Cisco announced its intent to buy cloud security company OpenDNS for $635 million this morning. It’s probably not a coincidence that Cisco was one of its investors in a $35 million round in May, 2014.
The $635 million will be paid in cash and assumed equity awards, plus retention based incentives for OpenDNS, according to information supplied by Cisco.
OpenDNS gives Cisco, a network vendor that offers more traditional network edge protection, a Software as a Service vendor that provides security on the move to any device, anywhere, anytime. The purchase builds on Cisco’s strategy to add a cloud security layer, according to a blog post by Hilton Romanski, who leads business development at Cisco.
“The acquisition will extend our ability to provide customers enhanced visibility and threat protection for unmonitored and potentially unsecure entry points into the network, and to quickly and efficiently deploy and integrate these capabilities as part of their defense architecture,” Romanski wrote in in his blog post.
OpenDNS has raised $51.3 million, according to Crunchbase, so the $635 million price tag should offer investors a nice return.
David Ulevitch, founder and CEO was up early this morning and clearly excited about the deal, but was unwilling to comment on the story, referring me to the Cisco communications people.
The OpenDNS team will join the Cisco Security Business Group. The deal is expected to be finalized during the first quarter of fiscal 2016.
This article has been extracted from http://techcrunch.com, please click on this link to read the article in full http://techcrunch.com/2015/06/30/cisco-to-buy-cloud-security-company-opendns-for-635m-in-cash/
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