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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