Retail giant Schwarz Group has snapped up Israeli cybersecurity firm XM Cyber for an undisclosed fee.
Founded in 2016, XM Cyber is a key player in the hybrid-cloud security posture management space. The company markets an attack path management platform that enables companies to rapidly respond to cyber risks affecting their business-sensitive systems by continuously finding new exposures, such as exploitable vulnerabilities and credentials, user activities and misconfigurations.
XM Cyber also constantly simulates and prioritises attack paths putting mission-critical systems at risk, providing context-sensitive remediation options. The firm currently has offices in Israel, North America and Europe.
According to XM, the acquisition prepares Schwarz for the future challenges surrounding IT security, while for itself the deal presents ‘myriad opportunities for continued growth and accelerated innovation’.
XM will continue to operate independently and still offer its full suite of products under its current brand and support structure.
Schwarz CIO Christian Müller said, “XM Cyber brings deep technical understanding and innovation that perfectly complements our portfolio for advanced cybersecurity services. Finding and closing security gaps from an attacker’s perspective is a disruptive approach to the way organizations can proactively protect their networks. XM Cyber’s solution builds on our strong IT security to further protect our customers, partners, and ourselves as a company.”
XM Cyber co-founder and CEO Noam Erez added, “We are thrilled to become part of the Schwarz Group. With the backing and international footprint of the largest European retailer, we can accelerate innovation and growth and further strengthen our position in the global cybersecurity market. I would like to take this opportunity to thank our investors who have supported us along the journey in building this unique company.”
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