CrowdStrike Buys Israeli Cyber Firm's Tech for $600 Million
Translated & summarized from NEWSru Israel by baba
CrowdStrike is acquiring the intellectual property of Israeli-German cybersecurity firm XM Cyber for $600 million. XM Cyber, co-founded by former Mossad chief Tamir Pardo, was previously sold to Germany's Schwarz Group for $700 million. Most employees will remain with Schwarz Group, while XM Cyber faces reorganization and staff reductions, with all employees receiving option payouts and bonuses.
The story in 6 lines · by baba
- CrowdStrike is acquiring XM Cyber's intellectual property for $600 million.
- XM Cyber was co-founded by former Mossad chief Tamir Pardo.
- The company was previously sold to Germany's Schwarz Group for $700 million.
- Most XM Cyber employees will remain with Schwarz Group.
- XM Cyber will undergo reorganization and staff reductions.
- All employees will receive payouts for stock options and retention bonuses.
American cybersecurity firm CrowdStrike is acquiring the intellectual property of Israeli-German company XM Cyber for $600 million. XM Cyber was co-founded by Tamir Pardo, the former head of Israel's Mossad intelligence agency, though he is no longer with the company. Five years ago, XM Cyber was sold to Germany's Schwarz Group for $700 million.
Under the terms of the new deal, XM Cyber's clients and revenue will remain with the company. Most employees, including co-founders CEO Noam Erez and CTO Boaz Gorodissky, will stay with Schwarz Group, while only a small portion of personnel will transfer to CrowdStrike. XM Cyber anticipates a reorganization and staff reduction in the near future.
All employees will receive payouts for their stock options, valued collectively at tens of millions of dollars. Remaining employees will also receive retention bonuses.
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