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Microsoft (MSFT) said the acquisition will help its customers cope with the unique risks created by working remotely and relying on cloud computing amid “the increasing sophistication and frequency of cyber attacks.”
RiskIQ’s software enables organizations to monitor their entire networks, including operations performed on various cloud providers, and its threat intelligence research helps organizations understand and mitigate potential risks.
“We couldn’t be more excited to join forces to enable the global community to defend against the rising tide of cyber attacks,” RiskIQ Founder and CEO Elias Manousos said in a blog post. Monday.
The announcement comes at a time when cybersecurity is a priority for many business leaders, following a series of recent ransomware attacks that have temporarily destroyed a major fuel pipeline, a meat supplier and a IT provider, among others.
Microsoft has also had its own cybersecurity challenges this year: China-linked group Hafnium breached the company’s Exchange messaging service in March, potentially giving the group access to the data of tens of thousands of people. organizations, including state and local governments, academic institutions, infectious disease researchers and businesses.
Microsoft declined to disclose the financial terms of the acquisition. Bloomberg reported on Sunday that Microsoft paid more than $ 500 million in cash to buy RiskIQ.
Prior to the acquisition, RiskIQ had raised more than $ 80 million from investors. Most recently, he raised a $ 15 million Series D funding round announced last June to help integrate the company’s software into critical infrastructure, including to protect against adversaries from nation states. At the time, RiskIQ said it served 30% of Fortune 500 and 6,000 companies globally.
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