Germany-based retail giant Schwarz Group this week announced the acquisition of security posture management company XM Cyber for $700 million.
Schwarz Group, known for brands such as Lidl and Kaufland, is the world’s fourth-largest retailer. Last year, it announced launching a cloud computing service for third-party retailers.
With the acquisition of Israel-based XM Cyber, the Schwarz Group wants to expand its cybersecurity portfolio.
The XM Cyber brand will remain and the company will continue to operate independently, but says the acquisition by the Schwarz Group will help it grow.
XM Cyber’s offering includes attack simulation, vulnerability management, cloud security posture management, and security posture visibility. The goal is to help organizations identify and address exploitable vulnerabilities, configuration issues, and other weaknesses that can be leveraged by malicious actors to breach their systems.
“XM Cyber brings deep technical understanding and innovation that perfectly complements our portfolio for advanced cybersecurity services,” said Christian Müller, CIO of Schwarz Group. “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.”