June 28, 2016 | Cisco Systems Inc. is set to acquire Israeli cloud security company CloudLock Inc.. Cisco will pay $293 million in cash and assumed equity awards, plus additional retention-based incentives for CloudLock employees who join Cisco. The acquisition is expected to close in the first quarter of fiscal year 2017. Based in Waltham, Massachusetts and with a development center in Tel Aviv, CloudLock was founded in 2011 by CEO Gil Zimmermann, CTO Ron Zalkind and VP business development Tsahy Shapsa. The company has raised $39 million to date and has 150 employees, 30 of them in Israel. CloudLock’s team will join Cisco’s Networking and Security Business Group under SVP and General Manager David Goeckeler. This will be Cisco’s 13th acquisition of an Israeli company.