Schwarz Group, the parent company of Lidl and Kaufland, has stepped up its cyber security credentials with the acquisition of Israeli business XM Cyber.
The retailer said that the acquisition enables it to 'prepare for future challenges regarding IT security', in an environment in which ransomware and other cyber attacks are becoming more commonplace.
Retailer Coop Sweden saw its checkout systems disabled following a cyber attack during the summer, while Spanish beer maker Damm was forced to halt output in Barcelona following a similar attack earlier this month.
'Critical Attack Paths'
Working alongside XM Cyber, Schwarz Group said that it will be able to discover 'critical attack paths across on-premises and multi-cloud networks', thereby enabling it to close any security gaps before systems are compromised.
Following the acquisition, XM Cyber will continue to operate independently, supporting its global customer base.
"XM Cyber brings deep technical understanding and innovation that perfectly complements our portfolio for advanced cybersecurity services," commented Christian Müller, chief information officer at Schwarz Group.
"Finding and closing security gaps from an attacker's perspective is a disruptive approach to the way organisations can proactively protect their networks. XM Cyber's solution builds on our strong IT security to further protect our customers, partners, and ourselves as a company."
Elsewhere, XM Cyber CEO Noam Erez said that teaming up with Schwarz Group means that the business "can accelerate innovation and growth and further strengthen our position in the global cybersecurity market".
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