LG acquires Israeli automotive cybersecurity startup Cybellum>
ZD Net – Cho Mu-Hyun
LG Electronics said on Thursday it has acquired Israeli automotive cybersecurity startup Cybellum.

Tel Aviv-based Cybellum was founded in 2016 and offers a risk assessment software that can scan software on vehicle components for vulnerabilities and risks.

The South Korean electronics maker signed a deal with the startup to acquire 63.9% of its shares. LG will also acquire additional shares of Cybellum by the year’s end, with the amount to be finalised then.

LG has also signed an additional contract, worth $20 million, with the startup for future equity that will see the funds be converted to more shares from the end of 2022 to the first half of 2023.

Through Cybellum’s solutions, LG will look to beef up the security systems on its automotive offerings in the areas of infotainment and telematics, the company said, to preempt security regulations in various countries and become a reliable partner to automobile manufacturers.
Link: https://www.zdnet.com/article/lg-acquires-automotive-cybersecurity-startup-cybellum/