Honeywell's acquisition of cybersecurity vendor points to deep IoT vulnerabilities in manufacturing
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The manufacturing sector is full of unprotected Internet of Things (IoT) sensors and devices, many of which are embedded in business-critical systems. The resulting gaps make operational technology (OT) and information technology (IT) networks vulnerable to devastating cyberattacks.
Visibility is key. Shivan Mandalam, director of product management for IoT security at CrowdStrike, told VentureBeat that “it is critical for organizations to eliminate blind spots associated with legacy systems that are unmanaged or unsupported. With increased visibility and analysis across IT and operational systems, security teams can quickly identify and resolve issues before adversaries exploit them. »
Honeywell's acquisition of Israeli company SCADAfence, a leading provider of OT and IoT cybersecurity solutions, is just one example of the manufacturing industry's efforts to catch up, fill these spreads and defend against an increasing number of ransomware attacks.
Manufacturing industry: an industry under siegeAnything that keeps a shop running can quickly cost a company millions of dollars. This is why ransomware attacks against manufacturers generate millions in payouts. Hundreds of manufacturers pay for ransomware claims without informing their customers.
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Register nowGartner predicts that the financial impact of attacks on cyber-physical systems (CPS) will reach more than $50 billion by 2023. Recovery from a typical manufacturing breach costs $2.8 million. And that's not all: nearly nine out of ten manufacturers who suffered a ransomware attack or breach also saw their supply chains disrupted.
Honeywell acquires SCADAfence to close the gapHoneywell's acquisition of SCADAfence provides the manufacturing giant with “additional technology and expertise that helps us accelerate our innovation roadmap…and meet rapidly changing customer requirements,” Michael Ruiz , Managing Director of
Visit our on-demand library to view VB Transform 2023 sessions. Sign up here
The manufacturing sector is full of unprotected Internet of Things (IoT) sensors and devices, many of which are embedded in business-critical systems. The resulting gaps make operational technology (OT) and information technology (IT) networks vulnerable to devastating cyberattacks.
Visibility is key. Shivan Mandalam, director of product management for IoT security at CrowdStrike, told VentureBeat that “it is critical for organizations to eliminate blind spots associated with legacy systems that are unmanaged or unsupported. With increased visibility and analysis across IT and operational systems, security teams can quickly identify and resolve issues before adversaries exploit them. »
Honeywell's acquisition of Israeli company SCADAfence, a leading provider of OT and IoT cybersecurity solutions, is just one example of the manufacturing industry's efforts to catch up, fill these spreads and defend against an increasing number of ransomware attacks.
Manufacturing industry: an industry under siegeAnything that keeps a shop running can quickly cost a company millions of dollars. This is why ransomware attacks against manufacturers generate millions in payouts. Hundreds of manufacturers pay for ransomware claims without informing their customers.
EventVB Transform 2023 on demand
Did you miss a session of VB Transform 2023? Sign up to access the on-demand library for all of our featured sessions.
Register nowGartner predicts that the financial impact of attacks on cyber-physical systems (CPS) will reach more than $50 billion by 2023. Recovery from a typical manufacturing breach costs $2.8 million. And that's not all: nearly nine out of ten manufacturers who suffered a ransomware attack or breach also saw their supply chains disrupted.
Honeywell acquires SCADAfence to close the gapHoneywell's acquisition of SCADAfence provides the manufacturing giant with “additional technology and expertise that helps us accelerate our innovation roadmap…and meet rapidly changing customer requirements,” Michael Ruiz , Managing Director of
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