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Cisco to acquire API-based security startup CloudLock for $293M

TechCrunch TechCrunch 28/06/2016 Ingrid Lunden

Twilio isn’t the only company that is banking on API-based services as the way forward for enterprises. Today, Cisco announced that it plans to pay $293 million in a mix of cash and equity to acquire CloudLock, a cloud-based security provider that uses APIs to let enterprises apply and monitor security over documents and other content that they share and store in cloud-based applications.

Its service works with Office365, Google Drive, and Salesforce applications, among others; and its focus is on offering security and enforcing policies to protect documents based on device used to access it, and your location.

In that regard, CloudLock tapping into another big trend beyond the use of APIs to implement services: that of “consumerization in IT”, where people are using their own (unsecured) devices for work purposes, and in a range of environments from their homes to places where they are connecting by (unsecured) public WiFI networks. The company has more than 700 customers, Cisco says.

CloudLock’s employees will join Cisco’s Networking and Security Business led by SVP and GM David Goeckeler.

While Cisco has built its reputation in sever architecture and server services, this is part of the company’s other play in enterprise IT where it’s chosen to grow inorganically.

“‘Buy’ has been a key part of our innovation strategy, alongside significant internal product development, to drive towards a fully integrated security portfolio,” noted Rob Salvagno in a blog post announcing the news. The company has made several other acquisitions in the security space, including Lancope, OpenDNS, and Sourcefire.

Prior to this, CloudLock had raised $35 million in funding with investors including Salesforce, Bessemer Venture Partners and others.

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