Microsoft has bought Israel-based security company Secure Islands for a reported $77.5 million that allows the American corporation to utilize IQProtector.
On Nov. 9, Monday, the Washington-based tech company Microsoft confirmed that it has purchased the data-security company.
Previously, a report by Fortune noted that Microsoft was showing interest in Secure Islands and that the tech giant could buy the Israeli firm for at least $100 million. A business newspaper in Israel, Globes, reported the deal on Nov. 4, Wednesday.
Now, a source has stated that the purchase was actually valued at only $77.5 million, according to ZDNet.
Likewise, Secure Islands is the third Israeli security firm garnered by Microsoft.
Microsoft first got a hold of application firewall startup Aorato for $200 million in November 2014. The enterprise security innovator had relations with the Israeli Defense force and has since been renamed as Advanced Threat Analytics.
In July, the multinational corporation proceeded to get cloud security company Adallom, which was also first covered by Globes, for a staggering $320 million. The cloud security vendor can readily monitor services such as Amazon, Dropbox, Salesforce, Google and Microsoft's Office 365.
Secure Islands, on the other hand, has a remarkable product called IQProtector which is touted by the firm as a "policy-driven classification and protection solution."
The technology can gather unstructured data and provide organization and categories by looking into both the context and the content.
Currently, Secure Islands protects the data of Credit Suisse, Vodafone, OSRAM and UBS. The Israeli cyber security company also guards files and emails by utilizing Microsoft's Rights Management Services technology.
The protection capabilities of Secure Islands allows emails to remain confidential even if the messages get hacked.
The Israeli company has already received $20 million, $12 million of which came from Credit Suisse, to further develop the cyber security services.
Along with the Adallom and Aorato deals, Microsoft's control over Secure Islands will serve as a formidable competitor against cloud access security brokers such as Skyhigh Networks, Netskope and Ciphercloud.