Acquisition of Israeli startup CyberX by technology giant Microsoft proves that IoT security is critical. It is no more just a technology that every organization aims to use. Hackers are actively deploying and rapidly exploiting it. In this article at Globes, learn about the newly acquired CyberX by Microsoft, a deal that estimates up to $165 million.
The brainchild of two Israeli Elite Cyber Security Unit experts, Omer Schneider and Nir Giller, CyberX, was formed in 2013 in Boston, Massachusetts. With a development center in Herzliya in Israel, the firm has so far bagged about $48 million from prominent investors.
The startup is known for its highly sophisticated IoT security for IT control systems. It offers cyber protection through algorithms by analyzing network transmissions and inconsistencies in machine to machine (M2M) transmissions. It serves international consumers in diverse sectors, including energy, pharmaceutical, chemicals, gas, water, and manufacturing.
Both Schneider and Giller intend to deliver an expandable solution that is easy to deploy and reduces the risk of a cyber breach. The founders believe that the merger with Microsoft can boost their scalability. It would help them reach out to the organizations aiming to enable digital transformation securely.
Strategy Behind the Deal
Microsoft aims to offer a robust solution with CyberX to get visibility over existing risks associated with the operational technologies and IoT devices. It plans to keep backing global strategic resellers and technology partners of CyberX.
CyberX would accelerate Microsoft Azure’s IoT security and deployment capabilities. It will continue offering a hybrid model that supports cloud-connected and air-gapped networks.
The new strategy would help Microsoft customers discover their existing IoT assets and improve security measures. Also, consumers will have the capability to map out information about the current vulnerabilities and achieve visibility on prevailing security risks. Click on the following link to read the original article: https://en.globes.co.il/en/article-microsoft-confirms-acquisition-of-israeli-iot-security-co-cyberx-1001333249