Cisco, Tuesday announced its intent to acquire CloudLock, a privately held cloud security company based in Waltham, Massachusetts for $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 is expected to further enhance Cisco's cloud security portfolio and build on Cisco's Security Everywhere strategy, designed to provide protection from the cloud to the network to the endpoint. The CloudLock team will join Cisco's Networking and Security Business Group under Senior Vice President and General Manager David Goeckeler.
According to CloudLock, its CASB technology helps customers understand and monitor user behavior and sensitive data in cloud applications, providing greater visibility, compliance and threat protection regardless of whether these applications are fully sanctioned by IT or not. More data, more devices, and the increasingly decentralized way companies do business means that security has to evolve beyond an on-premises approach, said the company.