Cisco's appetite for cloud technology and talent has not abated. Today they announced another acquisition, one that will boost the company's security portfolio. The bellweather technology giant has announced its intent to buy CloudLock, Inc.
CloudLock specializes in cloud access security broker (CASB) technology. CASB is a wrapper around four main pieces of security capability needed by enterprises to keep their cloud data safe yet accessible: visibility, compliance, data security, and threat protection. CloudLock's solution is aimed at all clouds, from public to hybrid to private, and thus from Cisco's point of view keeps the addressable market as wide as possible. And of course it also brings the company's talent base in-house, as the CloudLock team will join Cisco's Networking and Security Business Group.
Cisco will be paying $293M in cash plus various adjustments to make the deal happen, a not insignificant sum unless one has the resources that Cisco has. The deal is expected to close in the first quarter of Cisco's fiscal 2017. If you don't happen to keep up with when Cisco's fiscal year starts, that would be sometime in August, September, or October of 2016.