Microsoft announced that it is buying security company RiskIQ to help company for protection as ransomware and other cyber attacks become increasingly disruptive. Microsoft said the discovery would help its customers deal with the unique risks posed by remote work and reliance on cloud computing in the midst of “increasing problems and the frequency of cyber attacks.”
RiskIQ software allows organizations to monitor all of their networks – including activities that work for various cloud providers – and its intelligence research threatens businesses to understand and minimize potential risks. The announcement comes at a time when cyber security is a high priority for many business leaders, following a recent ransomware attack that temporarily shut down a large fuel pipeline, meat supplier and IT retailer, among others.
Microsoft also had its cyber security challenges this year: China-affiliated group Hafnium broke the Exchange email service in March, which may have given the group access to information from tens of thousands of organizations, including national and local governments, educational institutions, infectious diseases researchers and businesses.
Microsoft declined to disclose the financial details of the acquisition. Bloomberg on Sunday reported that Microsoft had paid more than $ 500.
Prior to its acquisition, RiskIQ had raised more than $ 80 million in investments. Recently, it raised the $ 15 million Series D round announced last June which aims to help integrate the company’s software into critical infrastructure, including protecting the country’s enemies. At the time, RiskIQ claimed to work for 30% of Fortune 500 and 6,000 organizations worldwide.