California global security software company McAfee has made its first acquisition since spinning out of Intel, with the purchase of cloud security specialist Skyhigh Networks. Although no financial details were revealed, Skyhigh was valued at approximately $400m following a recent funding round. McAfee CEO Chris Young praised the firm's cloud access security broker product, dubbed by analysts as "one of the fastest-growing areas of information security investments of the past five years". The deal is expected to close in early 2015, and will see McAfee's existing business continue operating under the name Skyhigh.
California global security software company McAfee has made its first acquisition since spinning out of Intel, with the purchase of cloud security specialist Skyhigh Networks. Although no financial details were revealed, Skyhigh was valued at approximately $400m following a recent funding round. McAfee CEO Chris Young praised the firm's cloud access security broker product, dubbed by analysts as "one of the fastest-growing areas of information security investments of the past five years". McAfee was valued at $4.2bn at the time it separated from Intel in April.