It looks like Israeli cloud security firm Adallom is the latest company to be acquired by Microsoft for $320 million, according to local business publications Globes and Calcalist.

Adallom — which has raised $49.5 million thus far — offers "seamless security" for enterprise customers, offering a range of solutions for businesses to secure their data in the cloud:

Critical applications like collaboration, storage, CRM and ERP are moving to the cloud. This means the critical mass of your corporate data will eventually migrate to the cloud. We make it easy to keep your data safe in the cloud. Our platform works with any user, on any device or location. There is no impact to user experience. And, you don't have to be a data scientist to understand risks and threats. Quite simply, it's proven, seamless security.

Founded in 2012, Adallom is headquartered in Palo Alto, California, with a development center located in Tel Aviv. The acquisition will reportedly set the stage for Microsoft to open a cybersecurity center in Israel.

At this stage, both Microsoft and Adallom are yet to confirm the acquisition. We'll update the article once we know more from official sources.

Source: Globes, Calcalist