Cisco Skips Shopaholics Anonymous Meeting, Acquires ScanSafe
It’s beginning to look like Cisco suffers from a compulsive-buying disorder. In early October, the company spent $3 billion on videoconferencing system maker Tandberg. A few weeks later it acquired wireless infrastructure outfit Starent Networks (STAR) for $2.9 billion. And now it’s buying ScanSafe as well.
This morning, Cisco (CSCO) announced plans to purchase the software-as-a-service security vendor for roughly $183 million in a bid to expand its Web security portfolio both on-premises and in the cloud. Among ScanSafe’s clients: Google (GOOG), AT&T (T) and Sprint (S).
“With the acquisition of ScanSafe, Cisco is executing on our vision to build a borderless network security architecture that combines network and cloud-based services for advanced security enforcement,” said Tom Gillis, vice president and general manager of Cisco’s Security Technology Business Unit, in a statement. “Cisco will provide customers the flexibility to choose the deployment model that best suits their organization and deliver anytime, anywhere protection against Web-based threats.”
Expected to close in the second quarter of 2010, the deal–Cisco’s sixth acquisition of the year–comes on the heels of the Barracuda Networks acquisition of security SAAS vendor Purewire.