Hexagon AB today said it has acquired industrial control system cybersecurity company PAS Global LLC for an undisclosed sum.

Founded in 1993, PAS providers safety, cybersecurity and asset management reliability solutions for the energy, process and power industries worldwide. The company’s ICS cybersecurity, automation asset management and operations management software and services are designed to provide safe, profitable and compliant operations.

PAS’s software solutions are said to offer platform independence, offering clients a seamlessly integrated and unified solution for managing a variety of different systems on their sites. The company says that typically there are more than 30 automation system brands and models within a typical enterprise, making it difficult to manage and protect the ICS layer from cyber threats and vulnerabilities.

PAS customers include 13 of the top 15 refining companies in the world, 13 of the top 15 chemical, four of the top five in pulp and paper, three of the top five in mining and seven of the top 20 power generation companies.

The relationship between PAS and Hexagon began as a capital raise, with Hexagon initially being evaluated as one of several potential investors interested in assisting PAS to continue its growth. Instead of investing in the company, Hexagon liked what it saw so much that it acquired PAS instead. 

PAS, which will be integrated into Hexagon’s PPM (formerly Intergraph Process, Power & Marine) division will bring a new cybersecurity-focused business segment into Hexagon’s existing business along with delivering more than 500 customers across 1,450 sites in 70 countries.

“The strategic acquisition of PAS will expand our owner operator market presence and broaden our capabilities by extending Hexagon solutions to operational risk management and operational technology cybersecurity,” Hexagon PPM President Mattias Stenberg said in a statement.

Prior to acquisition, PAS had raised $40 million in a private equity round led by Tinicum in 2017.

The PAS deal is the second recent deal for Hexagon. It acquired MDE Network SRL, an Argentinian provider of solutions for operations management and optimization, in September.

Photo: PAS Global/Facebook