Amid increasing cybersecurity threats due to current hybrid and remote work environments, Microsoft has announced its intentions to acquire cybersecurity company, RiskIQ. Eric Doerr, the Vice President of Cloud Computing at Microsoft, posted in a blog post about the acquisition on Monday. Following that, a post on RiskIQ's website talks about the company's excitement to be teaming up with the tech giant.
Microsoft describes the current stage of digital transformation and the increasing number of companies embracing the concept of Zero-trust security as its motivations behind this acquisition.
Although the terms of the deal have yet to be disclosed, Bloomberg reports that the deal is costing Microsoft more than $500 million. The company's representative has yet to comment on this information.
RiskIQ is a leader in global threat management based in San Francisco. The company provides cloud-based software (SaaS) to detect security threats and help its clients understand weak points in their corporate network. RiskIQ also offers global threat intelligence that companies can leverage to gain insights on cybersecurity threats, the quickest way to neutralise them and pre-emptively lock down their vulnerable assets.
"With more than a decade of experience scanning and analysing the internet, RiskIQ can help enterprises identify and remediate vulnerable assets before an attacker can capitalise on them," states Eric Doer.
Microsoft, with this acquisition, plans to integrate RiskIQ's technology to expand and strengthen its already available security services. This allows its customer to gain deeper insights into the global threats to their businesses. The tech giant has already been known to provide cloud-native security in the form of Microsoft 365 Defender, Microsoft Azure Defender and Microsoft Azure Sentinel across multiple cloud and hybrid cloud environments.
RiskIQ, on the other hand, looks forward to this deal as partnering with Microsoft will accelerate the company's reach and impact. In turn, it will successfully fulfil the company's vision and mission "to provide unmatched internet visibility and insights our customers and partners' security programs," as stated by RiskIQ Cofounder and CEO Elias Manousos.
Loyal customers of RiskIQ will be glad to know that the company will still support their community as part of the Microsoft team. The company will also be continuing to work with the members of their Interlock Partner Program. The acquisition will add both RiskIQ's technology and the team to Microsoft's security portfolio.
The acquisition looks to be beneficial on both sides for the companies and the customers. These upcoming months will be interesting to see how the deal plays out and what Microsoft comes up with regarding the integration of RiskIQ software into Microsoft's already available security offerings.