Cisco Systems is to acquire privately-held Okena of Waltham, MA, a developer of network security software.
Under the terms of the agreement, Cisco common stock worth an aggregate value of approximately $154 million will be exchanged for all outstanding shares and options of Okena.
The acquisition of Okena is expected to close in the third quarter of Cisco’s fiscal year. The acquisition has been approved by the board of directors of each company and is subject to various closing conditions.
Okena’s technology extends beyond conventional desktop and server security solutions. Rather than relying on signature-based techniques, Okena technology intercepts all operating system, file system, configuration, registry, and network requests, preventing malicious activity from occurring.
Okena was founded in 1999. Okena’s 52 employees will join the Cisco Virtual Private Network and Security Business Unit under the direction of Richard Palmer.