Rockwell Automation Signs Agreement To Acquire Verve Industrial Protection; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Rockwell Automation, Inc. (NYSE:ROK) has announced a definitive agreement to acquire Verve Industrial Protection, a cybersecurity software and services company. The acquisition is expected to expand Rockwell's cybersecurity offerings, addressing the increasing threat of operational technology and industrial control systems attacks. The deal is subject to customary approvals and is expected to close in the first quarter of Rockwell's fiscal year 2024.
October 23, 2023 | 12:52 pm
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POSITIVE IMPACT
Rockwell Automation's acquisition of Verve Industrial Protection is expected to strengthen its cybersecurity offerings. This could potentially increase Rockwell's market share and revenue in the long term.
The acquisition of Verve Industrial Protection is expected to enhance Rockwell Automation's cybersecurity offerings, which is a growing market due to increasing cyber threats. This could potentially increase Rockwell's market share and revenue in the long term.
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