- Microsoft Corporation (NASDAQ: MSFT) has confirmed that it is buying CyberX in order to accelerate and secure Internet of Things deployment
Microsoft Corporation (NASDAQ: MSFT) has confirmed that it is buying CyberX in order to accelerate and secure Internet of Things deployment. CyberX is especially known for detecting and predicting security breaches on the Internet of Things networks. The terms of the deal were undisclosed. But according to TechCrunch’s sources, the deal was somewhere in the ballpark of $165 million.
“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. With CyberX, customers can discover their existing IoT assets, and both manage and improve the security posture of those devices,” wrote Michal Braverman-Blumenstyk, CVP, CTO, Cloud + AI Security and Sam George, CVP, Cloud + AI Azure IoT in a company blog post.
Rumors about Microsoft buying CyberX dates back to about February. It is believed that the price tag went up to $165 million from $150 million since then.
“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. Gaining this visibility is not only critical for understanding where security risks may exist and then mitigating those risks, but it is also a fundamental step to securely enable smart manufacturing, smart grid, and other digitization use cases across production facilities and the supply chain,” they added.
CyberX works with major utility, telecommunications, and chemical companies. And CyberX is known for applying analytics and AI-based techniques for monitoring network activity and detecting breaches.
Two years ago, Microsoft had announced a $5 billion investment in IoT to further their commitment to build a trusted and easy-to-use platform for customers and partners to build connected solutions.
“(Nir Giller) and I founded CyberX with the goal of delivering a scalable solution that would be easy to deploy and reduce risk for enterprises worldwide,” explained Omer Schneider, co-founder and CEO of CyberX.
CyberX raised nearly $48 million in funding prior to the acquisition. Investors include Inven Capital, Qualcomm Ventures, ff Venture Capital, OurCrowd, Norwest Venture Partners, Flint Capital, UpWest, and Gigi Levy-Weiss.