Israeli OT cybersecurity startup Radiflow has announced that it is being acquired in a two-phase process by Sabanci Group.
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 a 100% stake in Radiflow by 2025.
As a part of the agreement, Sabanci Group will buy a 51% controlling stake in Radiflow and will buy the remaining 49% stake in Q1 2025.
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A recent increase in demand for comprehensive OT cybersecurity solutions has allowed 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 roadmap plans.
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