Microsoft Corp. has agreed to acquire RiskIQ, a security software maker, as the tech giant is in move to expand its products and better protect customers amidst a rising tide of global cyberattacks.
However, there's no official announcement from Microsoft yet about the deal. An insider linked with the company claimed that they will pay $500 million in cash to acquire RiskIQ.
RiskIQ was founded in 2009 with its base in San-Francisco. Their customers includes Facebook Inc., BMW AG, American Express Co., The U.S. Postal Service. The company is associated in making cloud software for the clients which helped them detect security threats, and understand where and how they can be attacked on complex networks and devices.
Microsoft has already been in the headlines for adding security features to its products like Windows and Azure cloud. This is being done to protect the users from vulnerabilities and help clients clean up the cyberattack. They are acquiring several companies to expand their security capabilities.
Last month, they bought ReFirm labs, who is the maker of technology to secure internet devices.