News: Cisco aims to improve its cloud security portfolio with this acquisition.
Networking giant Cisco will acquire cloud security company, CloudLock, for $293m.
CloudLock specialises in cloud access security broker (CASB) technology, and offers continuous visibility, compliance, threat protection and security for cloud services through a control point.
With this service enterprises can know more about user behaviour and sensitive data in cloud services, including Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).
Cisco said that this acquisition can help in further enhancing its security portfolio and will build on Cisco’s Security Everywhere strategy which can offer protection from cloud to network to endpoint.
With more data, more devices and increasingly decentralised way business is being conducted can mean that security has to evolve more on-premises approach.
With CloudLock customers can accelerate their cloud computing adoption with the delivery of security built specifically to meet today’s realities of cloud-first enterprise.
With CloudLock’s CASB technology, customers can now better understand user behaviour and sensitive data in cloud applications, offering better visibility and analytics on user behaviour and sensitive data in cloud services.
Cisco Corporate Development vice president Rob Salvagno said: "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.
"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 deploy and simple to manage."
Cisco aims to broaden its cloud security protection and enable customers to realise the full potential and benefits of mobile-cloud era.
After the acquisition, CloudLock’s team will work under the leadership of Cisco’s networking and security business group under senior vice president and general manager David Goeckeler.
Cisco will fund the deal through cash and stock while it will offer additional retention-based incentives for CloudLock employees joining Cisco.
The acquisition is expected to be completed by the first quarter of 2017 subject to regulatory approvals.