Cisco to buy ScanSafe for $183 Million

By SiliconIndia   |   Wednesday, 28 October 2009, 02:50 Hrs
Printer Print Email Email
Cisco to buy ScanSafe for $183 Million
Boston: Cisco Systems has announced to buy the privately held Web security company ScanSafe for about $183 million, a move that will intensify its battle with security giants Symantec and McAfee. ScanSafe sells Web-based services that protect business computer networks and PCs from hackers, saving companies the cost of buying and installing software on their own equipment.

The top two security software companies, Symantec and McAfee, already sell such products, which are known as "cloud" services and whose sales are growing at a far faster clip than traditional software. As reported by Reuters, Cisco announced the deal on Tuesday, saying that the transaction is expected to close in its fiscal second quarter that ends in January 2010. The $183 million price tag includes cash and retention-based incentives, as per Cisco.

The deal helps Cisco expand its security portfolio, which includes email and Web security software company IronPort that it bought in 2007. San Jose, California-based Cisco has recently stepped up its pace of acquisitions. It announced deals for wireless equipment maker Starent Networks for $2.9 billion and Norwegian video conferencing maker Tandberg for $3 billion. Chief Executive John Chambers has said that he was looking to do more.

SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..