Industrial giant Rockwell Automation announced on Monday that it has signed a definitive agreement to acquire Verve Industrial Protection, a cybersecurity company specializing in industrial control systems (ICS) and operational technology (OT).
Verve’s managed OT/ICS security platform provides asset inventory, vulnerability management, patch management, configuration management, SIEM, incident response, and backup and restore capabilities.
In addition, the company provides network segmentation, vulnerability assessment, system hardening, automation engineering, and consulting services.
The deal enables Rockwell Automation to expand and strengthen its offering.
Financial details have not been disclosed. The acquisition is expected to close in the first quarter of Rockwell’s 2024 fiscal year. Once the deal has been completed, Verve will be part of Rockwell’s Lifecycle Services unit.
“With the Verve acquisition, our customers can quickly assess their assets, prioritize risk, and apply countermeasures to mitigate vulnerabilities – all within a single platform,” said Matt Fordenwalt, Rockwell’s senior vice president of Lifecycle Services. “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.”
Half a dozen of the M&A deals announced in 2022 involved industrial cybersecurity companies, according to data from SecurityWeek’s M&A tracker. Only a couple of deals announced to date in 2023 involved ICS security solutions providers.