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McAfee to buy Campbell cybersecurity company last valued at about $400M

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Today McAfee announced that it has agreed to acquire Skyhigh Networks Inc., however, the amount has not yet been disclosed for the cybersecurity business.

Campbell-based Skyhigh had raised more than $106 million in venture funding and was valued at about $400 million after its last round in 2016, according to PitchBook Data. Its investors include Thomvest Ventures, Sequoia Capital, Greylock Partners and Salesforce Ventures.

The move came about roughly eight months after McAfee was spun out of Intel Corp. Intel got $3.1 billion but kept a 49 percent stake in the new company.

“Skyhigh Networks had the foresight five years ago to realize that cybersecurity for cloud environments could not be an impediment to, or afterthought of, cloud adoption,” Young said in the deal’s announcement. “They pioneered an entirely new product category called cloud access security broker (CASB) that analysts describe as one of the fastest growing areas of information security investments of the last five years – where Skyhigh continues to innovate and lead.”

Gupta said of the deal: “McAfee will provide global scale to further accelerate Skyhigh’s growth, with the combined company providing leading technologies and solutions across cloud and endpoint security – categories Skyhigh and McAfee respectively helped create, and the two architectural control points for enterprise security.”

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