new company, CyMotive Technologies, will be 40 percent owned by
the German automaker and 60 percent by Yuval Diskin and two
former colleagues who also had senior posts in the Shin Bet.
The statement did not say how much Volkswagen would invest in
the venture, which has an office in a suburb of Tel Aviv and
will also open one in Wolfsburg, Germany.
Building on its expertise in technology, Israel has emerged as a
leader in the race to keep cars secure and prevent the nightmare
scenario of a hacker commandeering your vehicle.
International groups including Harman International Industries
and IBM have already bought local companies or invested in
"To enable us to tackle the enormous challenges of the next
decade, we need to expand our know-how in cyber security in
order to systematically advance vehicle cyber security for our
customers," said Volkmar Tanneberger, Head of Electrical and
Electronic Development at Volkswagen.
Diskin has been consulting on cyber security in the private
sector since retiring from the Shin Bet in 2011 and will serve
as CyMotive's chairman.
(Reporting by Ari Rabinovitch; Editing by Mark Potter)
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