As per recent reports, the US tech giant, Microsoft has acquired the Israeli cybersecurity start-up, CyberX to further strengthen the protection of its Internet of Things (IoT) technology.
CyberX, the Waltham, Mass-based company, was founded in 2013. CyberX has been involved in providing a security platform for IoT and operational technology (OT) industrial systems. Their customers are major energy utilities, telecom carriers, chemical industries, and other similar companies that use “unmanned machines” across networks for essential services.
The reports of the impending acquisition started in February when CyberX announced integration with Microsoft Azure Security Center for IoT and then reappeared in May. After a lot of speculation, the deal was reportedly closed for a price of $165 million.
Microsoft’s Focus on IoT Security
Microsoft has stated that this move aims to increase the security aspects of their existing Azure IoT security products. They have been focusing on IoT since 2018 and have reportedly invested $5 billion in IoT. This acquisition focuses on two major areas:
- Assist customers to identify what IoT devices are already connected to their networks.
- Managing security on the existing IoT devices that have previously been difficult due to numerous protocols.
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Microsoft’s announcement mentioned that with CyberX, customers will be able to see a digital map of thousands of devices across a factory floor or inside a building. This will assist them in gathering information regarding their profile assets and vulnerabilities.
Also, CyberX technology can be used with Azure Sentinel, Microsoft’s security information and management (SEIM) solution, that will identify any risk across OT and IT networks that were previously difficult to detect.
CyberX to be managed by Yuval Eldar
CyberX will be part of a business unit managed by Yuval Eldar, Microsoft GM of IoT Security. Yuval Eldar was previously the founder, President, and CTO of Secure Islands, until its acquisition by Microsoft in 2016.
CyberX announced that their founders will be joining Microsoft and the platform will continue to be assisted by CyberX personnel. Microsoft will continue to work with CyberX’s resellers and technology partners worldwide. Also, CyberX will continue to be available as a hybrid model supporting both cloud-connected and air-gapped networks.
Acquisitions in Economic Slowdown
Microsoft has also been involved in strengthening its portfolio with its focus on cybersecurity M&A in Israel. Their other acquisitions include purchasing of Aoarto, Adallam, Secure Islands, and Hexadite. This economic slowdown has given these big tech companies to focus on their long-term strategies and strengthen their assets worldwide.