LG Electronics, the Korean tech giant that was once a leader in mobile phones and smartphones but exited the industry, recently completed a deal with Israeli startup Cybellum, a specialist in automotive cybersecurity and problem detection in vehicle services and hardware, for a value of $240 million.
Cybellum was set up in 2016 by cybersecurity specialists and has experienced rapid growth. They already have clients such as Nissa, Land Rover and Jaguar, and have also partnered with Toyoya, Tsusho, PTC and Harman.
LG is committed to developing for autonomous driving solutions, and has built its own Driver Monitoring System (DMS) and Interior Monitoring System (IMS), which are primarily intended to help reduce error.
"It is an established fact the importance that software plays in the automotive industry, and from this comes the need for effective cybersecurity solutions," noted LG Electronics Vehicle Components Solutions Company President Dr. Kim Jin-yong.
Cybellum's technology and LG's subsequent acquisition of the company set some trends in the world of connected cars and cybersecurity.
It is increasingly important to create solutions that ensure security in the area of connected vehicles, since they are a major trend and could be the target of attacks by cybercriminals. One of the main challenges facing the smart car area is maintaining security, and perhaps Cybellum's system could be a solution.