- Rhebo's innovative technology enables real-time detection of cybersecurity threats and other anomalies in network control systems
- Landis+Gyr GmbH, a subsidiary of Landis+Gyr Group AG, has signed an agreement to acquire 100% of the capital of Rhebo GmbH
- The Rhebo management will continue to run the business as part of Landis+Gyr and drive the growth strategy
Leipzig, Germany / Cham, Switzerland, January 28, 2021 - Landis+Gyr GmbH, a subsidiary of Landis+Gyr Group AG, has signed an agreement to acquire 100% of the capital of Rhebo GmbH for a double-digit million amount.
Alongside various industrial companies, in Germany alone Rhebo serves energy suppliers with a current area coverage of over 31 percent. The cooperation with Landis+Gyr follows Rhebo's strategy to also seamlessly secure critical IoT devices in industrial networks. Rhebo had already integrated its solution at sonnen GmbH in 2019 to enable the global security and operational monitoring of their energy storage systems. With the acquisition of Rhebo, Landis+Gyr can extend the functionalities of its high-performance smart metering devices with comprehensive cybersecurity and availability.
»The cooperation with Landis+Gyr is not only enabling Rhebo's expansion,« Rhebo CEO Klaus Mochalski comments on the acquisition of Rhebo. »With the integration of Rhebo into Landis+Gyr's Advanced Metering Infrastructure, critical infrastructures worldwide will also get a secure solution for the further digitalization and automation of their services.«
Rhebo's experienced management team will continue to run the business in the future. »The takeover is also very good news for our customers. They can continue to rely on the proven Rhebo quality, now with a strong partner at their side,« adds Kristin Preßler, COO of Rhebo.
The acquisition of Rhebo by Landis+Gyr was officially announced at the Landis+Gyr Capital Market Day on January 27, 2021.
»Rhebo detects anomalies and threats right down to the periphery of the network (grid edge) and therefore fits perfectly with our cybersecurity strategy,« said Werner Lieberherr, CEO of Landis+Gyr, about the acquisition. »On behalf of all employees at Landis+Gyr, I warmly welcome the Rhebo team. We look forward to working together and making the advantages of this technology available to our customers.« The Landis+Gyr portfolio should be expanded in strategic growth markets through takeovers, but also through partnerships, said Werner Lieberherr at the Capital Market Day. He expects this transformation of the business to ensure long-term profitable growth.
Since 2014, Rhebo has been helping industrial companies and critical infrastructures to seamlessly monitor their Operational Technology (OT) and critical IoT devices, and identify anomalies in their communications. Network operators and IoT device manufacturers are empowered to detect and mitigate novel cyberattacks, espionage activities, manipulation, and technical error states in real-time before an incident occurs.
»We would like to thank our team as well our investors eCapital, Technologiegründerfonds Sachsen, Montan-Ventures-Saar and VNG Innovation for the good cooperation and the trust placed in us. We would also like to thank the team from Leipzig SpinLab Accelerator for their ongoing support and advice,« COO Kristin Preßler sums up.
Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, Landis+Gyr delivers innovative and flexible solutions to help utilities solve their complex challenges in Smart Metering, Grid Edge Intelligence and Smart Infrastructure. With sales of USD 1.7 billion in FY 2019, Landis+Gyr employs approximately 5,500 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.
SVP Investor Relations & Corporate Communications
Phone: +41 41 935 6396
Rhebo is the only vendor-independent provider of industrial monitoring solutions ensuring both cybersecurity and stability of ICS and IoT infrastructures. The German company’s solutions monitor all communication within the ICS and on distributed critical IoT devices. Any attacks, vulnerabilities as well as technical error states are reported in real-time. Thus, Rhebo vendor-neutrally supports industrial, energy and water companies to increase cybersecurity, productivity and availability of their systems and plants to safeguard their digital transformation.
In this role, the company is partner of the Alliance for Cyber Security of the Federal Office for Information Security (BSI), is actively developing standards and technical guidance in the Teletrust - Bundesverband IT-Sicherheit e.V. and the Bitkom Security Management Working Group.