FINMES reports: Continental, a Hanover, Germany-based developer of technologies and services for sustainable and connected mobility of people and their goods, is acquiring Argus Cyber Security, a Tel Aviv, Israel-based automotive cyber security company. The amount of the deal was not disclosed.
The acquisition will allow Continental to further strengthen and enhance its capabilities in automotive cyber security. Together, the companies will offer multi-layered, end-to-end security solutions and services including intrusion detection and prevention, attack surface protection and fleet cyber security health monitoring and management via a security operations center (SOC) to protect vehicles in the field over their entire lifespan. They will also provide software updates over-the-air solutions.
Founded in 2013 by Ofer Ben-Noon, CEO, Argus provides an automotive cyber security solution (based on 38 granted and pending patents) to protect connected cars and commercial vehicles against cyber-attacks. Customers include OEMs and Tier 1 suppliers and partners include leading industry players. The company has a team of more than 70 people in Tel Aviv, Michigan, Silicon Valley, Stuttgart and Tokyo.
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