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Comments Off on Cisco to buy cloud security specialist CloudLock

Cisco to buy cloud security specialist CloudLock

Posted by Admin | June 29, 2016 | IT Security

Cisco announced its intent to acquire CloudLock, a privately held cloud security company based in Massachusetts, for USD 293 million. CloudLock specializes in cloud access security broker (CASB) technology that provides enterprises with visibility and analytics around user behavior and sensitive data in cloud services, including SaaS, IaaS and PaaS. The acquisition will further enhance Cisco’s security portfolio and build on Cisco’s Security Everywhere strategy, designed to provide protection from the cloud to the network to the endpoint, the company said.

CloudLock delivers cloud security to help track and manage user behavior and sensitive data in SaaS applications, such as Office365, Google Drive and Salesforce. 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. CloudLock extends these security controls to the IaaS and PaaS layers as well. It has grown to over 700 customers, including Fortune 500 companies, in less than five years. 

The purchase price includes assumed equity awards, plus additional retention-based incentives for CloudLock employees who join Cisco. The acquisition is expected to close by the end of October.

Source: telecompaper

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