Microsoft Corp. (Nasdaq: MSFT) is set to acquire Israeli cybersecurity company CyberX. The deal is in the latter stages of being finalized and according to sources close to the talks Microsoft will pay $165 million for the acquisition.
CyberX, which was founded in 2013 by CEO Omer Schneider and CTO Nir Giller, both veterans of the Israeli Elite Cyber Security Unit, is headquartered in Boston and has its development center in Herzliya. The company has raised $48 million to date from investors including Qualcomm, Inven, Norwest Venture Partners, Glilot Capital Partners, Flint Capital, ff Venture Capital, and OurCrowd.
The company is engaged in Internet of Things (IoT) cybersecurity for command and control systems for industry. Protection is implemented by algorithms that analyze network transmissions and identify anomalies in machine to machine (M2M) communications for international customers in the energy, water, pharmaceutical, chemicals, gas and manufacturing plant sectors.
Published by Globes, Israel business news - www.globes-online.com - on May 5, 2020
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