Cisco to Buy OpenDNS for N126bn
Cisco Systems said it would buy OpenDNS www.opendns.com, a privately own cloud-based security firm, for $635 million (N126Bn), as a move to boost its security business as cyber-attacks increase in number and sophistication.
Cisco has been buying a number of security companies, which has made its relatively tiny security business one of its fastest growing areas in the past two years. OpenDNS uses predictive intelligence to block malware, botnets and phishing threats that antivirus and firewalls miss. Cisco was a minority investor and was one of the backers that invested $35 million (N7bn) in OpenDNS last year.
Mergers and Acquisition (M&A) will continue to be an important part of what we do,” said Hilton Romanski, Cisco’s Chief Technology and Strategy Officer, adding that the M&A strategy of being an active investor and potential acquirer will continue under Robbins.
We are going to continue to focus on deals that allow us to complement what we have done with Sourcefire in the area of intrusion prevention and we’ll continue to look at malware and other key verticals inside the security domain, Romanski said.