In a strategic move aimed at fortifying cybersecurity measures for connected devices, Dragos, a leader in industrial cybersecurity, has acquired xIoT security firm Phosphorus. This acquisition is set to bolster Dragos’s capabilities in managing the security of an increasing number of embedded devices within critical infrastructure and operational networks.
Background of Phosphorus
Established in 2017, Phosphorus was co-founded by Chris Rouland, Earle Ady, and Rebecca Rouland. Chris Rouland, who serves as the CEO, is well-known for founding Bastille and Endgame, and for leading the X-Force division at IBM as CTO and Distinguished Engineer. Phosphorus’s platform excels in identifying connected devices, evaluating their vulnerabilities, and executing remediation measures at scale.
Phosphorus’s solution also automates essential security operations, including password changes, firmware upgrades, certificate management, and remediation across extensive networks of connected devices. This capability is crucial for maintaining robust security in environments with numerous IoT devices.
Strategic Vision and Integration
Robert M. Lee, CEO and Co-Founder of Dragos, emphasized the significance of this acquisition, noting that it is not merely about IoT but about extending operational technology (xOT). He highlighted the importance of managing the control loop and the physical processes, rather than focusing solely on the operating system.
In the short term, Dragos’s clientele will benefit from enhanced asset visibility and enriched device intelligence. The integration promises automated remediation processes and a cohesive platform experience, although the complete integration timeline remains undisclosed. Existing customers from both companies will continue to receive support during the integration phase.
Leadership and Financial Details
Sonu Shankar is set to remain at the helm of the Phosphorus division as a General Manager within Dragos, ensuring a structured and phased integration process. While financial specifics of the deal have not been released, it’s noteworthy that Phosphorus, headquartered in Nashville, TN, had secured approximately $65 million in funding, including a significant $38 million round early in 2022.
This acquisition marks a pivotal step in enhancing cybersecurity for connected devices, reflecting Dragos’s commitment to addressing the growing complexities in securing critical infrastructure.
