We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Honeywell (HON) to Acquire Cybersecurity Business, SCADAfence
Read MoreHide Full Article
Honeywell International Inc. (HON - Free Report) has reached a deal to acquire SCADAfence, a provider of operational technology (OT) and Internet of Things cybersecurity solutions for monitoring large-scale networks.
The move is prudent as the OT cybersecurity industry is expected to increase by more than $10 billion in the next several years. Cybersecurity risks are a growing concern today. Cyberattacks focused on OT systems can result in trillions of dollars in lost revenues for the industrial and critical infrastructure sectors.
The acquisition will expand Honeywell's OT cybersecurity portfolio in Tel Aviv, Israel. Simultaneously, it will fortify Honeywell’s existing capabilities in cybersecurity, offering customers enhanced security, reliability and efficiency.
SCADAfence will be integrated into the Honeywell Forge Cybersecurity+ suite within Honeywell Connected Enterprise, HON’s software unit focusing on digitalization, sustainability and OT cybersecurity SaaS offerings and solutions. The integration will provide enhanced asset discovery, threat detection and compliance management capabilities to site managers, operations management, and chief information security officers, who seek enterprise security management.
Subject to regulatory approvals and customary closing conditions, the acquisition is expected to close in the second half of 2023.
Zacks Rank & Other Stocks to Consider
Honeywell presently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks are as follows:
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2. The company pulled off a trailing four-quarter earnings surprise of 3.5%, on average.
ITT has an estimated earnings growth rate of 9.7% for the current year. The stock has rallied 44.2% in a year.
Image: Bigstock
Honeywell (HON) to Acquire Cybersecurity Business, SCADAfence
Honeywell International Inc. (HON - Free Report) has reached a deal to acquire SCADAfence, a provider of operational technology (OT) and Internet of Things cybersecurity solutions for monitoring large-scale networks.
The move is prudent as the OT cybersecurity industry is expected to increase by more than $10 billion in the next several years. Cybersecurity risks are a growing concern today. Cyberattacks focused on OT systems can result in trillions of dollars in lost revenues for the industrial and critical infrastructure sectors.
The acquisition will expand Honeywell's OT cybersecurity portfolio in Tel Aviv, Israel. Simultaneously, it will fortify Honeywell’s existing capabilities in cybersecurity, offering customers enhanced security, reliability and efficiency.
Honeywell International Inc. Price
Honeywell International Inc. price | Honeywell International Inc. Quote
SCADAfence will be integrated into the Honeywell Forge Cybersecurity+ suite within Honeywell Connected Enterprise, HON’s software unit focusing on digitalization, sustainability and OT cybersecurity SaaS offerings and solutions. The integration will provide enhanced asset discovery, threat detection and compliance management capabilities to site managers, operations management, and chief information security officers, who seek enterprise security management.
Subject to regulatory approvals and customary closing conditions, the acquisition is expected to close in the second half of 2023.
Zacks Rank & Other Stocks to Consider
Honeywell presently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks are as follows:
ITT Inc. (ITT - Free Report) presently carries a Zacks Rank #2. The company pulled off a trailing four-quarter earnings surprise of 3.5%, on average.
ITT has an estimated earnings growth rate of 9.7% for the current year. The stock has rallied 44.2% in a year.
Xylem Inc. (XYL - Free Report) currently sports a Zacks Rank #1 (Strong Buy). The company delivered a trailing four-quarter earnings surprise of 17.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Xylem has an estimated earnings growth rate of 21.7% for the current year. The stock has surged 45.5% in a year.