Technology Company Cisco to Acquire Cloud Security Company CloudLock

June 29, 2016
Technology Company Cisco to Acquire Cloud Security Company CloudLock
Technology company Cisco has announced its intention to acquire cloud security company CloudLock. Cisco, which has headquarters in San Jose, California, United States, was established in 1984. It specializes in hardware, software, and Internet solutions that “make networks possible”. The company is a globally recognized brand with a global presence. Its purchase of CloudLock is intended to extend Cisco’s cloud security offerings capability. The cost of the deal is reported to be $293 million in cash and it is expected it will be completed by the end of the 2017 fiscal year.

CloudLock, which has headquarters in Waltham, Massachusetts, United States, provides cloud cybersecurity and CASB solutions. The company also has offices in Europe and its offerings “protect data in the cloud, reduce risk, achieve compliance, manage threats, and increase business productivity”. They are designed to ensure security for SaaS, PaaS, IaaS, and IDaaS environments and for custom security services. CloudLock caters to companies of a range of sizes including big players like HBO and Seagate Technology. Its offerings are capable of “monitoring over one billion files daily across more than 10 million users”.

“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,” explained Cisco’s Vice President of Cisco Corporate Development, Rob Salvagno. “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.”

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