Cisco announced a definitive agreement to acquire privately-held security company, Protego Networks.
The ability of Protego's products to detect, correlate and mitigate threats in the network extends Cisco's Self-Defending Network initiative.
Under the terms of the agreement, Cisco will pay approximately $65 million in cash for Protego. The acquisition is subject to various standard closing conditions and is expected to close in the second quarter of Cisco's fiscal year 2005, which ends on January 29, 2005.
"Cisco is committed to providing customers with end-to-end, multi-layered, and integrated security and Cisco's Self-Defending Network initiative builds proactive and advanced security capabilities directly into the network," said Richard Palmer, Vice President in Cisco's Security Technology Group. "The acquisition of Protego further emphasizes Cisco's commitment to network security and their leadership in security monitoring, threat management and mitigation complements our ongoing work in security."
Protego is currently a member of Cisco's AVVID partner program and the companies have been successfully working together to sell security products to customers. The Protego team will be integrated into Cisco's Security Technology Group. Protego was founded in 2002 and has 38 employees.
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