Why Lidl is buying a cybersecurity company

Lidl logo on a branch

The risk of becoming a victim of hacker attacks is also high for retail chains.

(Photo: imago images / Hanno Bode)

Dusseldorf Electronics retailers Media Markt and Saturn were not prepared for this attack. Hackers had paralyzed important parts of their IT and frozen masses of data. Central functions such as collecting goods ordered online from the store were affected. Only since the end of last week – almost two weeks after the attack – at least all customer services have been working again.

More and more retailers are falling victim to such criminal attacks by hackers who hijack data in order to extort money. Europe’s largest retail group is now going on the offensive: The Schwarz Group, with its subsidiaries Lidl and Kaufland, is participating in an IT security company that specializes in defending against such attacks.

Schwarz has taken over the majority in the Israeli IT security company XM Cyber. The purchase price is said to be $ 700 million, but the companies have not confirmed this.

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