Microsoft is purchasing RiskIQ as the threat of cyberattacks looms

Microsoft is buying security software company RiskIQ amid a growing threat of ransomware attacks.

In the next few days, the companies are expected to announce the acquisition, which Bloomberg reported will be valued around $500 million. RiskIQ currently works with a handful of companies, including Facebook and American Express, to help detect and prevent security threats.

Microsoft has been teaming up with security vendors to protect itself from the rising threat of cyberattacks. Most recently, the company bought ReFirm Labs to secure Internet of Things products and hired personnel to detect potential vulnerabilities. Microsoft hasn't yet announced how RiskIQ will be used to help prevent cyberattacks.