Blue Coat Systems will acquire San Jose, Calif.-based Elastica, a cloud security startup founded in 2012, for $280 million.

Elastica, which provides threat analysis and remediation of cloud applications, raised $36 million from Third Point Ventures, the Mayfield Fund, BYU Cougar Capital, and Pelion Venture. Elastica CEO Rehan Jalil's previous venture WiChorus, a wireless packet core specialist, was acquired by Tellabs in 2009.

“Segmented CASB players have survived through their dependency upon existing onpremise infrastructure.” said Blue Coat CEO Greg Clark, in a statement.

Last month, Microsoft acquired Adallom, an Elastica competitor for $320 million. Also last month, Cisco announced plans to acquire Lancope for $452 million in cash and equity.

In March, Blue Coat Systems was acquired by Bain Capital, the private equity firm founded by Bill Bain and Mitt Romney.