Cisco to Acquire Cloud Security Company CloudLock for $293M

Cisco says the acquisition will enhance the company’s security portfolio and build its Security Everywhere strategy.

SAN JOSE, Calif. — Cisco announced on Tuesday it will acquire cloud security company CloudLock for $293 million in cash and assumed equity awards.

CloudLock specializes in cloud access security broker (CASB) technology that is said to provide enterprises with visibility and analytics around user behavior and sensitive data. Cisco said the acquisition will enhance its security portfolio and build its Security Everywhere strategy, designed to provide protection from the cloud to the network to the endpoint.

Cisco said CloudLock’s CASB technology helps customers understand and monitor user behavior and sensitive data in cloud applications, which provides greater visibility, compliance and threat protection.

“As companies are migrating to the cloud, they need a technology partner that can accelerate that transition and deliver critical security capabilities for all their users, apps and data in a seamless way,” said Rob Salvagno, vice president of Cisco Corporate Development. “CloudLock brings a unique cloud-native, platform and API-based approach to cloud security which allows them to build powerful security solutions that are easy to develop and simple to manage.”

The acquisition is expected to close in the first quarter of fiscal year 2017.

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