Cisco has announced its intent to acquire CloudLock, a privately held cloud security company based in Waltham, Massachusetts. CloudLock specializes in cloud access security broker (CASB) technology that provides enterprises with visibility and analytics around user behavior and sensitive data in cloud services, including SaaS, IaaS and PaaS.
This acquisition would help accelerate Cisco’s cloud security portfolio, and extend the cloud security offering throughout the enterprise. The CloudLock team will join Cisco’s Networking and Security Business Group under Senior Vice President and General Manager David Goeckeler.
Under the terms of the agreement, Cisco will pay $293 million in cash and assumed equity awards, plus additional retention-based incentives for CloudLock employees who join Cisco. The acquisition is expected to close in the first quarter of fiscal year 2017, subject to customary closing conditions.
More data, more devices, and the increasingly decentralized way companies do business would mean that security has to evolve beyond an on-premises approach. CloudLock helps customers accelerate their cloud adoption by delivering security built specifically to meet the realities of today’s cloud-first enterprise.
CloudLock’s CASB technology helps customers understand and monitor user behavior and sensitive data in cloud applications, providing greater visibility, compliance and threat protection regardless of whether these applications are fully sanctioned by IT or not.
“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 deploy and simple to manage.”