GE to Acquire Wurldtech to Advance Cyber Security Efforts for Critical Infrastructure and Operations Technology
Wurldtech cyber security technology and services to help assess, protect and certify critical infrastructure and industrial products
Wurldtech to operate autonomously while capitalizing on GE resources to accelerate key technology programs and market expansion
SAN RAMON, Calif., May 9, 2014– GE (NYSE: GE) announced today a definitive agreement to acquire privately held Wurldtech, a Vancouver, British Columbia-based company and recognized 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.
Wurldtech Technology & Professional Services
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, and
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.
“The world of OT security needs to be foundationally different from traditional IT detection systems. Securing connected machines has a unique set of complexities that are very different from protecting a datacenter,” said Bill Ruh, vice president, GE Software. “At GE, we are focused on software platform security, protecting critical infrastructure and helping to ensure the reliability of Industrial Internet operationsfor our customers and industries. The acquisition of Wurldtech is a perfect fit for addressing all of these big challenges.”
"We are excited about the opportunity to be part of GE and continuing to develop our strategy to provide best in class cyber security protection solutions for critical infrastructure markets,” said Wurldtech CEO Neil McDonnell. “We look forward to accelerating key programs as we advance cyber security for system operators and device manufacturers across the industry.”
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and helping to cure the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Wurldtech is in the business of helping customers protect their critical infrastructure from cyber attack. Wurldtech works with both device manufacturers and system operators to help provide protection for critical infrastructure against the persistent and dynamic cyber threats. Customers worldwide spanning Oil & Gas, Electric Power, Medical, Nuclear, Chemical, Manufacturing, Pharmaceutical and Water Treatment markets use Wurldtech products and services to reduce the risks and costs of a cyber attack, maximize system uptime and meet compliance mandates. Our Achilles certification programs have been widely adopted by both manufacturers and operators to deliver third party benchmark testing of product and system security. Additional information can be found at www.wurldtech.com.
Leigh Farris, 203-551-1863
Holly Gilthorpe, 925-242-6896