PAS announces $40 million investment to fuel cybersecurity efforts
April 17, 2017 – PAS, a provider of industrial control system (ICS) cybersecurity, process safety, and asset reliability solutions for the energy, power, and process industries, announced a $40 million growth investment by Tinicum, L.P. and certain affiliated funds managed by Tinicum Incorporated (“Tinicum”). Tinicum is a private investment partnership focused on late stage investments in manufacturing, energy, technology, media, and infrastructure.
This funding round will expand PAS sales and marketing across its global offices as well as increase research and development for Cyber Integrity, its flagship cybersecurity software product. Cyber Integrity protects critical infrastructure from risks associated with rising industrial internet of things (IoT) adoption, malicious cyber attacks, and insider threats.
Industrial control systems have a responsibility for running critical infrastructure safely and reliably. These systems have traditionally relied on complexity, air gapping, and perimeter-based defenses to remain secure. PAS Cyber Integrity deciphers the complex, proprietary configurations of control systems giving companies complete visibility into critical cyber assets. It also identifies unauthorized changes, exposes vulnerabilities, drives compliance, and helps facilities recover in the event of a worst-case scenario. Cyber Integrity works across the heterogeneous automation environment, providing enterprise scalability, performance, and platform independence.
Signal Hill served as the exclusive financial advisor to PAS on the transaction. In conjunction with the investment, Plant Automation Services, Inc. (“PAS”) has reorganized under the new name PAS Global, LLC.
MORE INDUSTRY NEWS
ISA Society Goes to Washington: Building America's Engineering Vision
By Paul Gruhn, ISA Society Leader
Pat Gouhin (ISA CEO and Executive Director), Robert Lindeman (AAES Board member and former ISA Society...
IFR Report: US automotive industry installs a new record of ~17,500 industrial robots in 2016
These are preliminary results published by the Statistical Department of the International Federation of Robotics (IFR). During the same period,...
Telit partners with Freudenberg IT to support IIoT device management
The cooperation between FIT and Telit will focus on transforming the business service and offerings of manufacturers, enabling them to capitalize...
Rotork actuators used to help upgrade Brazilian water treatment plant
Profibus DP enabled Rotork IQ multi-turn electric valve actuators were installed during the upgrade and expansion of the water treatment plant. The...
Opto 22 announces joining of The Linux Foundation
In joining The Linux Foundation, Opto 22 hopes to spearhead the adoption of open-source technology in the industrial automation and process control...
Rockwell to share digital automation solutions at Offshore Technology Conference
Visitors to the Rockwell Automation booth (NRG Center, Booth 847) will also learn about the latest control and safety solutions for subsea and...
Why the Transition to IIoT will be an Evolution, Not a Revolution
By Jason Andersen, Stratus Technologies
The vision of an intelligent, connected automation infrastructure has the potential to dramatically...
Otto Motors helps GE enable lean manufacturing of medical equipment
GE Healthcare has reduced the size of its repair cell stations at the Repair Operations Center by 40%, much of which is due to the integration of...
What Production Data is Necessary to Drive Your Industry 4.0 Agenda?
By Mathew Daniel, Sciemetric Instruments
Data, data and more data. It’s the hot topic in manufacturing today with all the hype and anxiety...
Emerging Efficiencies for Packaging Lines
By Tom Egan, PMMI, The Association for Packaging and Processing Technologies
Robotics, automatic labelers, smart packaging and digital printing...