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Cisco to buy ScanSafe for $183 million
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SAN JOSE - Cisco Systems Inc. plans to buy Web security company ScanSafe Inc. in deal worth $183 million, the networking gear maker said on Tuesday.
Based in London and San Francisco, ScanSafe provides Web security services to businesses. Cisco said the Web security market is expected to grow to $2.3 billion by 2012, and buying privately held ScanSafe will expand its portfolio of security products and services.
Cisco said will pay about $183 million in cash and retention-based incentives.
The deal is expected to close in Cisco's fiscal second quarter, which ends in January.
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