Continental acquires Israeli startup, Argus Cyber Security
German automaker Continental AG has recently branched out from its usual area of expertise, acquiring Argus Cyber Security, an Israeli cybersecurity startup.
Although the acquisition somewhat diversifies Continental’s current portfolio, the company still plans to use Argus in its current operations.
The startup is set to become part of Continental’s subsidiary, Elektrobit – the company’s supplier of imbedded software solutions within the automotive industry.
“Only secure mobility is intelligent mobility,” said Helmut Matschi, Member of the Executive Board at Continental and head of the Interior division. “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.”
With connectivity and automation being some of the key areas of industry innovation, software is increasingly playing a significant role within vehicles. As a result, in order to ensure safety within vehicles, there is a greater need for automotive cybersecurity.
“By 2020, hundreds of millions of these “computers on wheels” will drive on roads worldwide and communicate as part of the Internet of Everything,” Argus said in a release. “On the downside of this development, connected mobility is turning into a potential target for cyber-attacks, posing risk to human lives and property.”
Together, Argus and Elektrobit will cooperate to offer security solutions and services for vehicles, protecting against cyber threats whilst also providing management and health monitoring via its centre of operations.
“With automotive cyber security regulations in the making worldwide and with already millions of connected cars on the road, I can’t think of a better time, or a more exciting move, than now to become part of EB,” said Ofer Ben-Noon, Co-founder and CEO of Argus. “Together we will shorten time to market and make it easier for vehicle manufacturers to protect their vehicles from cyber attacks.”