Microsoft has acquired a security startup called CyberX to to accelerate and secure customers Internet of Things (IoT) deployments.
Terms of the deal were not disclosed but media reports said the acquisition could be around $165 million.
“CyberX will complement the existing Azure IoT security capabilities, and extends to existing devices including those used in industrial IoT, Operational Technology and infrastructure scenarios,” the tech giant said in a statement on Monday.
With CyberX, customers can discover their existing IoT assets, and both manage and improve the security posture of those devices.
“With CyberX, customers can see a digital map of thousands of devices across a factory floor or within a building and gather information about their asset profile and vulnerabilities,” said Microsoft.
Security researchers this month discovered serious vulnerabilities that could expose IoT devices worldwide to hackers.
The vulnerability affects hundreds of millions of IoT devices that could potentially allow nefarious actors, including nation-states, to remote take-over of these devices, according to JSOF, a boutique cybersecurity organization.
Microsoft said that gaining this visibility is not only critical for understanding where security risks may exist and then mitigating those risks, “but it is also a fundamental step to securely enable smart manufacturing, smart grid and other digitization use cases across production facilities and the supply chain”.
IoT today provides real-time insights into assets, enabling businesses to reduce operational expenses, unplanned downtime and unnecessary servicing.
Two years ago, Microsoft announced a $5 billion investment in IoT to further its commitment to build a trusted, easy-to-use platform for its customers and partners.
“We will continue to deliver more value to our customers as CyberX is further integrated with Microsoft’s broad portfolio of IoT security offerings in threat protection that span users, endpoints, applications, data and more,” said the company.