Sabanci Acquires OT Security Vendor Radiflow

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Acquisition will include an initial controlling stake in Radiflow with a phase 2 in Q1 2025. “We are confident that this transaction will enable Radiflow to continue its growth in the growing OT Security market,” said Ilan Barda, Radiflow’s CEO.

TEL AVIV, IsraelApril 29, 2022PRLog — Radiflow, an Israeli OT cybersecurity startup announced that it is being acquired in a two phase process by Sabanci Group, market leaders in the financial services, energy, and industrial sectors. The initial phase entails a $45  million primary and secondary investment in several installments to reach a majority stake in Radiflow. In the second phase Sabanci intends to acquire 100% stake in Radiflow by 2025.

A recent increase in demand for comprehensive OT cybersecurity solutions has allowed for Radiflow to rapidly expand across the US and Europe, doubling its sales in 2021. This growth was based on the launch of a first of its kind platform, CIARA Risk Management, which provides OT facilities with data-driven digital risk assessment by conducting breach attack simulations without having an impact on physical operations. Common in the IT world, this new digitized capability allows for cybersecurity officers (CISOs) to monitor their cyber risk posture in multiple facilities simultaneously and prioritize their security road-map plans.

Winning multiple awards and contracts from private and government organizations, CIARA has grown Radiflow’s business to protect critical government infrastructure and manufacturing facilities. “This acquisition will allow us to enhance our portfolio and strengthen our positioning in critical industries,” said Ilan Barda, CEO of Radiflow. “We are excited that Sabanci selected Radiflow to materialize its digital transformation growth plan and we are confident that this transaction will enable Radiflow to continue its growth in the fast-growing OT Security market.”

This acquisition provides Radiflow a unique position in the OT security market. By leveraging the extensive industrial footprint of the Sabanci Group, Radiflow plans to further optimize its OT security offering. Barda added, “We believe that the next phase in OT Risk Management is based on industry benchmarks and our collaboration with the Sabanci group subsidiaries will provide us in-depth insights to various industrial sectors and will enable us to continue and provide our customers leading-edge solutions.”

Sabanci Holding plans to create a digital business pillar focused on Advanced Analytics, IoT, and Cybersecurity. “We will strengthen Sabanci Group companies’ global position through the power of technology. We will pioneer projects and practices that will make a significant global impact in the ‘new economy’, particularly in digital technologies. The acquisition of Radiflow, a global player in cyber security with a proven track record, is a key step in the materialization of our strategic plan in the digital sphere. We, as Sabancı Group, are very pleased to add a global cyber security company serving in various markets with great human capital and strong partnerships in our portfolio.” said Kıvanç Zaimler, chairman of Dx Technology Services and Investment BV (DxBV), a newly established subsidiary of Sabancı Holding.