With last week’s announcement that GE is acquiring Wurldtech, a march of consolidation in the industrial Cyber Security market continues. First Byres (Tofino) Security found itself at Belden. Then last month Industrial Defender announced acquisition by Lockheed Martin.
That is the way of the world for small companies. Sometimes you hit a market that can grow exponentially. But not so much in industrial technology. So, the exit is to find a good suitor.
That leaves exida standing, although it is considerably larger than the other three. And Waterfall. Both, though also are players in industrial safety, as well as security.
Here is the gist of the GE announcement.
GE announced a definitive agreement to acquire privately held Wurldtech, a Vancouver, British Columbia-based company and leader in cyber security solutions. This move is one of several by GE to help protect critical infrastructure and advance cyber security efforts globally for key industries. Wurldtech solutions and services are used in complex environments such as oil refineries, power transmission grids or for individual assets like medical devices or smart meters.
Traditional information technology (IT) approaches for securing systems and data are challenging when applied to the operations technology (OT) world. Wurldtech solutions offer a strategic approach to cyber security that help to better protect the OT that connects people, data and machines–maximizing system uptime and mitigating exposure to vulnerabilities. This acquisition will help to enhance the reliability of Industrial Internet operations, according to GE.
Wurldtech’s technology and professional services are designed to Assess, Protect and Certify. This strategic approach to cyber security is performed using:
- Achilles Test products to discover operational vulnerabilities in products and critical infrastructure and then assess the root cause
- Achilles Threat Intelligence product to secure OT networks with an industrial firewall
- Achilles Communications and Practices Certifications to evaluate device communications and best practices
Wurldtech will retain its name and operate as a wholly owned subsidiary to continue providing the necessary focus on services to its broader customer base. Financial terms were not disclosed.