US tech giant Microsoft announced Monday it is set to acquire Israeli security startup CyberX for an undisclosed amount. The transaction is expected to help boost the security capabilities of Microsoft’s Azure IoT platform.
“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” wrote Michal Braverman-Blumenstyk and Sam George, Microsoft corporate vice presidents, in a blog post. “With CyberX, customers can discover their existing IoT assets, and both manage and improve the security posture of those devices.”
The acquisition arrived after months of speculation that Microsoft would buy the security startup. To date, terms of the deal were not disclosed. However, in May, Israeli news outlet Globes reported that Microsoft was in talks to purchase CyberX for $165 million.
The deal will grant Microsoft additional technology that will help further its IT services and cybersecurity. Officials of the US tech giant also revealed that they plan to integrate CyberX with Microsoft’s set of IoT security products.
“With CyberX, customers can discover their existing IoT assets, and both manage and improve the security posture of those devices. With CyberX, customers can see a digital map of thousands of devices across a factory floor or within a building and gather information about their asset profile and vulnerabilities,” Braverman-Blumenstyk and George added.
Founded in 2013, CyberX operates as an Internet of Things (IoT) security vendor. Specifically, its technology allows customers to monitor their security state and connectivity by viewing digital maps of devices across wider physical footprints, such as factory floors or buildings.
“Nir and I founded CyberX with the goal of delivering a scalable solution that would be easy to deploy and reduce risk for enterprises worldwide,” said Omer Schneider, co-founder, and CEO of CyberX, in a blog post. “We’re thankful to our loyal customers and partners as well as to our dedicated employees whose innovation and hard work made it possible for us to reach this important milestone, and also to our investors for their ongoing support.”
To date, CyberX houses over 150 employees. The startup also previously raised $47 million from investors, including Qualcomm Ventures and Norwest Venture Partners, Crunchbase reported.
“By joining forces with Microsoft, we will rapidly scale our business and technology to securely enable digital transformation for many more organizations. Together, CyberX and Microsoft provide an unbeatable solution for gaining visibility and a holistic understanding of risk for all IoT and OT devices in your enterprise,” Nir Giller, CTO of CyberX added.
