On Monday Microsoft announced it has entered into an agreement to acquire RiskIQ, a cybersecurity company to help their customers get a better view and understanding of the global threats to their businesses.
Microsoft acquires RiskIQ
According to Bloomberg, Microsoft has agreed to buy the start-up cybersecurity firm for the value of $500 million (which is more than R7 billion).
This comes after several businesses across the globe suffered massive losses due to ransomware attacks. RiskIQ helps customers discover and assess the security of their entire enterprise attack surface—in the Microsoft cloud, AWS, other clouds, on-premises, and from their supply chain, Microsoft writes on their blog.
“The vision and mission of RiskIQ is to provide unmatched internet visibility and insights to better protect and inform our customers and partners’ security programs. We’re thrilled to add RiskIQ’s Attack Surface and Threat Intelligence solutions to the Microsoft Security portfolio, extending and accelerating our impact. Our combined capabilities will enable best-in-class protection, investigations, and response against today’s threats,” RiskIQ Cofounder and CEO Elias Manousos said.
In March, Microsoft announced that Chinese hackers gained access to organisations’ email accounts, through vulnerabilities in its Exchange Server email software.
Shares of Microsoft stock had fallen 1.3% since March 1, the day before the company came out to the public the issue.
Microsoft among big tech slammed for breaking antitrust laws
Joe Biden recently signed an order to crack down big tech, claiming that the companies are becoming the “gatekeepers of commerce” and that they are outsizing the market, making it difficult for small businesses to enter and compete.
The tech giants which include Microsoft were also accused of acquiring start-up businesses to take them out of the market.
RelatedPosts
“Capitalism without competition isn’t capitalism. It’s exploitation,” Biden said in a statement before signing the order at the White House.
Biden told the Federal Trade Commission to write down rules to limit and regulate the growth of these tech giants. Last year the agency launched a comprehensive review of acquisitions by big tech companies, including Amazon and Microsoft, between 2010 and 2019, Seattle Times said.
