June 23, 2016

Microsemi invests in Veracity for presence in IoT Security Market

Collaboration between companies seeks to help industrial customers with security concerns through increased product development

Microsemi, a semiconductor solutions provider, today announced its collaboration with Veracity Security Intelligence, a network security organisation that delivers enterprise class security platform for operational technology (OT) networks, to develop secure networking solutions for industrial Ethernet deployments.

Through this collaboration, the companies seek to bring new capabilities to the market as the first security solution of its kind optimized for industrial networks, enabling full industrial network security with a simple software installation in managed industrial switches.

Larry O’Connell, director of product marketing at Microsemi said:

Our collaboration with Veracity underscores Microsemi’s commitment to enable and accelerate the transition of industrial networks to Ethernet with broad offerings of silicon, system and software solutions. Veracity’s security software solution, combined with Microsemi’s Ethernet switch portfolio, will enable industrial companies to easily secure their Ethernet networks with minimal software and hardware upgrades, unlike alternatives which require a complex and costly network overhaul.

Microsemi says that it has also invested in Veracity as part of an early stage raise allowing the company to fund its product development efforts. This minority position will enable Microsemi to further collaborate with Veracity to deliver innovative security solutions to its strategic customers.

Steve Litchfield, EVP and chief strategy officer for Microsemi said:

Internet of Things (IoT) security applications are an important part of our long-term growth at Microsemi, and we are committed to building upon our market advantages. Security needs within the IoT market are growing significantly, with Gartner currently forecasting the demand for connected things to reach 11.4 billion devices in 2018, and we believe hardware-based security for IoT is a key differentiator—particularly in industrial and automotive applications.

 

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