Cisco is buying CloudLock, a privately held cloud security company based in Waltham, Massachusetts. Cisco will pay $293 million in cash and equity awards, plus additional retention-based incentives for CloudLock employees who join Cisco.
CloudLock specializes in cloud access security that provides enterprises with visibility and analytics around user behavior and sensitive data in cloud services and applications. The firm uses an API-based architecture to protect cloud environments whether accessed by managed or unmanaged devices.
The security software tracks apps such as Office365, Google Drive, and Salesforce. Enterprise IT can then enforce a granular security policy within these cloud applications.
Cisco is evolving from an on-premises approach to enterprise security, and it will use the acquired technology to boost its cloud security portfolio.
According to a Cisco blog, CloudLock has garnered more than 700 customers in less than five years.
The CloudLock team will join Cisco’s Networking and Security Business Group under SVP and general manager, David Goeckeler. Goeckeler’s role was recently expanded to encompass Cisco’s networking and security business group.
The acquisition is expected to close in the first quarter of fiscal year 2017, subject to customary closing conditions.