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Owners
History
2021: Acquisition by Schwarz Gruppe for $700 million
The German riteylingovy The corporation Schwarz Gruppe announced the acquisition Israeli of funds supplier XM cyber security Cyber for 700 million. dollars This became known on November 22, 2021.
Source photo: keywordbasket.com
Schwarz Gruppe owns the brands Lidl and Kaufland; this is the retailer, which ranks fourth in terms of turnover in the world as of November 2021.
The flagship development of XM Cyber allows its customers to simulate a large-scale cyber attack to identify weaknesses in corporate protection and eliminate them before a real attack occurs.
Schwarz's own portfolio still had nothing to do with cybersecurity and digital technology in general. However, as traditional retailers master online trading, the issue of cyber defense is becoming more acute.
According to Christian Müller, director of information at Schwarz Gruppe, detecting and eliminating vulnerabilities from the perspective of a potential attacker is a way to proactively protect corporate networks. And this is what XM Cyber will provide Schwarz Gruppe.
 | The decision of a non-technological company in its main profile to strengthen its cyber defense through the acquisition of a company that is engaged in this professionally is perhaps a very visionary step. Retail will increasingly go online, and it needs to prevent all possible risks. The development of XM Cyber is interesting for Schwarz Gruppe, most likely in that it will assess the scale of the potential "attack surface" in the retailer's systems and minimize it, |  |
As for XM Cyber itself, it will maintain operational independence and its own brand, but the financial support of a large corporation will allow it to noticeably accelerate the further development of its products. Under the terms of the deal, all 110 XM Cyber employees will retain their positions.
During its existence, the company attracted investments in the amount of $49 million, 17 million of which were received in July 2021 by[1].
2016: Foundation of the company
XM Cyber was founded in 2016.
Notes
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