Cisco to Acquire SaaS Security Firm ScanSafe

Tuesday Oct 27th 2009 by - Reuters

ScanSafe offers a software-as-a-service (SaaS) model where applications are licensed to companies for on-demand use.

NEW YORK (Reuters) - Cisco Systems said on Tuesday that it would buy privately held security software company ScanSafe for about $183 million to expand in a fast-growing segment of the Web-based security market.

Cisco said the deal, whose price tag includes cash and retention-based incentives, would close, subject to various conditions, in the second quarter of its 2010 fiscal year.

ScanSafe provides a wide range of companies, including small businesses and global enterprises, with software-as-a-service (SaaS), a model of software deployment where applications are licensed to customers for use as a service on demand. SaaS software vendors may host the application on their own Web servers or download the application to the consumer device.

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