Friday, November 3, 2017

Continental acquires Argus Cyber Security

Continental has acquired Argus Cyber Security (Argus), a start-up focused on vehicle cyber security. Financial terms were not disclosed.

Argus, which was founded in 2013, is headquartered in Tel Aviv, Israel and has a team of more than 70 people. The company has 38 granted and pending patents in the area of cyber security for automobiles.

Continental said the acquisition the acquisition will help it to better address the needs of vehicle manufacturers and suppliers around the world in defining and implementing strategies and countermeasures to minimize the exposure of vehicles to cyber risks. The goal is to provide multi-layered, end-to-end security 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. The companies will also provide software updates over-the-air solutions.

Argus will be a part of EB, Continental's stand-alone software company and will continue to engage in commercial relations with all automotive suppliers globally.

"Only secure mobility is intelligent mobility. With the acquisition of Argus Cyber Security we are enhancing our abilities to directly develop and offer solutions and services with some of the world's leading automotive cyber security experts to our customers around the globe in order to truly make mobility more intelligent and secure," says Helmut Matschi, member of the Executive Board at Continental and head of the Interior division.

"Argus was founded with a vision to protect all vehicles on the road from cyber threats. To this end we have developed the most comprehensive automotive cyber security offering in the industry and enjoy global recognition of our leadership. Joining forces with Continental and EB will enable us to further accelerate the realization of that vision," says Ofer Ben-Noon, Co-Founder and CEO of Argus Cyber Security.

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