete its portfolio of connected manufacturing solutions.
About the Author(s)
You May Also Like