SAN JOSE, Calif. (AP) – Network equipment maker Cisco Systems Inc. said Thursday it has agreed to acquire privately held software maker Securent Inc. for about $100 million in cash and assumed options.
Cisco said Securent's platform allows businesses to administer, enforce, and audit access to data, communications, and applications regardless of vendor, platform, or operating system.
Securent has 57 employees and is headquartered in Mountain View, Calif., with development operations in Hyderabad, India. Securent's team and technology is expected to move into Cisco's collaboration software group, which is led by Senior Vice President Don Proctor.
The acquisition is expected to close in the second quarter of fiscal year 2008, pending standard closing conditions.
Cisco fell 26 cents to $32.80 in premarket trading, after closing Wednesday at $33.06.
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peHUB note: Securent has raised a $6.07 million Series A round last year from Greylock Partners and Onset Ventures.
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