Cisco today announced its intention to acquire privately-held Cloud Access Security Broker (CASB) vendor CloudLock for $293 million. The deal is expected to close in the first quarter of Cisco’s fiscal 2017.
When the deal closes, CloudLock employees will join Cisco’s Networking and Security Business under the direction of SVP and GM David Goeckeler and will report directly to VP David Ulevitch. Ulevitch himself joined Cisco by way of Cisco’s $635 million acquisition of Ulevitch’s own company, OpenDNS, in June 2015.
CASB technology is an increasingly hot sector of technology, providing organizations with visibility and control into cloud application usage across an enterprise. Back in November 2015, Cisco announced its Security Everywhere initiative, which included partnerships with multiple CASB vendors, including Skyhigh Networks and Elastica. Elastica was acquired by Blue Coat less than a week later for $280 million. On June 13, Symantec announced that it is acquiring Blue Coat in a deal valued at $4.65 billion.
“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,” Rob Salvagno, vice president of Cisco Corporate Development, said in a statement. “They do this while remaining invisible to an end user who is accessing the cloud.”
CloudLock’s CEO, Gil Zimmermann, commented in a blog post that when his company first started to talk to Cisco about collaboration opportunities, he realized that the two companies had a lot in common.
“We also realized that by joining forces, we could accelerate the execution of our vision with greater investments in research and development, the CloudLock CyberLab, partner enablement, and global reach, which is far greater than we could have ever achieved on our own,” Zimmerman said.
Sean Michael Kerner is a senior editor at Enterprise Networking Planet and InternetNews.com. Follow him on Twitter @TechJournalist.