McAfee inks deal to acquire Skyhigh Networks
McAfee inks deal to acquire Skyhigh Networks

McAfee has agreed to acquire Skyhigh Networks in move that McAfee believes will help boost its presence in the cloud access security broker market.

The financials details of the deal were not announced, but Crunchbase sets Skyhigh's total funding amount at $106.5 million. McAfee CEO Christopher Young said in a written statement that he welcome's Skyhigh's employees to the McAfee family. No mention was made of how the transition will affect Skyhigh's executive team.

“Skyhigh is an ideal complement to McAfee's strategy—one focused on building and optimizing mission-critical cybersecurity environments for the future. Skyhigh had this prescience five years ago, when it distinguished itself as the first cybersecurity provider to launch what is now a burgeoning CASB category. They purpose-built a cloud platform for both frictionless experiences and coordinated control,” Young said.

The closing date for the deal was not revealed.