SECURITY OUTFIT McAfee has announced it's acquiring Skyhigh Networks in a bid to bolster its new cloud business unit.
McAfee, which is once again standalone company after it was spun out from Intel in a deal with TPG eight months ago, said the deal will allow it to develop a more advanced cybersecurity architecture that covers endpoint and cloud control points.
Terms of the buyout were not disclosed, but Skyhigh Networks was last valued at $400m, according to TechCrunch.
It was confirmed however that, as part of the deal, Skyhigh CEO Rajiv Gupta will join McAfee CEO Chris Young's leadership team and will be responsible for running the company's cloud business unit.
Skyhigh's existing organisational structure will remain the same, ensuring there's a degree of continuity for customers and partners.
Chris Young, CEO of McAfee, said the deal will strengthen his company's position in the cloud security market.
"Skyhigh Networks had the foresight five years ago to realise that cybersecurity for cloud environments could not be an impediment to, or afterthought of, cloud adoption," he said.
"They pioneered an entirely new product category called cloud access security broker (CASB) that analysts describe as one of the fastest growing areas of information security investments of the last five years - where Skyhigh continues to innovate and lead.
"Skyhigh's leadership in cloud security, combined with McAfee's security portfolio strength, will set the company apart in helping organizations operate freely and securely to reach their full potential."
Gupta added: "Becoming part of McAfee is the ideal next step in realizing Skyhigh Networks' vision of not simply making the cloud secure, but making it the most secure environment for business.
"McAfee will provide global scale to further accelerate Skyhigh's growth, with the combined company providing leading technologies and solutions across cloud and endpoint security - categories Skyhigh and McAfee respectively helped create, and the two architectural control points for enterprise security." µ
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