Cisco is dipping into the acquisition pool to beef up its cybersecurity portfolio with plans to acquire Valtix, an early-stage Silicon Valley startup in the cloud network security business.
Financial terms of the deal were not released. Valtix, a Series A startup that emerged from stealth four years ago, raised $26.5 million in venture capital financing.
In a note announcing the acquisition plans, Cisco Security’s chief product officer Raj Chopra said the Valtix technology fits into its vision to deliver “a global, cloud-delivered, integrated networking and security platform for organizations of any shape and size.”
Cisco took a strategic investment in Valtix in 2020 and Chopra said the company has built a product to simplify network security and protect workloads no matter which cloud they are created or consumed in.
The acquisition fits into Cisco’s ambitions in the lucrative multi-cloud network security business and Chopra pinpointed the advantage of having technology to monitor traffic flowing through corporate applications.
“Across these multiple clouds, one thing stitches all of this together: the network. It is the one place that sees all the traffic that flows between applications and from applications to users, and therefore, is the only place where you have the visibility, telemetry, and policy enforcement needed for consolidated, consistent security,” Chopra said.
Valtix created a platform that provides automated cloud application discovery, security deployment, and application defense capabilities. Last January, the company said it scored customers in the financial services, government, healthcare, and retail sectors.
Cisco expects the transaction to close in the third quarter this year when Valtix will be folded into its Security Business Group.
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