Microsoft acquires IoT security company CyberX2020-06-24 16:39 by Daniela
Tags: Microsoft, CyberX, IoT
Microsoft today announced it is buying CyberX, developer of a platform to protect industrial control systems. Terms of the deal weren't disclosed, but TechCrunch reports it's around $165 million.
The deal follows plans announced by Microsoft in 2018 to invest $5 billion in IoT by 2022. The acquisition of CyberX, the companies said, will help solve security challenges for connected IoT devices in IT and industrial networks.
"CyberX will complement the existing Azure IoT security capabilities and extends to existing devices, including those used in industrial IoT, operational technology, and infrastructure scenarios," said Microsoft's cloud and AI security CVP Michal Braverman-Blumenstyk and Azure IoT CVP Sam George in a blog post. "With CyberX, customers can discover their existing IoT assets and both manage and improve the security posture of those devices."
At that point, the acquisition of CyberX and vision of Microsft complement each other because CyberX works with major energy utilities, telecom carriers, chemical producers, other industrial companies and the company applies its technology with behavioral analytics, AI-based techniques to continuously monitor network activity and detect anomalies that could indicate breaches.
Prior to its acquisition, CyberX had raised $47 million in venture capital funding, and investors included Norwest Venture Partners, Qualcomm Ventures, Inven Capital, Glilot Capital Partners, Flint Capital, and OurCrowd.
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