In February, Israeli news organization TheMarker reported that tech industry giant Microsoft had acquired Israeli industrial cybersecurity company CyberX. At the time neither Microsoft nor CyberX would confirm the acquisition.
Now, months later, multiple news outlets are reporting that negotiations in Microsoft’s acquisition of CyberX are underway. According to Israeli newspaper Haaretz, Microsoft is expected to acquire the industrial security company for $165 million.
CyberX was founded in 2013 by military cyber experts with nation-state expertise defending critical infrastructure. The company specializes in securing operational technology and Internet of Things environments.
In March 2019, the company announced it had raised a total of $48 million in capital from leading venture firms like Norwest Venture Partners and Qualcomm Ventures. The Israeli industrial cybersecurity company’s clients include leading global pharmaceutical companies, global telecommunications companies, United States energy utilities, French manufacturers and more.
CyberX and Microsoft have already built a working relationship. In February, CyberX announced it had joined the Microsoft Intelligent Security Association. The group is made up of technology providers who have integrated their solutions with Microsoft products to provide customers better protection, detection, and response.
At the time, CyberX also announced a new API-level integration with Microsoft Azure Security Center for IoT. The new integration enables joint clients to gain a unified view of security across all their managed and unmanaged IoT devices.
“We’re thrilled to be working with Microsoft to secure large and diverse IoT/OT environments for enterprises worldwide,” Omer Schneider, CEO and co-founder at CyberX said in a press release at the time.
An official announcement on the acquisition of the Israeli industrial cybersecurity company is expected in the next few days.