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German retail and cloud computing company Schwarz Group has announced the acquisition of Israeli cyber security company XM Cyber for USD 700 million. XM Cyber will continue to operate independently and offer its products under its current brand and support structure. XM Cyber president Tamir Pardo is the former head of the Mossad and XM stands for ex-Mossad, the co-founders being Israeli intelligence community veterans Noam Erez and Boaz Gorodissky.
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