Cisco Systems, Inc. (NASDAQ:CSCO), better known for offering world-class tech products and services, announced that it had acquired Lancope in a cash plus equity deal. Reports claim that Cisco paid around $452.5 million in cash, in addition to retention based incentives and equity awards.
Insights of The Matter
Lancope is a renowned private company based in Alpharetta, GA, and offers network visibility, network behavior analytics, and security intelligence to protect companies against rapidly increasing threats. Cisco is known for supporting Security Everywhere strategy, and Lancope can help it maintain a market leader status by enabling its network to deliver continuous visibility, security and enhanced incident response.
As part of this deal, the management team of Lancope will join Cisco’s Security Business Group, which is led by company’s General Manager & Senior Vice President, and one of the well-known industry veterans David Goeckeler. The senior management team of Cisco is delighted to announce this news to all the shareholders and hopes that this acquisition will help the company touch many new heights in the coming months.
Strengthening Cybersecurity Threat Defense
Cisco has been trying very hard to strengthen its cybersecurity defense capabilities for a long time by taking different initiatives; this deal is a part of series of initiatives that Cisco had decided to execute.
Over the next five years or so, more than 50 billion devices will come online, giving hackers a chance to exploit the security boundaries and steal important data. Cisco Systems, Inc. (NASDAQ:CSCO) is poised to address such safety hazard through its product and services in such a way that users can feel protected all the time. It tends to protect data centers, mobile devices, cloud and all the other network points that are vulnerable to hackers.
Both the companies look forward to having a wonderful association and coming up with world class security solutions that can help users protect their online data.