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IoT Security and Protecting Connected Cars

Ever imagined on owning a car that can drive by itself; that not just determines the fastest route for you through its navigation system, but also finds the most fuel efficient one; that automatically registers for its servicing and renews its insurance; that is smart enough to prevent accidents by assessing driver’s vital functions and alerting the travelers of the potential problems; that drives on its own through traffic jams and highways. Yes, it is no more just a dream car. This disruption is already in progress through the integration of Internet of Things.

We call these cars as ‘Connected Cars’. A connected car is a car that is equipped with Internet access (wireless and LAN) that can be shared with other devices both inside as well as outside the vehicle. These cars are often outfitted with special technologies that tap into the internet or wireless LAN and provide additional benefits to the driver. Examples include, automatic notification of crashes, notification of speeding and safety alerts.

Unfortunately, all these sub-systems are not protected from any kind of hacking. Hence, it is a piece of cake for any hacker who has the ingenuity and talent to hack into these cars and dilute the system. For example, a hacker can apply brakes through wireless technologies when the car is moving, without the knowledge of the driver. It is not very hard to imagine the tremendous damage this act will cause when a car is in motion and suddenly stops without the knowledge of the driver knowing.



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M&A, OEM-action and regulation in Automotive Cyber Security in 2016

Key events in the Automotive Cyber Security Market in Jan 2016

Jan 6 | Harman acquiring TowerSec for an estimated $70-75 million
Jan 6 | GM launched a cybersecurity bug bounty program
Jan 5 | NHTSA ends 5-month investigation on Fiat-Chrysler’s automotive radios
Jan 15 | USDOT, NHTSA and 16 major automakers to announce voluntary agreements on cybersecurity, recalls, defect reporting and proactive safety


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Harman acquires Red Bend Software for $200m

Software management technology company Red Bend is based in Hod Hasharon.

Veteran Israeli company Red Bend Software was sold today for $170 million in cash and shares, and a further $30 million in milestone performance payments by 2017. The buyer is US company Harman International Industries Inc. (NYSE: HAR), which makes vehicle entertainment and information systems. Harman’s market cap is $6.7 billion.


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Harman acquires Israeli co TowerSec for $70m

Kfar Saba company has developed real-time, embedded software cyber security products to protect vehicles from hacking.

US connected car systems company Harman International Industries Inc. (NYSE: HAR) has acquired Israeli automotive cyber security company TowerSec. No financial details about the deal were disclosed but market sources believe that Harman is paying $70-75 million. Headquartered in Ann Arbor, Michigan, Internet-of-Things company TowerSec has its development center in Kfar Saba.


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Bosch in talks to buy Red Bend Software

The talks are believed to give the Israeli company a value of $200-250 million.

German electronics giant Bosch GmbH is in talks to buy veteran Israeli company Red Bend Software. Details about the company’s valuation in the talks have not been disclosed but it is believed that the $200-250 million price tag in 2012 when Red Bend had protracted sale talks with IBM is unlikely to have changed much.


Check out the full article HERE