cybellum: LG acquires automotive cybersecurity startup Cybellum – Times of India
LG Electronics has acquired cybersecurity risk assessment firm Cybellum. The deal allows LG to assume an approximate 64% stake in the tech company valued at $140 million, this move is aimed to enhance LG’s cybersecurity capabilities. Founded in 2016 in Tel Aviv, Cybellum delivers its products to vehicle manufacturers and suppliers globally. In addition to Israel, the company has operations in Japan, Germany and North America. It will remain an independent entity and brand and help LG in parts design, development and operation.
One of the company’s most advanced solutions to protect vehicles from cybersecurity threats is its Cyber Digital Twins platform. It creates a detailed representation of a vehicle’s software components without accessing the source code and automatically exposes any risks that could potentially be exploited. The platform relies on real-time threat intelligence feed to check for vulnerabilities and delivers a full assessment of those vulnerabilities along with solutions.
This is the first acquisition for LG in Israel and the cybersecurity domain. Previously, the company acquired Austrian automotive lighting company ZKW Group.
With the number and type of cybersecurity threats on the rise and the global automobile industry transitioning to the connected car era where secure connectivity is essential, the need for better vehicle cybersecurity has never been greater. Vehicle cybersecurity will only become more important over time as cars evolve into organically connected systems with complex interrelationships between their various components.
“We’re excited about this partnership with LG and the great return we’ve been able to deliver to our stakeholders,” said Slava Bronfman, CEO of Cybellum. “Cybellum has developed the most comprehensive product security management offering in the industry and joining forces with LG will enable us to further accelerate the realization of our vision. We expect to grow significantly in the near future.” said Kim Jin-yong, president, LG Electronics Vehicle component Solutions Company.
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