Shares of Zscaler (NASDAQ: ZS) are losing ground in Wednesday's trading on fears that a resource-rich competitor is moving in on its turf. The cybersecurity company's share price was down 6.3% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence.

Microsoft (NASDAQ: MSFT) published a press release yesterday announcing that it will be debuting new capabilities for its Azure cloud service and moving into secure-service-edge (SSE) offerings. With the move, the software giant appears to be encroaching on Zscaler's turf. 

SSE software is a core offering for Zscaler and involves a collection of cloud-based network security services. These services are broken down across three categories -- secure web gateways (SWGs), cloud access security brokers (CASBs), and zero trust network access (ZTNA) frameworks.

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Source Fool.com