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CrowdStrike Acquires XM Cyber Technology for $600 Million, Israeli Workforce Cut
Summarized from Ynetnews by baba
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Cybersecurity giant CrowdStrike has finalized its acquisition of Israeli firm XM Cyber's technology for $600 million, comprising cash and stock. The deal has led to significant layoffs in Israel, with about 250 of XM Cyber's 300 local employees being dismissed. XM Cyber's owners and employees are expected to benefit financially from the sale, which represents the largest payment for technology assets. CrowdStrike has a history of acquiring Israeli cybersecurity companies.
The story in 6 lines · by baba
- CrowdStrike acquired XM Cyber's technology for $600 million, including cash and stock.
- Most of XM Cyber's 300 Israeli employees have been laid off as part of the deal.
- The $600 million transaction is the largest ever for technology assets, not a whole company.
- XM Cyber was previously sold to Germany's Schwarz Group for $700 million in 2021.
- XM Cyber was founded by former Mossad director Tamir Pardo and others in 2016.
- CrowdStrike has acquired multiple Israeli cybersecurity startups in recent years.
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