Dive Brief:
- Cisco announced plans to buy cloud-based security company CloudLock for $293 million.
- CloudLock is the fourth security company Cisco has purchased over the last year, for a total investment of more than $1 billion.
- Massachusetts-based CloudLock specializes in “cloud access security broker technology that provides enterprises with visibility and analytics around user behavior and sensitive data in cloud services,” according to a Cisco press release
Dive Insight:
The purchase of CloudLock “will help accelerate Cisco’s cloud security portfolio, and extend the cloud security offering throughout the enterprise,” according to the Cisco news release.
"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," said Rob Salvagno, vice president of Cisco Corporate Development.
Cisco bought network security company Lancope Inc. and UK-based cybersecurity consultancy Portcullis last October. Last June it agreed to pay $635 million for OpenDNS.
As the market shifts, Cisco has struggled to maintain its revenue stream. Revenue for Cisco’s core businesses—switching and routing systems—fell 3% and 5% respectively last quarter.
