Germany’s Schwarz Group buys Israeli co XM Cyber for USD 700M
German retail and cloud computing company, Schwarz Group is buying XM Cyber, the Israeli hybrid cloud cybersecurity firm co-founded by former Mossad chief Tamir Pardo, for USD 700 million.
Founded in 2016, XM Cyber has developed a platform that simulates organized cyberattacks so companies can learn of the best ways to respond to them.
XM Cyber has raised USD 49 million to date from Shaul Shani, its founder and first investor, as well as former CIA director David Petraeus, Australia’s Macquarie Capital, and Nasdaq Ventures. The investors, who do not include any Israeli funds, have thus enjoyed returns of 14 times their investment.
Involved in all their financing transactions and commercial, IP, HR and tax matters, H-F & Co. advised XM Cyber and its shareholders in the transaction, handling all legal matters, including corporate, tax, employment, intellectual property, privacy and data protection.
The team included Nitzan Hirsch-Falk, Adi Gillat, Ora Templeman, Yael Bar Shtainman, Yoav Meer, Danielle Skald, Yarin Bitton, Peleg Menirav, Lee Ramati and Gal Aviram.
