Turkey-based industrial and financial conglomerate Sabanci Group has signed an agreement to acquire a majority stake in operational technology (OT) cybersecurity company Radiflow for $45 million.
Israel-based Radiflow provides cybersecurity solutions for critical infrastructure networks, including risk management, visibility and anomaly detection, and secure access products.
Sabanci Group is initially buying a 51% stake in Radiflow for $45 million, and it plans on fully acquiring the company in 2025.
The acquisition will be made through Dx Technology Services and Investment BV (DxBV), a new digital services-focused investment firm established by Sabanci in the Netherlands.
“This acquisition will allow us to enhance our portfolio and strengthen our positioning in critical industries,” said Ilan Barda, CEO of Radiflow.
“We believe that the next phase in OT Risk Management is based on industry benchmarks and our collaboration with the Sabanci group subsidiaries will provide us in-depth insights to various industrial sectors and will enable us to continue and provide our customers leading-edge solutions,” Barda added.
Barda noted that the deal with Sabanci will not impact day-to-day operations and interactions with partners and customers.
A study conducted by SecurityWeek showed that of the 430 cybersecurity M&A deals announced in 2021, nine involved companies that provide industrial security solutions.