HANOVER, Germany and TEL-AVIV, Israel, Nov. 3, 2017 /PRNewswire/ -- In order to further strengthen and enhance its capabilities in automotive cyber security, the technology company Continental is acquiring Argus Cyber Security (Argus), one of the global leaders in this domain.
Vehicles are becoming increasingly connected and software is the single biggest innovation enabler for intelligent, efficient and automated mobility. By 2020, hundreds of millions of these "computers on wheels" will drive on roads worldwide and communicate as part of the Internet of Everything. On the downside of this development, connected mobility is turning into a potential target for cyber-attacks, posing risk to human lives and property. In response, vehicle manufacturers and suppliers around the world are defining and implementing strategies and countermeasures to minimize the exposure of vehicles to such risks.
"Only secure mobility is intelligent mobility. 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," says Helmut Matschi, member of the Executive Board at Continental and head of the Interior division.
Multi-layered, end-to-end security solutions and services
Founded in 2013 by Israeli cyber security experts, Argus is headquartered in Tel Aviv, Israel, has a team of more than 70 people and the most comprehensive, market-ready solution suites in the industry, based on 38 granted and pending patents.
To help vehicle manufacturers rapidly respond to the growing need for cyber security solutions, Argus has forged significant collaborations with key industry players and is successfully delivering projects to vehicle manufacturers and suppliers worldwide. Argus also has representations in Japan, Germany and North America (Detroit and West Coast).
Together, the companies will offer multi-layered, end-to-end security solutions and services including intrusion detection and prevention, attack surface protection and fleet cyber security health monitoring and management via a security operations center (SOC) to protect vehicles in the field over their entire lifespan. The companies will also provide software updates over-the-air solutions. Argus' technology was tested by vehicle manufacturers, their suppliers and independent third parties, and has repeatedly out-performed its competitors.
"Argus was founded with a vision to protect all vehicles on the road from cyber threats. To this end we have developed the most comprehensive automotive cyber security offering in the industry and enjoy global recognition of our leadership. Joining forces with Continental and EB will enable us to further accelerate the realization of that vision," says Ofer Ben-Noon, Co-Founder and CEO of Argus Cyber Security. "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. Together we will shorten time to market and make it easier for vehicle manufacturers to protect their vehicles from cyber-attacks," Ben-Noon continues.
Boosting Security at Continental's software company Elektrobit
Argus will become a part of EB, Continental's stand-alone software company and will continue to engage in commercial relations with all automotive suppliers globally. This combination of Continental's broad automotive know-how, Argus' technology, market-ready solutions and expertise in automotive cyber security, and EB's deep automotive software knowledge, marks a unique cooperation in the automotive industry.
"As we are experiencing a world of software-defined vehicles and face unique challenges, we are taking a proactive approach in developing new ways to collaborate and interact. EB and Argus have been partners in developing cyber-security and over-the-air software update solutions since 2016. Adding Argus to our portfolio will allow us to further advance the development of our software," says Alexander Kocher, President and Managing Director, EB.
"We are now offering to the automotive industry - carmakers and suppliers alike - a complete secure solution for the development of highly automated and connected driving. This will enable them to develop safer, smarter and more efficient vehicles," Kocher continues.
Argus, the global leader in automotive cyber security, provides comprehensive and proven solution suites to protect connected cars and commercial vehicles against cyber-attacks. Ranked number one in third-party evaluations, Argus technologies are built on dozens of pending and granted automotive patents that illustrate innovative security methods, proven computer networking know-how and decades of experience in both cyber security and the automotive industry. Argus customers include the world's largest OEMs and Tier 1 suppliers and partners include leading industry players. Founded in 2013, Argus is headquartered in Tel- Aviv, Israel, with offices in Michigan, Silicon Valley, Stuttgart and Tokyo.
Visit www.argus-sec.com to learn more.
Argus has won multiple industry awards and public recognition from top tier technology publications and analysts, including: "Top 25 Technology Company to Watch" by The Wall Street Journal, one of "Top Three Automotive Startups" at the LA Auto Show 2016, one of "20 Tech Innovators to Watch in 2018" by Inc. and was recognized by Wired as "One of Top 100 Hottest European Startups" for 2016.
Continental develops pioneering technologies and services for sustainable and connected mobility of people and their goods. Founded in 1871, the technology company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transport. In 2016, Continental generated sales of €40.5 billion and currently employs more than 230,000 people in 56 countries.
Information management in and beyond the vehicle is at the very heart of the Interior division. The product portfolio for different types of vehicles includes: instrument clusters, multifunctional and head-up displays, control units, access control and tire-information systems, radios, infotainment systems, input devices, control panels, climate control units, software, cockpits as well as services and solutions for telematics and Intelligent Transportation Systems. The Interior division employs more than 43,000 people worldwide and generated sales of €8.3 billion in 2016.
About Elektrobit (EB)
Elektrobit (EB) is an award-winning and visionary global supplier of embedded and connected software solutions and services for the automotive industry. A leader in automotive software with over 25 years serving the industry, EB's software powers over 70 million vehicles and offers flexible, innovative solutions for connected car infrastructure, human machine interface (HMI) technologies, navigation, driver assistance, electronic control units (ECUs), and software engineering services. EB is a wholly owned subsidiary of Continental. For more information, visit us at www.elektrobit.com
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