July 20, 2015 / 7:23 AM / 2 years ago

Microsoft to buy Israeli cyber security firm Adallom: report

A Microsoft sign is pictured at its Finnish headquarters in Espoo, Finland July 8, 2015.Mikko Stig/Lehtikuva

TEL AVIV (Reuters) - Microsoft Corp plans to acquire Israeli cyber security company Adallom for $320 million, the Calcalist financial newspaper reported on Monday.

Adallom, which develops cloud security platforms, is expected to become the center 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 U.S. technology company has made several recent acquisitions in Israel, including security software developer Aorato for a reported $200 million. It also bought text analysis firm Equivio and the technology of digital pen maker N-trig.

Adallom has raised about $50 million 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.

Reporting by Tova Cohen, editing by Louise Heavens

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