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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.
Copyright 2009 Reuters. Click for restrictions.
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