After scrutinizing so many security events, and in an attempt to provide better security and expand its product range, Microsoft finally decided to buy a security software company, RiskIQ.
On Monday, Microsoft finally announced this deal on its official blog, but, they didn’t disclose any terms. Apart from this, Microsoft is paying $500 million in cash for the “RiskIQ.”
“The vision and mission of RiskIQ is to provide unmatched internet visibility and insights to better protect and inform our customers and partners’ security programs. We’re thrilled to add RiskIQ’s Attack Surface and Threat Intelligence solutions to the Microsoft Security portfolio, extending and accelerating our impact. Our combined capabilities will enable best-in-class protection, investigations, and response against today’s threats.”—RiskIQ Cofounder and CEO Elias Manousos Said.
RiskIQ and The Deal
RiskIQ is a US-based security firm, which is founded in 2009, and it enables the software based on cloud computing of corporate networks and devices to detect different security threats.
Not only that even they also allow their clients and their corporate networks to understand that how and where they are vulnerable to external threats.
In short, RiskIQ is the leader in digital threat management and provides the most comprehensive detection, intelligence, and remediation of threats associated with an organization’s digital presence on the Internet.
RiskIQ has raised more than $83 million through its annual security report, “Evil Internet Minute,” from the firms such as Summit Partners and Battery Ventures.
RiskIQ’s vision and mission is to provide unmatched visibility and insight on the Internet to better protect and inform our customers and partners’ security programs
Apart from this, in June, Microsoft already bought another company in the same sector, ReFirm Labs, which deals with the protection of smart devices. While the amount of the deal was not disclosed yet.
In a blog post, Microsoft said that more than 3500 people are involved in security. And soon it will add RiskIQ technology to its core products.
This purchase was influenced by the rapid increase in cyberattacks and the propagation of ransomware. While the company experts speculated that this acquisition will also help Microsoft to monitor supply chain risks, and this is likely to be a growing priority for many companies.
As an attack on software provider SolarWinds last year has affected at least 18000 of its customers, and this month alone IT provider Kaseya was the victim of a ransomware attack that spread to more than 1,000 companies.
Moreover, cybersecurity became a priority for Microsoft, since, this year Microsoft faced several security problems when a group linked to China, Hafnium, violated the Exchange email service of the company.
Prominently, for now, Microsoft refused to disclose any further details regarding the financial terms of the purchase; but, according to the internal reports, Microsoft paid $500 million in cash to complete the purchase of RiskIQ.