Cisco today said it would make its fifth acquisition of the year by acquiring cyber security provider CloudLock for $293 million.
The move should bolster Cisco’s overarching cloud security offerings and the CloudLock team will join Cisco’s Networking and Security Business Group under Senior Vice President and General Manager David Goeckeler, Cisco stated.
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In a blog post announcing the deal, Cisco’s Rob Salvagno, vice president of Cisco Corporate Business Development, said: “CloudLock specializes in Cloud Access Security Broker, or CASB, technology and helps organizations move faster to the cloud.
CloudLock delivers cloud security to help track and manage user behavior and sensitive data in SaaS applications, such as Office365, Google Drive, and Salesforce. Enterprise IT can then enforce a granular security policy within these cloud applications.
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 – essentially, ‘security anywhere, anytime’ for content in the cloud. CloudLock extends these security controls to the IaaS and PaaS layers as well.”
In a crowded market of cloud access security broker vendors, CloudLock has built a powerful go-to-market engine that has managed to grow to attract over 700 customers, including Fortune 500 companies, in less than five years, Salvagno said.
“CloudLock brings a unique cloud-native, platform and API-based approach to cloud security which allows them to build powerful security solutions that are easy to deploy and simple to manage.”
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The founders of CloudLock, Tsahy Shapsa and Gil Zimmerman, both served in the Israeli Defense Forces, and Shapsa served in the Israeli Prime Minister’s office as a security team leader.
Zimmerman was entrepreneur-in-residence at VC firm Cedar Fund before co-founding CloudLock. Before that, he held positions at Sun and EMC. Shapsa is formerly of Sun and Network Appliances.
“’Buy’” has been a key part of our innovation strategy, alongside significant internal product development, to drive towards a fully integrated security portfolio. We have expanded our security footprint with milestone acquisitions including Lancope, OpenDNS, Sourcefire,” Salvagno stated.