Cisco is making its fifth acquisition of 2016, acquiring CloudLock in a deal worth $293 million. The tech giant has now spent more than $2 billion on tech deals in six months.
CloudLock focuses on cyber security.
This deal, which was announced Tuesday, is the latest in a series of security-related acquisitions. Cisco previously bought Lancope, OpenDNS and Sourcefire.
“‘Buy’ has been a key part of our innovation strategy, alongside significant internal product development, to drive towards a fully integrated security portfolio,” wrote Rob Salvagno, vice president of Cisco Corporate Business Development, in a blog. “Today’s announcement builds on three quarters of consecutive revenue growth in Cisco’s security business.
NetworkWorld, reporting on the deal which it said was Cisco’s fifth of the year, noted “the move should bolster Cisco’s overarching cloud security offering.”
Cisco, which operates one of its largest corporate campuses, in RTP, is offering retention plans to keep the CloudLock team.
Salvagno explained Cisco’s thinking behind the buy in a blogpost:
“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.
“CloudLock specializes in Cloud Access Security Broker, or CASB, technology and helps organizations move faster to the cloud. CloudLock delivers cloud security to help track and manage user behavior and sensitive data in SaaS applications, such as Office365, Google Drive, and Salesforce. Enterprise IT can then enforce a granular security policy within these cloud applications. For example, CloudLock can help protect data and enforce access rules when an employee tries to access sensitive data stored in a SaaS application from an unprotected device, in a defined geography, at a specific time of the day – essentially, ‘security anywhere, anytime’ for content in the cloud. CloudLock extends these security controls to the IaaS and PaaS layers as well.
“CloudLock’s unique cloud-first, platform and API-based approach means that they’re able to deliver an incredibly detailed level of understanding of how users are sharing data, what’s being shared, and potential security risks associated with sensitive information that shouldn’t be distributed. They do this while remaining invisible to an end user who is accessing the cloud.
“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.
“‘Buy’ has been a key part of our innovation strategy, alongside significant internal product development, to drive towards a fully integrated security portfolio. Today’s announcement builds on three quarters of consecutive revenue growth in Cisco’s security business.
“We have expanded our security footprint with milestone acquisitions including Lancope, OpenDNS, Sourcefire. Together, CloudLock and Cisco together will offer the industry’s broadest cloud security protection for users, applications, and data.
“The CloudLock team will join Cisco’s Networking and Security Business led by Senior Vice President and General Manager David Goeckeler.”