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By | Kat Hall 28th June 2016 15:37

Cisco to splash $293m on CloudLock

Security firm sniffs out cloudy user behaviour and more

Cisco has beefed up its security services unit with the acquisition of CloudLock for $293m (£220m).

CloudLock specialises in cloud access security tech, offering enterprises analytics on user behavior and sensitive data for cloud services, including SaaS, IaaS and PaaS.

The acquisition is expected to close in the first quarter of fiscal year 2017, when the CloudLock team will join Cisco’s Networking and Security Business Group under senior veep and general manager David Goeckeler.

Cisco will pay the sum in cash and equity plus additional "retention-based incentives" for CloudLock employees who join Cisco, said the biz

Rob Salvagno, veep of Cisco Corporate Development, said the acquisition will boost security for companies seeking to migrate to the cloud.

The acquisition of the Massachusetts-based startup is just the latest in the kit-maker's buying spree of cloudy security outfits.

Just last year Cisco swallowed US-based Lancope for $452m (£340m), UK-based Portcullis Computer Security for an undisclosed sum, and US-based OpenDNS for $635m (£476m).

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