Microsoft is expected to buy the Israeli security firm Hexadite according to a report. Neither company has confirmed the acquisition yet but the report says Microsoft spent $100 million.
According to a new report, it appears that Microsoft could acquire cyber security firm Hexadite for $100 million. The firm has a research and development centre in Israel and is headquartered in Boston. The report surfaced on the Israeli financial news website Calcalist, but neither Microsoft nor Hexadite commented on the acquisition.
Hexadite uses Artificial Intelligence to sort through and address smaller network attacks; larger organisations may experience thousands of these kinds of attacks every single month.
The news comes following the WannaCry cyber attack that affected many systems in Asia and the rest of the world. One of the first major targets for the attack was Britain’s NHS which was still using computers that were running Windows XP.
Hexadite has several well-known investors including Hewlett Packard Ventures, and the VC firms TenEleven and YL Ventures. To date, it has raised $10.5 million in funding. The purchase is part of Microsoft’s plans to invest more than $1 billion into cyber security research and development in the face of growing threats from more and more sophisticated hacking attacks.
Once the acquisition is complete, Hexadite will be the latest in a series of Microsoft purchases of Israeli companies. Past deals have included Aorato, Adollom, and Secure Islands.
Source: Reuters & Techcrunch
