NEW YORK (Reuters) – AT&T Inc said on Tuesday that it has agreed to buy privately held Silicon Valley-based startup AlienVault, allowing the telecommunications giant to expand its line of cybersecurity products targeted at small and medium businesses.
The companies did not disclose the value of the deal, which they said they expect to close in the third quarter.
AT&T is buying AlienVault as large telecommunications and technology companies including Cisco Systems Inc, International Business Machines Corp and Verizon Communications Inc expand sales of cybersecurity products, among the fastest growing segments of the technology industry.
San Mateo-based AlienVault raised $52 million in 2015, bringing total funding to about $116 million, according to a press release on its website. Investors included Intel Capital, Kleiner Perkins Caufield & Byers and Trident Capital.
Reporting by Angela Moon; Editing by Jim Finkle and Frances Kerry