Microsoft acquires RiskIQ, a security software provider

Microsoft announced Monday that it had agreed to acquire RiskIQ, a cybersecurity start-up, on undisclosed terms.

The deal could help Microsoft grow its security business, which is growing faster than other segments. In January, Microsoft said it generated more than $ 10 billion in security revenue in the past 12 months, up more than 40% year on year.

RiskIQ’s Illuminate software aggregates threats across an organization’s IT footprint so security professionals can tackle the most critical. The system runs on Microsoft’s Azure cloud and other clouds such as the market-leading Amazon Web Services. It also works with on-premises infrastructure, wrote Eric Doerr, vice president of cloud security at Microsoft, in a blog post.

Microsoft has recently had to deal with security issues, including exploits of versions of its Exchange Server mail and calendar software.

RiskIQ was established in 2009 and is based in San Francisco, with more than 200 employees, according to LinkedIn. Investors include Battery Ventures and MassMutual Ventures. Competitors to Risk IQ include Mimecast, a publicly traded company.

Over the weekend, Bloomberg reported, citing an anonymous source, that Microsoft would pay more than $ 500 million for RiskIQ.

LOOK: Former NSA hacker on global ransomware attack