Microsoft is adding third security company
Companies are looking for innovative ways to stay ahead of cybercriminals after the major data breach of Ashley Madison and T-Mobile earlier this year. On November 9, 2015, Microsoft (MSFT) announced the acquisition of Secure Islands, a data security company based in Israel. This will be Microsoft’s third acquisition of an Israeli cybersecurity company in order to improve its cloud service security.
On acquiring Secure Islands, Microsoft will be able to secure its customers’ business data across platforms such as on-premise systems, Azure Cloud, and operating systems such as Windows, iOS, and Android. Companies often need to share critical information over the network, outside their periphery. Secure Islands’ major product, IQProtector, will help mitigate the risk by encrypting the stream of data flow across the network.
In November 2014, Microsoft purchased Aorato, a hybrid cloud security startup, for $200 million. In September 2015, it purchased Adallom, a cloud security company, for $300 million. Secure Islands, established in 2006, has raised $11.1 million to date. Microsoft has not revealed yet how much it will pay to acquire Secure Islands.
Takeshi Numoto, Microsoft’s vice president for Cloud and Enterprise Marketing, said, “These realities make it more critical than ever to have solutions that prevent data loss and track information regardless of where it resides.” He went on to say, “These new capabilities, combined with the data classification in Windows and Office 365, will provide our customers with the industry’s most comprehensive data protection solution.”
Commenting on protecting data, Numoto added, “These realities make it more critical than ever to have solutions that prevent data loss and track information regardless of where it resides.”
The iShares North American Tech-Software ETF (IGV) is a portfolio of 62 stocks. Its top four stocks, Microsoft (MSFT), Adobe Systems (ADBE), Salesforce.com (CRM), and Oracle (ORCL), constitute 9.6%, 9.0%, 8.8%, and 8.1%, respectively, of IGV.