Daily Crunch: Microsoft acquires CyberX

Microsoft acquires a security startup, Canva raises $60 million and Apple kicks off a virtual WWDC.

Here's your Daily Crunch for June 22, 2020.

1. Microsoft confirms acquisition of CyberX to boost security in its Azure IoT business

Microsoft announced today that it's acquiring CyberX, a security startup that focuses on detecting, stopping and predicting security breaches on Internet of Things networks and the networks of large industrial organizations. Terms of the deal are not being disclosed, but sources say that it's in the region of $165 million.

The deal also illustrates how bigger tech companies are using the economic slowdown to focus on their longer-term strategies and shore up assets to support those strategies.

2. Canva raises $60 million on a $6 billion valuation

At the beginning of the pandemic, Canva made a commitment to continue paying all of its contracted workers, but froze hiring. The company also made quick moves to shut down the office and move to remote work. At the same time, Canva says it's getting a boost from the world moving to work from home.

3. Live from Apple's virtual WWDC 2020

What will Apple announce today? You can wait for tomorrow's Daily Crunch to find out, or you can follow along with our live blog. The keynote starts at 10 a.m. Pacific/1 p.m. Eastern.

4. Virgin Galactic to buy seats on rockets and train private astronauts for Space Station trips

Virgin Galactic is in the process of developing a sub-orbital space tourism program using its own spacecraft, but this deal would involve use of other spacecraft that have the capacity to reach orbit and the ISS - which Virgin Galactic's SpaceShipTwo can't do.

5. Ideas for a post-COVID-19 workplace

As a workplace strategist, Albert De Plazaola says he's constantly asked, What is the workplace of the future?" But in his view, Frank Lloyd Wright already designed the solution. (Extra Crunch membership required.)

6. BMW, Mercedes-Benz end long-term' automated driving alliance, for now

BMW Group and Mercedes-Benz AG have punted on what was meant to be a long-term collaboration to develop next-generation automated driving technology together, less than a year after announcing the agreement.

7. This week's TechCrunch podcasts

The latest full-length Equity episode discusses the Hey email app and its developer's dispute with Apple, while the Monday news roundup recaps recent fundings. And on Original Content, we review Spike Lee's new movie on Netflix, Da 5 Bloods."

The Daily Crunch is TechCrunch's roundup of our biggest and most important stories. If you'd like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.