Honeywell Process Solutions (“HPS”), a part of Honeywell International Inc. HON, teamed up with Intel Corporation’s INTC Security division, in order to fortify the security of critical industrial infrastructure and the Industrial Internet of Things (IIoT).
The alliance will merge Intel Security’s leading-edge cyber security technology with Honeywell’s distinctive industrial process domain expertise, delivering customized security solutions for the industrial space.
Per the collaboration, Honeywell will integrate Intel Security’s McAfee technologies into its Industrial Cyber Security Solutions. This is intended to safeguard Honeywell’s clients and their control systems from malware and abuse with the use of improved security software.
In the initial stage, Honeywell’s proprietary cyber security for its Experion Process Knowledge System will be qualified with Intel Security’s Application Whitelisting and Device Control. This will offer customers a validated, competent solution, which will boost protection from malware threats without compromising on reliability.
Intel Security’s Enterprise Security Manager and Next Generation Firewall will also be made available to Honeywell customers, supported by the latter’s Industrial Cyber Security Risk Manager, which offers a constant evaluation of cyber security risks within industrial environments. The McAfee Application Whitelisting permits only authorized code to run, thus ensuring system integrity, while the McAfee Device Control lets users identify and classify what data can and cannot be transferred to plug-in devices.
The partnership will thus provide uninterrupted security for both connected and air-gapped systems without any additional need for signature updates. This solution is perfect for isolated systems within industrial control systems, as it is intended to work without requiring any access to the Internet or any other network.
Technologies in the IIoT space have incredible potential, and thus are more vulnerable to security concerns. In order to enable growth in this space, safeguarding critical infrastructure and the emerging IIoT from cyber threats is crucial.
In light of the alarming rise in cyber crimes, Gartner and Forester Research estimates that global information security spending will escalate by about 8.2% to $76.9 billion in 2015.
With hackers getting stronger and data breaches notoriously rising in the U.S., spending on IT companies offering security has become the call of the moment. The threat of cyber attacks on industrial and critical infrastructure targets is growing rapidly and customers are demanding effective cyber security to assist them in protecting their assets and people.
Honeywell presently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Hitachi Ltd. HTHIY and Shanghai Industrial Holdings Limited SGHIY, both holding a Zacks Rank #2 (Buy).
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