General Electric recently signed an agreement to acquire Wurldtech, Vancouver, B.C., a private company that specializes in cybersecurity for operations technology. According to a post on Zachs Equity Research, GE said it intends to advance cyber security solutions for critical infrastructure and operations technology globally. Wurldtech will operate as a wholly owned subsidiary of GE.
Wurldtech offers its solutions and services in complex environments such as oil refineries, power transmission grids, medical devices and smart meters, providing test products that check operational vulnerabilities and protect operations-technology networks and certify them.
The Zachs report said, “This strategic move by General Electric is expected to boost the reliability of its Industrial Internet operations. Companies continue to thrive under growing threats from the cyber space and General Electric believes the acquisition of Wurldtech will fully equip it to provide high-class cyber security solutions, thereby enabling reduced risk and costs of a cyber attack.”
Read the full report, GE to Buy Wurldtech