Is cybersecurity the next massive profit center for Microsoft? It just might be as the tech giant continues to acquire firms in the space. Today, the company announced that it would acquire CloudKnox for an undisclosed sum, its second purchase of a cybersecurity firm in as many weeks.
CloudKnox’s main service allows companies to limit and manage access to its cloud resources in order to prevent misuse and malicious exploitation. It enables the managers of cloud resources to limit the time and/or functions users may be on the platform for.
The move shows that Microsoft, the dominant player in enterprise technology and software, believes cybersecurity will be an increasingly important part of its business as time goes on.
This belief has been borne out in recent financial reports where Microsoft said that it generated over $10 billion in security-related revenue in 2020. By adding additional functionalities and service levels to its offerings, the company should be able to grow its platform even further and make it harder for companies to leave for another provider.