German firm acquires ex-Mossad chief’s cybersecurity startup for $700m | Times of Israel

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XM Cyber, an Israeli software company, co-founded by former Mossad leader Tamir Pardo, is being bought for $700 million by Germany’s Schwarz Group, a multinational retail conglomerate with $140 billion in annual revenue. According to the official statement, XM Cyber will keep operating freely and provide its services under its present brand and support network. The Schwarz Group, Europe’s largest retailer, owns Lidl and Kaufland, two large grocery stores. Last year, the multinational announced that it was developing its own cloud computing platform for retailers, dubbed Stackit, to compete with AWS (Amazon Web Services), Microsoft, and other huge cloud providers. 

Source: https://www.timesofisrael.com/german-firm-acquires-ex-mossad-chiefs-cybersecurity-startup-for-700m/ 

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