Rockwell Automation, Inc. (NYSE: ROK) today announced that it has signed an agreement to acquire Israeli cybersecurity company Avnet Data Security Ltd. Avnet provides IT/OT cyber services and solutions ranging from assessments, penetration testing, network and security solutions, and training to converged IT/OT managed services.
Rockwell said that the transaction is expected to close in early 2020 subject to customary approvals and conditions. No financial details were disclosed and Rockwell added that the acquisition is not expected to have a material impact on its 2020 financial results.
Rockwell Automation SVP control products & solutions Frank Kulaszewicz said, "Avnet’s combination of service delivery, training, research, and managed services will enable us to service a much larger set of customers globally while also continuing to accelerate our portfolio development in this rapidly developing market."
Cybersecurity is one of the fastest growing parts of Rockwell Automation’s services business.
Avnet CEO Igal Cohen said, "We are excited to join Rockwell Automation to further expand their already robust cyber offering. We are continuing to serve our existing clients while expanding our reach to service a much broader range of customers. Our passion and mission have always been to help as many organizations as possible secure their data from internal and external threats."
Based in Rishon Lezion near Tel Aviv, Avnet was founded 20 years ago.
Published by Globes, Israel business news - en.globes.co.il - on January 8, 2020
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