US tech giant Microsoft announced the acquisition of IoT security company CyberX. The financial details of the deal are not being disclosed but according to the Globes’ sources information, Microsoft has paid $165 million.
CyberX with a headquarter in Boston and development centre in Herzliya was founded in 2013 by Omer Schneider and Nir Giller. The company specializes in detecting, stopping and predicting security threats on Internet of Things networks and the networks of large industrial organizations.
The clients of the startup include Adani, Deutsche Telekom, IDE Technologies, SGN, T-Systems, as well as leading US and European energy, pharmaceutical and oil and gas companies. Totally, CyberX has raised $48 million from investors including Qualcomm, Inven, Norwest Venture Partners, Glilot Capital Partners, Flint Capital, ff Venture Capital, and OurCrowd, reports Globes.
It is not the first investment of Microsoft in IoT. Two years ago, the company made an announcement about spending $5 billion on Internet of Things over four years. Microsoft is planning to integrate CyberX technology into its Azure IoT security solution.
“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,” Microsoft says.
