Microsoft Corp. has agreed to acquire RiskIQ, a security software maker, as the tech giant tries to expand its products and better protect customers amid a rising tide of global cyberattacks, according to people familiar with the matter.
The deal will be announced as soon as the next few days, said the people, who asked not to be identified speaking about an acquisition that isn’t yet public. Microsoft will pay more than $500 million in cash for the company, one of the people said.
San Francisco-based RiskIQ makes cloud software for detecting security threats, helping clients understand where and how they can be attacked on complex webs of corporate networks and devices. Its customers include Facebook Inc., BMW AG, American Express Co. and the U.S. Postal Service, according to the company’s web site.
Microsoft has been adding security features to products like Windows and its Azure cloud services to protect individual machines and detect attacks on networks. The company has also added personnel who probe Microsoft’s own products for vulnerabilities, help clients clean up after a cyberattack, and runs a lab called the Microsoft Threat Intelligence Center that closely tracks nation-state hackers.
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