Microsoft to buy cybersecurity firm as threats mount

(KYMA, KECY/ CNN) - Microsoft says it will buy 'Risk IQ,' a cyber security firm in hopes that it will help in the fight against hacking.

Officials with Microsoft say this purchase will protect customers from risks that arise as more people are working remotely and using cloud services.

Risk IQ has software that will allow companies to keep a close watch on all of their networks including those that run on cloud providers.

This deal comes when numerous organizations have been affected by ransomware attacks in the last several months.

Microsoft did not disclose how much it paid to acquire Risk IQ, but according to Bloomberg, the deal was at least $500 million.