Israeli automobile cybersecurity firm PlaxidityX (previously Argus Cybersecurity) is getting ready to put off 65 staff, representing one third of its present workforce of 200 worldwide. A lot of the layoffs might be on the firm’s workplaces in Israel with the remaining dismissals at workplaces in Germany, France, the US, Japan, India, Korea and Poland.
RELATED ARTICLES
Workers in Israel have been notified after the previous few days about listening to previous to being let go. The layoffs are a part of a world streamlining plan by Aumovio, the automobile division of German firm Continental, which is holding a flotation on the Frankfurt Inventory Change in September. PlaxidityX is anticipated to stay a part of Aumovio however in accordance with a supply acquainted with the matter, the corporate may very well be offered or spun off. The supply stated, “A 12 months in the past the corporate underwent rebranding and in current months Continental has been working to promote the exercise or separate it into an impartial division.”
A glittering acquisition, an unclear future
Agrus Cyber Safety was based in 2013 by alumni of the IDF 8200 intelligence unit together with the entrepreneur Ofer Ben-Midday and was acquired by Continental in 2017 for $450 million – one of many largest exits in Israeli auto-tech. Because the acquisition, it has continued to function as an impartial division, and is now thought of one of many three main corporations on this planet within the area of automotive cybersecurity.
The corporate at the moment protects 72 million autos worldwide, holds 80 registered patents, and leads a whole lot of initiatives with dozens of worldwide automakers. In 2024, it signed partnerships with key gamers similar to Microsoft, Vodafone Automotive, dSPACE, and AVL. Regardless of the layoffs, an organization supply emphasizes that “Aumovio is dedicated to the success of PlaxidityX and continues to assist it financially.”
The transfer comes following tighter regulation within the automotive cybersecurity area, together with European requirements that got here into impact in 2022, and statements by the Trump administration about the necessity to defend code originating from nations like China and Russia.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 23, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
