Microsoft Corp. may acquire cybersecurity company RiskIQ for more than $500 million in cash. RiskIQ gives cloud-based software as a service to identify phishing, fraud, malware, and other online security threats. The company has raised $83 million in funding over five rounds.
Microsoft is thinking to add security features to its products, including Windows and Azure cloud services. In June, Microsoft had also declared the acquisition of ReFirm Labs but didn’t disclose the amount.
“This purchase will mark the next step in our journey and ability to help secure our customers from the chip to the cloud, backed by more than 3,500 defenders at Microsoft and more than 8 trillion security signals we treat every day,” the tech giant said in its blog post.
The takeover comes at a time when several US tech companies have been a victim of cybersecurity attacks. Between 800 and 1,500 businesses around the world have been affected by a ransomware attack. The hackers who claimed the breach had demanded $70 million to restore all the affected business’s data. Earlier, the White House said it was investigating to see whether there was any “national risk” posed by ransomware outbreak. Still, Voccola noted that so far, he was not aware of any nationally significant organisations being hit.