Microsoft acquires cybersecurity firm RiskIQ following 'increasing sophistication and frequency of cyberattacks'

RiskIQ acquired for more than $500m, according to a Bloomberg report

Microsoft is set to acquire global threat intelligence and attack surface management firm RiskIQ in an effort to boost its customers' cybersecurity.

The San Francisco-based business helps customers to discover and assess the security of their entire enterprise attack surface in the Microsoft cloud, AWS, other clouds, on-premises, and from their supply chain, Microsoft says.

Financial terms of the deal were not disclosed, but Bloomberg reports that the transaction will be valued at more than $500m.

"The vision and mission of RiskIQ is to provide unmatched internet visibility and insights to better protect and inform our customers and partners' security programs," said RiskIQ co-founder and CEO Elias Manousos.

"We're thrilled to add RiskIQ's Attack Surface and Threat Intelligence solutions to the Microsoft Security portfolio, extending and accelerating our impact.

"Our combined capabilities will enable best-in-class protection, investigations, and response against today's threats."

Microsoft says the move is in response to the acceleration in digital transformation, meaning customers are faced with "increasing sophistication and frequency of cyberattacks".

It adds that the acquisition will help its shared customers "build a more comprehensive view of the global threats to their businesses, better understand vulnerable internet-facing assets, and build world-class threat intelligence".

The announcement comes just before the start of Microsoft's Inspire conference, which is due to start on Wednesday.