Software provider Microsoft acquired US-based cybersecurity software producer CyberX on Monday in a deal that enabled mobile semiconductor producer Qualcomm and energy utility Čez to exit.
The price was not officially disclosed but unnamed sources told TechCrunch that Microsoft paid about $165m for the company, which had raised approximately $48m in funding.
Founded in 2013, CyberX provides cybersecurity software designed to protect unmanaged internet of things (IoT) or operational technology (OT) devices.
The product is intended to enhance the security of Microsoft’s Azure cloud computing platform and any connected devices spanning areas such as industrial IoT or OT, where hardware and software systems monitor and react to large hardware-based systems.
Michal Braverman-Blumenstyk, Microsoft’s chief technology officer for cloud and artificial intelligence security, said: “CyberX’s technology and team are a great addition to Microsoft.
“With CyberX’s expertise and innovative platform, together with Microsoft’s exciting security products, Microsoft is offering a powerful and scalable solution that accelerates digitalisation for enterprises at all phases of their IoT/OT journey.”
The company last raised money in an $18m round in April 2019 co-led by Qualcomm and Čez through subsidiaries Qualcomm Ventures and Inven Capital.
The 2019 round also featured existing investors OurCrowd, Norwest Venture Partners, Glilot Capital Partners and Flint Capital. CyberX’s earlier backers include Swarth Group, FF Venture Capital, Leon Recanati and Gigi Levy-Weiss.
