Honeywell to Acquire Industrial Cyber Security Software Leader Nextnine

Stocks and Financial Services Press Releases Monday June 19, 2017 15:19
MORRIS PLAINS, N.J.--19 Jun--PRNewswire/InfoQuest
Broadens industrial cyber security offerings to meet increasing threat to industrial facilities and critical infrastructure

Honeywell (NYSE: HON) announced today 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 industry-leading security solutions and secure remote service capabilities will enhance the Company's existing range of innovative cyber security technologies and significantly 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 extensive 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 proven capability to provide multi-vendor solutions.

Founded in 1998, Nextnine has been backed to date by Infinity VC, XT Hi-Tech and several other prominent investors.

"Each day, the number of attempted cyber attacks on industrial facilities and critical infrastructure around the world increases," said Vimal Kapur, president of Honeywell Process Solutions. "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. Honeywell's extensive global reach will increase Nextnine's availability to a broader range of customers."

Nextnine's security solutions also will be a key enabler of Honeywell Connected Plant, which combines Honeywell's unmatched industrial expertise, software and digital technologies to make its customers' operations more reliable, profitable and secure than ever before possible. Cyber security is a critical part of that program.

Honeywell has 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 first solution to proactively monitor, measure and manage industrial cyber security risks, and Secure Media Exchange (SMX), which pro tects plants against threats from removable media such as USB flash drives.

Honeywell Process Solutions ( www.honeywellprocess.com ) is a pioneer in automation control, instrumentation and services for the oil and gas; refining; pulp and paper; industrial power generation; chemicals and petrochemicals; biofuels; life sciences; and metals, minerals and mining industries. It is also a leader in providing software solutions and instrumentation that help manufacturers find value and competitive advantage in through Honeywell Connected Plant, Honeywell's Industrial Internet of Things (IIoT) solution. Process Solutions is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell UOP ( www.uop.com ), a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries.

Honeywell ( www.honeywell.com ) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom .

Contact:
Don Empie
+1 832.252.3619
donald.empie@honeywell.com
Photo - https://photos.prnasia.com/prnh/20170619/1878861-1
Caption - Honeywell to acquire Nextnine

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