According to reports, Germany’s Continental AG is in advanced talks to buy Israel’s Argus Cyber Security for $400 million.

Photo credit: Reuters/Channel 2 News

The Israeli company Argus Cyber Security is reportedly in advanced talks to be sold to Germany’s Continental AG for about $400 million.

Argus is one of the first companies in the world to protect connected cars from hacking. Nearly all car models nowadays are equipped with WiFi and it is estimated that hundreds of millions of cars will be connected in a few years’ time.

The company, which was founded in 2013 by three IDF Intelligence Corps veterans, provides its services to most major car companies around the world. Its headquarters in Tel Aviv has about 70 employees. It also has offices in the US, Germany and Japan.