Cisco to Acquire Cloud Security Firm CloudLock for $293M

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Cisco has agreed to acquire cloud access security broker CloudLock for $293 million in cash and equity, bringing the team under its networking and security business group, the networking giant announced this week.

CloudLock is based in Waltham, Massachusetts, and claims to have more than 700 customers with tens of millions of users under management. CloudLock said the deal will not impact existing partners.

“As enterprises are retooling themselves and increasingly building their futures in the cloud, security has not only become a top business priority, it is now universally demanded by businesses and individuals alike, as a necessity to keep their cloud applications, their data, and their businesses safe,” CloudLock co-founder and CEO, Gil Zimmerman, said in a statement.

The deal comes shortly after Cisco acquired CliQr to add its application-defined cloud orchestration platform.

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