In today’s technological environment of artificial intelligence (AI), IOT, and machine-to-machine learning, the cyber threats and security vulnerabilities to operational devices and its users are increasing every minute.
With an aim to find breakthrough solutions in cyber-risk management for industrial and operational environments, Dutch cybersecurity scaleup SecurityMatters, which has made some notable achievements in the industry and has a foreseeable future has been acquired by an Israeli cybersecurity company Forescout Technologies for an amount of $113 million recently.
“ForeScout + SecurityMatters brings two leading solutions together to deliver the industry’s first, and only, end-to-end agentless device visibility and control platform that can scale to support millions of devices across the most complex environments,” said Michael DeCesare, CEO and President, ForeScout Technologies, Inc in a company press release.
“Virtually every company with OT needs to rethink its cybersecurity strategy. After partnering with ForeScout for the last year, it became clear that we shared the same vision. Now as a single company, we will be able to accelerate our momentum and create the industry’s first capability to segment IT and OTenvironments truly,” added Damiano Bolzoni, founder and CEO, SecurityMatters.
SecurityMatters: EIT Digital Scaleup
The Eindhoven-based company claims that this acquisition will reinforce its agentless device visibility, control and expand its capabilities.
Supported by leading accelerator in Europe, the EIT Digital Accelerator, SecurityMatters was founded in 2009 by Damiano Bolzoni, Emmanuele Zambon and Sandro Etalle.
€4.4 million funding in 2016
Previously, it has raised a funding of €4.4 million ($5 million) from Emerald Technology Ventures, KPN Ventures, Robert Bosch Venture Capital and Phoenix Contact Innovation Ventures in 2016 so far.
SecurityMatters: How does it work?
SecurityMatters provides a solution that traces cyber-attacks and looks after security and monitoring of critical information systems at organisations. The scale-up claims their software is better at tracking cyber-threats than other tracking devices due to its self-configuring and self-learning structure. The Brabant-based business is servicing clients in several different sectors such as electrical energy, oil and gas, drinking water, pharmacy and infrastructure.
The benefits of acquisition
The unique strengths of Security Matters in network monitoring and passive risk assessment combined with Forescout’s Device Visibility Platform offers a full spectrum of enterprise solutions in dynamic network segmentation and risk management for millions of OT devices and networks.
This acquisition will also enable enterprise-wide comprehensive risk profiling and compliance monitoring that would also enhance operational efficiency, making operational environments less vulnerable to disruption due to cyber-threats. It will augment risk detection and incident response to ICS threats and incident abnormalities.
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