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Tenable Buys Industrial Security Startup Indegy To Boost OT Protection

The $78 million Indegy acquisition will extend the breadth of its Tenable’s OT-specific capabilities in areas like vulnerability management, asset inventory, configuration management, and threat detection.

Tenable has purchased industrial security startup Indegy for $78 million to provide visibility, protection and control across operational technology (OT) environments.

The Columbia, Md.-based security and cyber risk vendor said its acquisition of New York-based Indegy will extend the depth of Tenable’s OT expertise and intelligence as well as the breadth of its OT-specific capabilities in areas like vulnerability management, asset inventory, configuration management, and threat detection.

“The combination of Tenable and Indegy brings together two pioneers of IT vulnerability management and industrial cybersecurity to deliver the industry’s first unified, risk-based view of IT and OT security,” Tenable Chairman and CEO Amit Yoran said in a statement. “This is a game-changer that will help transform how security and the C-suite make strategic decisions around OT risk.”

[Related: Cybersecurity Firm Tenable Files For $100M IPO, Reveals Strength Of Channel Operations]

The transaction closed Monday, and is expected to increase Tenable’s fourth quarter 2019 non-GAAP net loss by approximately $2 million, or $0.02 per share. The deal is expected to be immaterial to Tenable’s fourth quarter revenue and current calculated billings performance. Tenable’s stock remains unchanged in after-hours trading Monday at $26.62 per share.

Indegy was founded in 2014, employs 65 people, and has raised $36 million in three rounds of outside funding, according to LinkedIn and Crunchbase. The company most recently closed an $18 million Series B round in August 2018, Crunchbase said.

“When we started Indegy, we set out on a mission to protect industrial networks through a mix of cybersecurity expertise and hands-on OT experience, developing products which solve the hardest industrial cybersecurity challenges,” Indegy Co-Founder and CEO Barak Perelman said in a statement. “We are excited to accelerate this mission by joining Tenable.”

The integration of Indegy’s Industrial Cybersecurity Suite with Tenable.sc for on-prem vulnerability management is available today, according to the company. The Indegy integration with Tenable.io for cloud-based vulnerability management and Tenable Lumin for cyber exposure tracking will be available in the first half of 2020, the company said.

Tenable and Indegy said they deliver the following capabilities within a single platform: risk-based measurement; a unified view of IT and OT vulnerabilities; depth of intelligence into OT environments; IT and OT vulnerability assessment; and OT-specific process management.

From a risk measurement standpoint, the company said businesses will be able to score, trend and benchmark IT and OT together in Tenable Lumin while applying asset-relevant policies, metrics and KPIs. And OT vulnerabilities can now leverage Tenable Predictive Prioritization, which applies data science to prioritize issues for remediation based on the vulnerability and likelihood of exploitability, Tenable said.

Indegy will also contribute to more accurate and complete management by bringing an understanding of the entire OT device, including components from multiple vendors and how they relate to each other. Combining Tenable’s agent-based scanning, active analysis and passive monitoring with Indegy’s deep OT device intelligence will create an accurate and comprehensive vulnerability data set, the firm said.

Finally, Tenable said that security and plant operations teams alike will benefit from Indegy’s OT asset inventory, configuration management, vulnerability management, and threat detection capabilities.

“This acquisition is a critical milestone in delivering on our Cyber Exposure strategy to help organizations understand and reduce cyber risk across the entire modern attack surface,” Yoran said in the statement. “We look forward to working with the Indegy team to help the industry usher in the next wave of IT/OT convergence.”

The Indegy deal is just the second acquisition in Tenable’s 17-year history, and comes three years after the company purchased container security company FlawCheck to provide comprehensive security for customers using Docker. In July 2018, Tenable raised $250 million in an initial public offering that valued the company at $2.1 billion.

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