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Cisco to Acquire Cloud Access Security Broker CloudLock for $293 Million

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Cisco Announces Acquisition of Waltham Cybersecurity Firm

The company has raised $ 39 million to date and has 150 employees, 30 of them in Israel.

Said Rob Salvagno, vice president of Cisco Corporate Development, in a statement. CloudLock specializes in Cloud Access Security Broker, or CASB, technology and helps organizations move faster to the cloud.

By acquiring CloudLock, Cisco will be able to enhance its security portfolio and build on its Security Everywhere strategy, which is created to provide protection from the cloud to the network to the endpoint.

Similar to the earlier acquisitions, the CloudLock purchase will further solidify Cisco’s position in the cloud infrastructure market.

The deal between Cisco and CloudLock still needs regulatory approval, but it’s expected to be completed during the first quarter of 2017. In a crowded market of cloud access security broker vendors, CloudLock has built a powerful go-to-market engine that has managed to grow to attract over 700 customers, including Fortune 500 companies, in less than five years. He directed Cisco’s small but growing security business. CloudLock delivers cloud security to help track and manage user behavior and sensitive data in SaaS applications, such as Office365, Google Drive, and Salesforce.

Cisco on Tuesday said it would acquire CloudLock, a cloud-based security provider, for $ 293 million (£219m) in cash and stock, as companies look for ways to protect documents and other content that is increasingly hosted in remote facilities. Cisco is filling out its security offerings to cover more cloud tech.

The deal’s terms also included retention incentives for CloudLock employees who join Cisco CSCO, +1.32% the biggest maker of networking gear. Together, we plan to offer the industry’s broadest cloud security protection and enable our customers to realize the benefits of the mobile-cloud era.

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