Biggest cyber-security acquisition since 2013

Israeli vehicular cyber-security company in advanced negotiations on acquisition by German company for $500m. in largest exit since 2013.

Mordechai Sones ,

Cyber-security
Cyber-security
iStock

The Israeli company Argos, which deals with information security for vehicles, is in advanced negotiations for its acquisition by Continental of Germany in the amount of a half-billion dollars, reports Mako News. If the deal actually takes place it will represent the biggest exit in cyber security since 2013, when Traverse was acquired by IBM.

Argos is involved in car cyber-security, a field that has become particularly relevant as more and more cars are connected to the Internet. Tens of millions of vehicles are already connected to the network, and this number is expected to climb to hundreds of millions within a few years. In recent years, almost no car company hasn't been attacked by hackers to prove that cars are vulnerable to such damage.

Israeli is considered the greatest in the world in this field and holds many patents. In recent years it has won numerous awards, and its customers include most of the world's automotive manufacturers as well as large fleet operators.

The company was set up in 2013 by three former officers in the 8200 unit, the army's elite intelligence unit - Ofer Ben-Nun, Yaron Galula, and Oron Lavi - and a fourth partner, Zohar Zisapel, the company's chairman. The company is located in Tel Aviv and employs 70 people. It has offices in the US, Germany, and Japan.




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