XM Cyber co-founders. (Yoram Reshef)
Cyber Observer, an Israeli cyber security startup in Continuous Controls Monitoring (CCM) and Cloud Security Posture Management (CSPM), was acquired by XM Cyber, a company that provides hybrid cloud security. The purchase price was not disclosed and the acquisition comes just seven months after XM Cyber was itself bought out by Schwarz Group for $700 million seven months ago.
Cyber Observer’s platform will be integrated into XM Cyber’s. This, say the companies, will enable a “universal, continuous view of the exposures and weaknesses that put critical assets at risk, as well as the security control gaps that fail to prevent attacks. It will also automate compliance validation and reporting for key standards like ISO, NIST, GDPR, SWIFT and PCI, amongst others.”
Founded in 2012, Cyber Observer is a continuous end-to-end cybersecurity posture management platform. The platform reduces business losses and audit costs by leveraging technology that performs ongoing monitoring and auditing using Continuous Controls Monitoring.
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Founded by Noam Erez, Boaz Gorodissky, and former Mossad Director Tamir Pardo, XM Cyber calls itself a leading hybrid cloud security company that is changing the way innovative organizations approach cyber risk.
“Even as awareness of cybersecurity risk continues to grow, attackers are thriving and routinely exploiting attack paths that can be used to move laterally through an enterprise network,” said Noam Erez, co-founder and CEO, XM Cyber. “Our goal is to give security teams the ability to easily understand and correct their security posture on a continuous basis, including weaknesses, exposures and compensating security controls across the full internal and external attack surface covering on-prem, cloud and SaaS systems. This acquisition is not an isolated event, but just the latest step in our strategy to provide the most comprehensive and proactive security posture management platform on the market.”
Schwarz Group is the fourth largest retailer in the world and a growing force in cloud computing. The company has grown rapidly in the digital space in recent years with its creation of a European cloud. In November 2021, Schwarz acquired XM Cyber as its cyber arm. Since then, XM Cyber has extended its portfolio of solutions, expanded its workforce globally, and increased its customer base. Schwarz’s strong financial stability and broad digital vision are a force multiplier for growth and innovation.
“Cyber Observer’s patented continuous controls monitoring capabilities are a perfect complement to XM Cyber’s award-winning hybrid cloud security platform,” said Shimon Becker, co-founder and CEO, Cyber Observer. “We are excited about this opportunity and look forward to working with the XM Cyber team to deliver the first end-to-end continuous cyber security posture management solution supporting both cloud and on-premises coverage.”
