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Cisco to acquire SaaS web security provider ScanSafe

Oct 29, 2009 (M2 EQUITYBITES via COMTEX) --

Company: Cisco Systems, Inc. (CSCO)

Networking company Cisco Systems Inc (NASDAQ:CSCO) reported on Tuesday that it intends to acquire ScanSafe Inc, a provider of software-as-a-service (SaaS) web security solutions.

Under the agreement Cisco will pay approximately USD183m in cash and retention-based incentives.

Cisco said that this move builds on its successful acquisition of on-premise content security provider IronPort and will expand the company's security portfolio to offer on-premise, hosted and hybrid-hosted web security solutions.

The deal is subject to closing conditions but is expected to be completed in the second quarter of Cisco's fiscal year 2010. 

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News Provided by COMTEX

Company: Cisco Systems, Inc. (CSCO)


Related terms: acquisition, nasdaq, networking, security, software, web

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