In a move to help fulfill a $5 billion internet of things commitment made in 2018, Microsoft Corp. (MSFT, Financial) announced on June 22 it is acquiring cybersecurity startup CyberX Inc., which specializes in internet-connected industrial equipment, to “accelerate and secure customers’ IoT deployments.”
While the specifics of the deal were not disclosed, the Redmond, Washington-based software giant will gain additional technology for monitoring corporate hardware like alarms, cameras, phones and industrial control systems for security vulnerabilities.
In a blog post, Microsoft corporate vice presidents Michal Braverman-Blumenstyk and Sam George wrote the Waltham, Massachusetts-based startup’s technology will “complement” the existing IoT security capabilities, such as Azure Sentinel, as well as “[extend] to existing devices including those used in industrial IoT, Operational Technology and infrastructure scenarios.”
“With CyberX, customers can discover their existing IoT assets, and both manage and improve the security posture of those devices,” they added. “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.”
Last year, Microsoft also made an IoT investment in Express Logic, which built an operating system for connected devices. It bought the company for an undisclosed amount.
With a market cap of $1.5 trillion, shares of Microsoft were up around 1.5% on Monday morning at $198.10. GuruFocus estimates the stock has climbed 25% year to date.
According to GuruFocus’ Industry Overview page, Microsoft is by far the biggest player in the software sector with a weight of 36%. Adobe Inc. (ADBE, Financial) comes in second at 5%, followed by Oracle Corp. (ORCL, Financial), Salesforce.com Inc. (CRM, Financial), Accenture PLC (ACN, Financial) and International Business Machines Corp. (IBM, Financial).
Disclosure: No positions.
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