ABB Technology Ventures made a profitable exit as it sold its share of cyber security company Industrial Defender to Lockheed Martin, which has fully acquired the business.
ABB Technology Ventures, the corporate venturing unit for Switzerland-based power and automation company ABB, has sold its stake in US-based cyber security provider Industrial Defender to aerospace company Lockheed Martin for an undisclosed amount.
ABB invested $5m in Industrial Defender’s series A round in 2010 and also participated in its 2012 series B round. Lockheed Martin has fully acquired Industrial Defender through the deal.
Grant Allen, principal at ABB Technology Ventures in North America, said: “This is a profitable exit…
