Microsoft Corp plans to acquire Israeli cyber security company Adallom for $320 million (roughly Rs. 2,038 crores), the Calcalist financial newspaper reported on Monday.
Adallom, which develops cloud security platforms, is expected to become the centre for Microsoft’s cyber security business in Israel, the newspaper said.
Adallom could not be reached for comment and officials at Microsoft in Israel declined to comment.
The US technology company has made several recent acquisitions in Israel, including security software developer Aorato for a reported $200 million (roughly Rs. 1,274 crores). It also bought text analysis firm Equivio and the technology of digital pen maker N-trig.
Adallom has raised about $50 million (roughly Rs. 320 crores) from venture capital funds Sequoia Capitol and European Index Ventures as well as EMC Corp and Hewlett-Packard, among others, Calcalist said.
Adallom was founded in 2012 has 80 employees at its offices in Israel and the United States.
It offers users information security technology on remote servers. It can secure information stored on Salesforce’s, Microsoft’s or Google’s cloud services and protect it from cyber-attacks.
Source-NDTV
