Lidl parent Schwarz Group has strengthened cybersecurity across its digital business in Germany by introducing solutions from XM Cyber.
Currently, cybercrime accounts for annual damage of more than €220 billion to the German economy, or about twice as much as two years ago.
Companies of all sizes, operators of critical infrastructure, and also public administrations are permanently at risk from potential ransomware attacks, attacks on websites and communications, and targeted attacks on vulnerabilities in IT products, Schwarz Group noted.
In November of 2021, Schwarz Group acquired XM Cyber, an Israel-based cybersecurity company.
'Significant Security Advantage'
Rolf Schumann, CEO of Schwarz Digital, stated, "With the acquisition of XM Cyber, Schwarz Group reacted early to the increased cyber threat situation. We realise that XM Cyber customers enjoy a significant security advantage due to the unique protection this technology offers.That's why we are now establishing the offering on a large scale in the German and European markets."
Solutions offered by XM Cyber allow companies to envision their IT products from the point of view of cybercriminals and identify vulnerable areas in the system.
“It doesn't matter whether we are dealing with local infrastructures or hybrid cloud systems. Possible attack paths are detected and cut off by XM Cyber," explained Christian Müller, CEO of Schwarz IT.
Additional Security
XM Cyber also provides additional security by having its technology constantly tested by Fraunhofer Institute.
The technology firm also announced the acquisition of Cyber Observer, another Israel-based business, offering a platform for cloud security and monitoring.
The acquisition complements XM Cyber's existing offering and is a logical evolution of its cybersecurity suite.
Recently, ministers from the G7 countries announced measures to strengthen cybersecurity at their meeting in Düsseldorf and called for intensive involvement of companies.
"Cybersecurity is more important than ever in view of the massive increase in security risks worldwide - for us, this step means the consistent technological further development of our digital offering," Schumann added.
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