This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Cisco Buys Cloud Security Shop

Stocks in this article: CSCO

(Updates with Cisco's closing stock price)

NEW YORK ( TheStreet) -- Cisco (CSCO - Get Report) sticks to the acquisition path with a $183 million all-cash purchase of closely held ScanSafe, its third deal in the past month.

ScanSafe makes network-based security software for businesses looking to manage data connections between offices and workers. The company, based in San Francisco and London, was founded in 1999 by two investment banking brothers, Eldar and Roy Tuvey.

ScanSafe has 150 employees and includes Google (GOOG), AT&T (T - Get Report) and Sprint (S) among its customers. ScanSafe is among a roster of companies that make so-called software-as-a-service products that provide service from the network or cloud instead of applications installed on computers.

Cisco says it plans to add ScanSafe security and filtering products to its virtual private network services.

Earlier this month, Cisco agreed to acquire Norwegian video-conferencing specialist Tandberg for $3 billion. And two weeks ago, Cisco made a $2.9 billion deal for wireless gearmaker Starent (STAR - Get Report).

Despite the recent flurry of activity, ScanSafe is only Cisco's sixth acquisition of the year, one more than last year, but lagging its 11 acquisitions in 2007.

Cisco shares ended Tuesday's trading session down 0.7% to $23.54.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs