Continental is reportedly in advanced talks over a $400m acquisition of Magna and Allianz-backed in-car cybersecurity technology provider Argus.
Automotive components producer Continental has entered advanced talks to acquire Argus Cyber Security, an Israel-based connected car security technology developer backed by auto parts provider Magna and insurer Allianz, Reuters reported today.
The prospective deal would value Argus, which has raised about $30m in venture capital, at about $400m, according to local media reports.
Founded in 2013, Argus is developing cybersecurity software that will protect telematics and infotainment systems in connected cars from being hacked, and reinforces in-vehicle technologies such…
