Tech giant Microsoft will acquire Israeli cybersecurity company CyberX to boost protection of Internet of Things (IoT) technologies, the companies said Monday.
While the value of the acquisition has not been disclosed, media reports in recent months have estimated that the deal is worth approximately $165 million.
The deal follows plans announced by Microsoft in 2018 to invest $5 billion in IoT by 2022. The acquisition of CyberX, the companies said, will help solve security challenges for connected IoT devices in IT and industrial networks.
“By joining forces with Microsoft, we will rapidly scale our business and technology to securely enable digital transformation for many more organizations,” said Nir Giller, CyberX co-founder, GM International and CTO.
“Together, CyberX and Microsoft provide an unbeatable solution for gaining visibility and a holistic understanding of risk for all IoT and OT devices in your enterprise.”
Founded in 2013 by Giller and fellow Israeli, Omer Schneider, CyberX says its industrial cyber platform has been deployed across more than 1,200 production industrial control systems (ICS) worldwide.
Following the acquisition, CyberX’s founders will join Microsoft, and staff will continue to develop and support the company’s platform.
