Cisco buys cloud security startup CloudLock for $293 million

Cisco is aiming to boost its security portfolio with the acquisition of CloudLock. Based in Waltham, Massachusetts, CloudLock uses an API approach to cloud access security in order to give enterprises granular control over content that is shared and stored in cloud-based apps. The platform works with SaaS apps such as Office365, Google Drive, and Salesforce, among others.

Cisco said it plans to use CloudLock to further its security strategy for enterprise IT, which looks to "provide protection from the cloud to the network to the endpoint". CloudLock will join Cisco's networking and security business group under Senior Vice President David Goeckeler.

The CloudLock deal is just the latest in a long line of security-based acquisitions by Cisco. It's also acquired security software maker Sourcefire, cybersecurity firm Lancope, and threat protection security firm OpenDNS, just to name a few. Combined, Cisco's purchases have stitched together an enterprise IT play with a strong bent on cloud and network security.

According to Cisco, the strategy is paying off -- the company has had three quarters of consecutive revenue growth in its security business.

"'Buy' has been a key part of our innovation strategy, alongside significant internal product development, to drive towards a fully integrated security portfolio," said Rob Salvagno, head of Cisco's M&A and venture investment team, in a blog post.

Cisco said the CloudLock deal is expected to close by November.

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