The company has raised roughly $30 million from investors including Ascent Venture Partners, Cedar Fund, Bessemer Venture Partners and Salesforce.
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Said Rob Salvagno, vice president of Cisco Corporate Development, in a statement.
In case you are unaware of it, CloudLock is a Waltham-based cloud securitycompany that focuses on providing enterprise class security solutions for companies that keep either part or all of their data in the clouds.
Largest networking hardware manufacturer believes the acquisition will further enhance its security portfolio.
Cisco Blog The Platform I’m excited to share that today Cisco announced its intent to acquire CloudLock Inc., a leading cloud security solution that gives companies visibility and policy control over content shared in cloud applications. 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. The acquisition is expected to close in the first quarter of fiscal year 2017.
In other cloud security deals, Cisco bought Lancope in December and OpenDNS in June 2015.
“As enterprises are retooling themselves and increasingly building their futures in the cloud, security has not only become a top business priority, it is now universally demanded by businesses and individuals alike, as a necessity to keep their cloud applications, their data, and their businesses safe”, CloudLock co-founder and CEO Gil Zimmerman said. Cisco plans to pay additional retention-based incentives for CloudLock employees who join Cisco, Reuters reports.
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Cisco Systems stock was up more than 1%, near 27.50, in morning trading, as markets were rebounding a bit after taking a pounding Monday and Friday on Britain’s surprising vote to exit the European Union.
