PRESS RELEASE – DOUBLE EXTRAORDINARY OPERATION FOR THE ITWAY GROUP.December 5, 2023
The legality rating of ITWAY ★★+February 5, 2024
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ITWAY S.p.A. SIGLA PARTNERSHIP STRATEGICA CON RADIFLOW
REVENUES OF €5 MILLION EXPECTED OVER THREE YEARS
THE GLOBAL CYBER SECURITY OPERATION TECHNOLOGY (OT) MARKET IS WORTH $28 BILLION AND IS CONSTANTLY EXPANDING RAPIDLY
Ravenna, 17 January 2024 – The Itway group, a company listed on the Euronext Milan Market of the Italian Stock Exchange and operating in the IT sector for the design, production and distribution of technologies and solutions in the field of cybersecurity, artificial intelligence, cloud computing and big data, continuing its growth and expansion plans, has entered a strategic partnership with the company RADIFLOW in the field of OT Cyber Resiliency.
RADIFLOW, founded in 2009 and headquartered in Tel Aviv, offers solutions successfully used by leading industrial and utility companies that protect more than 6,000 critical facilities worldwide.
Thanks to this partnership, the Itway Group expects additional revenues of Euro 5 million over the next three years in various sectors such as Manufacturing, Chemicals, Electricity and Renewable Energy, Oil and Gas, Water/Aqueducts, Transport and Logistics
Itway thus strengthens its presence in the OT Cyber Resiliency segment of control systems (or cybersecurity of industrial control systems – Industrial Control Systems ICS) through the monitoring and/or direct control of equipment, assets, processes and industrial events in order to prevent intentional interference or avoid the incorrect operation of industrial automation and control systems. These control systems manage essential services such as electricity, oil production, water, transportation, manufacturing industries in all sectors, and communications. These companies, due to the market sectors in which they operate, are considered in all “Critical Infrastructure” countries.
“The RADIFLOW team is known for its expertise in cybersecurity and for its reputation in the OT world and this partnership agreement represents an important step in Itway’s strategic development plan in the OT Cyber Resiliency field, allowing us to enrich our Itway Security 360 ™ offer with exclusive services with high added value” says President G. Andrea Farina, He adds, “The expertise of our security teams, together with the solutions provided by RADIFLOW, represents a distinctive element in the field of resilience that will allow our customers to preserve industrial business assets, enabling them to continue to operate and perform in any situation.”
“OT Security must guarantee real-time control, adaptability, availability and continuity of operation, confidentiality and integrity of data. It must be able to sustain and protect automation networks used to control physical processes, such as emergency services, pharmaceutical manufacturing facilities, chemicals, transportation, power distribution, water, oil and gas, from cyberattacks. A security problem in this context of critical infrastructure would cause serious damage by suspending what are defined as essential services and causing economic losses, such as in the event of a production stoppage, and even worse consequences such as tampering with a water system or loss of life,” says Mark De Simone, Country Manager of Radiflow, which adds: “Cases of interruption of primary services such as energy are now commonplace; as a result, the investment in OT cybersecurity in recent years has become increasingly large and urgent. Cybercriminal groups are increasingly specializing in attacking critical infrastructures, also guaranteed by anonymity and the relative difficulty of attributing direct responsibility in the event of a cyber attack.”
Itway – www.itway.com
Founded in Ravenna on 4 July 1996 by G. Andrea Farina, Itway S.p.A. is the head of a group that operates in the IT sector for the design, production and distribution of technologies and solutions in the field of cybersecurity, cyber resilience, artificial intelligence (AI), cloud computing, big data and infrastructures.
Radiflow – www.radiflow.com
Radiflow was founded in 2009 as part of the RAD Group, a manufacturer of ICT products with over a billion dollars in revenue. Radiflow was then acquired by the Sabanci Group in 2021, a Group operating in Turkey with a consolidated turnover of around $30 billion. Radiflow is one of the leading companies providing Cyber Security and OT Risk Management solutions for critical networks of industrial automation plants (ICS/SCADA). Radiflow solutions are also sold as products that are integrated into end-to-end solutions from leading automation vendors.
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