Gigamon, the Santa Clara-based IT security company, announces that it will acquire ICEBRG, a Seattle-based cybersecurity startup. The deal was announced on Tuesday.
The terms of the deal were not disclosed, though, according to a media report, it values the Seattle-based startup at roughly $100 million.
“The ICEBRG deal gives Gigamon more expertise in cybersecurity and takes it more into the world of subscription software,” said Paul Hopper, Chief Executive, Gigamon.
Gigamon is considering pursuing deals of all sizes, including moving into other security areas and buying public companies, according to the media report.
“There will be more acquisitions. The valuations in security are starting to get more realistic,” Mr. Hooper said.
“While the ICEBRG deal is a small acquisition and the first for Gigamon, it marks the start of a new M&A strategy for the Santa Clara, California-based company,” he added.
The cybersecurity startup, ICEBRG was incorporated in 2014. Two of the founders Will Peteroy and Josh Carlson were former workers at the U.S. Department of defence and Microsoft Corporation. The company helps to detect and respond to severe threats in corporate and government networks by using analytics to track sensors it installs.