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. For one, the issue of cybersecurity has become one of the most persistent in the market today, with malicious hacking a nightmare not just for businesses but individuals as more and more of our personal and not-so-personal information becoming digitised and moving to the cloud, putting it in the reach of both criminals and destructive pranksters. 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". The deal is expected to close in early 2015, and will see McAfee's existing business continue operating under the name Skyhigh.