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Cisco to Buy API Outfit CloudLock

By Paula Bernier
June 28, 2016

It seems it really is all about the API these days.

Just last week API company Twilio made its stock market debut with a valuation of $1.2 billion. And today Cisco Systems announced its intention to buy application programming interface company CloudLock for $293 million.

The cash and equity deal will give Cisco ownership of what is now a privately held company out of Waltham, Mass., that specializes in cloud access security broker technology. That technology provides enterprises with analytics and visibility related to user behavior and data in their cloud services.

“As companies are migrating to the cloud, they need a technology partner that can accelerate that transition and deliver critical security capabilities for all their users, apps, and data in a seamless way,” said Rob Salvagno, vice president of Cisco Corporate Development. “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.”

The CloudLock APIs enable enterprises to apply and monitor security on documents and other content. The company’s technology enforces policies and otherwise secures the documents. The CloudLock solution works with Office 365, Google Drive, and Salesforce applications, according to a TechCrunch piece on the deal.

In addition to products and technology, CloudLock brings 700 customers to the table. During the company’s lifetime, CloudLock leadership has raised $35 million in funding from the likes of Bessemer Venture Partners and Salesforce.

Following the close of the deal CloudLock will become part of Cisco’s Networking and Security Business. David Goeckeler leads that group at Cisco.

The news of CloudLock’s acquisition by Cisco follows by just a couple weeks CloudLock CyberLab’s release of a study about the risks of connected third-party applications. In it, the company notes that the number of connected third-party apps has increased by 30 times in two years and that 27 percent of apps connected to corporate environments are high risk.

If you’re interested in learning more about why Cisco bought CloudLock, Twilio hit a valuation above $1 billion, and everybody is talking about the importance of APIs, join us for the All About the API event July 19 through 21 at Caesars Palace in Las Vegas.

Edited by Stefania Viscusi

Executive Editor, TMC

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