YEC member company CloudLock, a leading cloud-based security provider, is being acquired by global technology company Cisco for $293 million in cash and equity.
Cisco is also offering retention-based incentives for CloudLock employees who join the technology giant.
Led by YEC member Gil Zimmermann, CloudLock protects companies from compromised accounts, cloud malware, and data breaches in the cloud. According to Cisco, the acquisition will "further enhance Cisco’s security portfolio and build on Cisco’s Security Everywhere strategy, designed to provide protection from the cloud to the network to the endpoint."
Prior to the acquisition, Massachusetts-based CloudLock raised nearly $35 million from investors like Bessemer Venture Partners, Salesforce's venture funds and Boston-based Ascent Venture Partners.
Read more about the acquisition on Cisco's press release.