Schwarz Group acquired stake in XM Cyber. The Schwarz Group is world’s fourth-largest retailer and a growing player in cloud computing. The firm is preparing for future IT security issues with this acquisition. This gives a plethora of chances for XM Cyber to continue to expand and innovate at a faster pace.
XM Cyber will continue to run independently, providing its full suite of products under its existing brand and support structure, and will remain committed to providing great service to its global clientele.
With the rise of digitization, protecting emerging ecosystems has never been more important. Cyber-attacks, such as the entry of ransomware into a company’s IT infrastructure, can be devastating. XM Cyber offers a new technique to proactively preventing cyber-attacks by looking at things from the attacker’s point of view. It assists enterprises in cost-effectively closing security gaps before systems are compromised by detecting important attack pathways across on-premises and multi-cloud networks. The Schwarz Group’s deep understanding of protecting complicated hybrid cloud networks is also an important part of this strategic acquisition.
“XM Cyber brings deep technical understanding and innovation that perfectly complements our portfolio for advanced cybersecurity services. 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. “The cooperation with XM Cyber additionally complements the security components of the digital business models of the Schwarz Group. “We permanently extend our range of digital products for our customers, like for example our online shops, our marketplace, or our loyalty programs,” says Rolf Schumann, Chief Digital Officer at Schwarz Group. “With the solutions of XM Cyber, we offer our customers even more services and evolve the shopping and customer experience in a more holistic way,” says Christian Müller, Chief Information Officer of Schwarz Group.
For XM Cyber, this strategic partnership offers immense potential to further expand and develop its business model. “We are thrilled to become part of the Schwarz Group. With the backing and international footprint of the largest European retailer, we can accelerate innovation and growth and further strengthen our position in the global cybersecurity market. I would like to take this opportunity to thank our investors who have supported us along the journey, including Swarth Group, Macquarie Capital, Nasdaq Ventures, and Jerry Schwartz, amongst others. A special thanks to Shaul Shani, our co-founder, who was the first to believe in our vision and ability to execute and invested the initial seed funding which allowed us to build this unique company,” says Noam Erez, XM Cyber co-founder, and CEO.