Israeli vehicle cybersecurity company PlaxidityX (formerly Argus Cybersecurity) is preparing to lay off 65 employees, representing one third of its current workforce of 200 worldwide. Most of the layoffs will be at the company’s offices in Israel with the remaining dismissals at offices in Germany, France, the US, Japan, India, Korea and Poland.
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Employees in Israel have been notified after the past few days about hearing prior to being let go. The layoffs are part of a global streamlining plan by Aumovio, the vehicle division of German company Continental, which is holding a flotation on the Frankfurt Stock Exchange in September. PlaxidityX is expected to remain part of Aumovio but according to a source familiar with the matter, the company could be sold or spun off. The source said, “A year ago the company underwent rebranding and in recent months Continental has been working to sell the activity or separate it into an independent division.”
A glittering acquisition, an unclear future
Agrus Cyber Security was founded in 2013 by alumni of the IDF 8200 intelligence unit including the entrepreneur Ofer Ben-Noon and was acquired by Continental in 2017 for $450 million – one of the biggest exits in Israeli auto-tech. Since the acquisition, it has continued to operate as an independent division, and is now considered one of the three leading companies in the world in the field of automotive cybersecurity.
The company currently protects 72 million vehicles worldwide, holds 80 registered patents, and leads hundreds of projects with dozens of global automakers. In 2024, it signed partnerships with key players such as Microsoft, Vodafone Automotive, dSPACE, and AVL. Despite the layoffs, a company source emphasizes that “Aumovio is committed to the success of PlaxidityX and continues to support it financially.”
The move comes following tighter regulation in the automotive cybersecurity field, including European standards that came into effect in 2022, and statements by the Trump administration about the need to protect code originating from countries like China and Russia.
Published by Globes, Israel business news – en.globes.co.il – on July 23, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
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