Automotive Cybersecurity Company Argus Plans to Double Employee Count in 2018
In November 2017, Israel-based Argus was bought by German car part manufacturer Continental AG
Israel-headquartered automotive cybersecurity company Argus Cyber Security Ltd. intends to double its employee count in 2018, the company's co-founder and CEO Ofer Ben-Noon said Thursday.
For daily updates, subscribe to our newsletter by clicking here .
Founded in 2013, Argus develops software that detects and prevents digital interferences with critical auto systems by monitoring in-car communications. The company currently employs around 80 people in several global offices, Mr. Ben-Noon said speaking at an investor summit by equity crowdfunding firm OurCrowd held in Jerusalem.
In November 2017, Argus was bought by German car part manufacturer Continental AG for an undisclosed sum. Argus became an independent subsidiary of Elektrobit Automotive Group, a stand-alone company Continental acquired from Elektrobit Corporation in 2015.
Operating as an independent business unit, Argus sells its software not only to Continental clients but also to clients working with Continental competitors, including Delphi Automotive PLC and Bosch GmbH, Continental vice president Werner Koestler said, speaking at the event.
"A little over a year ago Argus and Continental started a partnership, combining Argus' software and Continental's hardware," Mr. Ben-Noon said. "What we've found is that what we can create together is bigger than what we can create alone."