Networking giant Cisco agreed to acquire anti-spam and spyware security company IronPort Systems for $830 million in cash and stock.
Ironport, of San Bruno, Calif., soaked up about $100 million from its founding in 2000, so this is a big win for its ten investors.
They include New Enterprise Associates, the big Silicon Valley venture capital firm, which invested $18 million into the company two years ago. Others are Allegis Capital, Amicus, Menlo Ventures, Chevron Corp., General Motors, NTT DoCoMo, Rembrant Venture Partners, Starter Fluid and Western Technology Investment.
It is just the latest move by Cisco to offer large corporate customers a full suite of security products.
IronPort was founded by Scott Weiss (pictured here), chief executive, in 2000 after he left Microsoft. IronPort became known for its controversial approach of serving both senders and receivers of email, which it justified because it gave it greater insight into spam and how to avoid it — and let it create a directory of certified emailers adhering to certain standards.
One Trackback
2:43 pm
Nudity-friendly site Zivity gets $7 million to compete with MySpace, sort of » VentureBeat said:
[...] Scott Banister — who previously co-founded the decidedly non-sexy Ironport Systems and helped sell it for $830 million last year — repeatedly referred to MySpace’s policy of removing any sort of nudity from its [...]