Cisco sets out plans to acquire Valtix to bolster cloud security


Cisco, a cloud and cybersecurity solutions provider, is planning to acquire Valtix, an early-stage Silicon Valley startup in the cloud network security business.

According to a report from Security Week, financial terms of the deal were not released.

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 forms part of Cisco’s ambitions in the multi-cloud network security business and Chopra pinpointed the advantage of having technology to monitor traffic flowing through corporate applications.

Valtix’s platform provides automated cloud application discovery, security deployment, and application defense capabilities.

Chopra said, “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,”

Cisco expects the transaction to close in the third quarter this year when Valtix will be folded into its Security Business Group.

Last year, a report by Forrester found that up to 75% of respondents struggle with securing their cloud environments.

According to CyberNews, almost 50% of firms said that they believe overlooking cloud security will lead to heightened vulnerability and delayed response to breaches, while 65% consider it crucial to ensure the environment’s proper safety.

Only 39% of respondents said they have a clear and periodically updated cloud security while just over half – 56% said they lacked a holistic approach.

Keep up with all the latest FinTech news here.

Copyright © 2023 FinTech Global

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.