Cybersecurity startup XM Cyber acquired for $700M by Schwarz Group>
Silicon Angle – Maria Deutscher
Schwarz Group, one of the worldâs largest retailers, has acquired cybersecurity startup XM Cyber Ltd. in a deal worth $700 million.

The companies announced the acquisition this morning. Following the transaction, XM Cyber will continue to operate independently and its cybersecurity platform is set to retain the current brand and support structure.

Israel-based XM Cyber provides a platform that helps organizations identify and fix cybersecurity issues in their information technology systems. The startup says its software can continuously scan an IT environment for vulnerabilities such as insecure configuration settings. Moreover, the platform is capable of launching simulated hacking attempts to test a companyâs cybersecurity posture.

The ability of XM Cyberâs platform to continuously scan for vulnerabilities makes it possible to discover issues as they arise, the startup says. The platformâs features for simulating hacking attempted promise to further improve companiesâ cybersecurity. According to XM Cyber, the simulations enable its platform to identify which of the outstanding cybersecurity issues in an environment are most urgent.

The technology that Schwarz Group is gaining through the acquisition of XM Cyber will help the retailer boost its cybersecurity capabilities. Germany-based Schwarz Group is the worldâs fourth-largest retailer, with about $140 billion in annual revenues as of last year and about 500,000 employees. The company operates the Lidl and Kaufland grocery chains, which between them have more than 12,000 stores worldwide.
Link: https://siliconangle.com/2021/11/22/cybersecurity-startup-xm-cyber-acquired-700m-schwarz-group/