European retailer Schwarz Group acquired Israeli cybersecurity firm XM Cyber for $700M. XM Cyber simulates attacks to help its customers identify and fix vulnerabilities.
- XM Cyber said it doubled its customer base last year to an undisclosed amount.
- The company has raised $49M since its inception in 2016, according to Crunchbase.
- It was founded by Tamir Pardo, the former director of Israel's national intelligence agency Mossad.
- Pardo said the acquisition would provide XM with additional resources to expand into unnamed international markets and grow its product offering.