Skyhigh Networks, a US-based cloud technology developer backed by enterprise software producer Salesforce, yesterday agreed to be acquired by cybersecurity company McAfee.
Financial terms of the transaction have not been disclosed. Skyhigh’s existing organisational structure will remain mostly intact, but it will be integrated into McAfee’s product portfolio. Rajiv Gupta, chief executive of Skyhigh, will join McAfee’s new cloud business unit.
Skyhigh has created a platform for enterprise users to securely implement cloud environments. The platform ensures policies are enforced both in and outside of the cloud and is able to prevent cyber threats.
Skyhigh had raised approximately $105m in funding. It most recently closed a $40m series D round led by Thomvest Ventures in September 2016, with contributions from Sequoia Capital and Greylock Partners.
Salesforce Ventures, the corporate venture capital arm of Salesforce, contributed to a $40m series C round in 2014 alongside Sequoia and Greylock, the latter two having also taken part in a $20m series B round in 2013.
Gupta said: “Becoming part of McAfee is the ideal next step in realising Skyhigh Networks’ vision of not simply making the cloud secure, but making it the most secure environment for business.
“McAfee will provide global scale to further accelerate Skyhigh’s growth, with the combined company providing leading technologies and solutions across cloud and endpoint security – categories Skyhigh and McAfee respectively helped create, and the two architectural control points for enterprise security.”