Growing Cybersecurity Concerns in Industrial Sector Fuel 2015 Growth for PAS

February 8, 2016

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HOUSTON–(BUSINESS WIRE)–PAS, Inc., the leading solution provider of ICS cybersecurity, process safety, and asset reliability in the energy, power, and process industries, announced today record-breaking growth across the company’s business units. The PAS Cybersecurity business unit grew the fastest with a 48 percent increase in orders year over year. PAS also continued to aggressively expand its customer base within oil and gas, petrochemical, and power industries.

Despite a challenging economic climate, companies continue to invest in solutions that address cybersecurity risk within the process control network layer. PAS Cyber Integrity™ addresses this risk by automating the inventory of both proprietary (OT) and non-proprietary (IT) control system assets and by managing change, patch, and compliance activities across these systems. Power and process industry customers see resulting gains in safety, security, and asset reliability from deploying PAS solutions.

PAS’ commitment to safety and cybersecurity was a significant contributor to its performance in 2015. Highlights of critical milestones include:

  • Financial Performance: PAS closed the year with the highest revenue in the history of the company and a 45 percent increase in operating income over 2014.
  • Business Updates: PAS launched its new Cybersecurity business unit in May reflecting the company’s commitment to and ongoing investment in ICS cybersecurity.
  • Product Releases: PAS released Cyber Integrity 5.0 in November featuring closed-loop patch management automation and enhanced compliance capabilities.
  • Customer Milestone: The PAS customer base eclipsed the 900 mark – an 8 percent growth rate that includes new cybersecurity customers in the oil and gas, petrochemical, power, and nuclear industries.

PAS solutions are regarded as mission critical and deployed enterprise-wide within many global industrial companies. PAS blue chip global clients include 9 of the top 15 largest power companies, 14 of the top 15 largest chemical companies, and 12 of the top 15 largest refining companies. In support of its expanding customer base, PAS grew headcount by 16 percent in 2015 and expects additional growth of 20 percent in 2016. A privately held company, PAS is headquartered in Houston, Texas with regional offices in Australia, Bahrain, Canada, Qatar, Singapore, South Africa, and the United Kingdom.

“Our customers are keenly interested in protecting their ICS assets from internal and external cyber threats to safety and security,” says Eddie Habibi, PAS founder and CEO. “With the number of cyber incidents on the rise, industrial companies depend on PAS solutions to detect unauthorized activity deep within the proprietary control systems, which IT-based tools fail to identify. We are proud of our achievements in 2015, not only within cybersecurity, but also our traditional businesses of alarm management and high performance HMI. Last year was a momentum-building year for us, and we are eager to make even greater strides providing value for our customers in 2016.”

A noted industry speaker and author, Habibi is participating in an industry panel this week at the ARC Industry Forum in Orlando, Florida, to discuss ongoing industry trends and concerns around cybersecurity. In addition, PAS is showcasing its Cyber Integrity solution in booth 16.

Additional Resource:

ICS Matters Blog

About PAS

PAS is a leading provider of software solutions for process safety, cybersecurity, and asset reliability to the energy, process, and power industries worldwide. PAS solutions include cyber asset management and operations management, and are installed in more than 1,100 facilities worldwide with more than 41,600 users. For more information, visit www.pas.com. Connect with PAS on Twitter @PASGlobal or LinkedIn.

Category: Oil & Gas