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Israeli Cybersecurity Firm XM Cyber Sells IP to CrowdStrike for $600 Million
Israeli cybersecurity firm XM Cyber is selling its intellectual property to U.S. company CrowdStrike for about $600 million. This is XM Cyber's second major exit in four years, having been acquired for $700 million in 2021. The deal involves only the technology, with XM Cyber retaining its customers and revenue.
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What happened
- 01XM Cyber, an Israeli cybersecurity firm, is selling its IP to CrowdStrike for approximately $600 million.
- 02This is XM Cyber's second major exit in four years, following a $700 million acquisition in 2021.
- 03The deal focuses exclusively on technology, with XM Cyber retaining its customers and revenue.
- 04XM Cyber was founded by former Mossad chief Tamir Pardo and intelligence community veterans.
- 05Employees will share in the exit proceeds, with significant distributions and retention incentives planned.
- 06XM Cyber's technology will be integrated into CrowdStrike's FALCON platform.
The company, founded by former Mossad chief Tamir Pardo and intelligence alumni, will reorganize its workforce and distribute profits to employees.
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