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INTERNET | Internet Software & Services / Monitoring & Security
skyhighnetworks.com

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Stage

Acquired | Acquired

Total Raised

$106.5M

Valuation

$0000 

About Skyhigh Networks

Skyhigh Networks, the cloud security and enablement company, allows enterprises to safely adopt cloud services while meeting their security, compliance, and governance requirements.

Skyhigh Networks Headquarter Location

900 E. Hamilton Ave Suite 400

Campbell, California, 95008,

United States

866-727-8383

Latest Skyhigh Networks News

McAfee eyeing more M&A after offloading enterprise biz

May 6, 2021

McAfee eyeing more M&A after offloading enterprise biz By Michael Novinson on May 5, 2021 10:53AM In The Spotlight McAfee will continue to examine acquisition opportunities that provide greater breadth or competitive differentiation as the company transitions into being a pure-play consumer cybersecurity vendor. The company said its US$25 million purchase of consumer VPN provider TunnelBear in February 2018 has served McAfee really well, according to President and CEO Peter Leav. The company will free up US$4 billion from the sale of its enterprise business to private equity firm Symphony Technology Group (STG), which was announced March 8 and is expected to close by the end of 2021. “The market is arguably a bit frothy, but we will over time continue to look at those opportunities,” Leav told Wall Street analysts Tuesday. “We’ll continue to look at things that potentially broaden and also create an opportunity for us to bring more differentiation to the market. McAfee has made five acquisitions since the company was spun out from Intel in April 2017, but all the purchases except for TunnelBear were directed toward the company’s US$1.33 billion enterprise division rather than its US$1.56 billion consumer business. The enterprise business will be rebranded in the coming months, while the consumer division will continue to be publicly traded under the McAfee name. The four enterprise-focused transactions include: the US$590 million buy of cloud access security broker Skyhigh Networks in January 2018; the purchase of zero-trust application platform Nanosec in August 2019; the acquisition of predictive security analytics platform Uplevel Security in September 2019; and the buy of browser isolation firm Light Point Security in February 2020. McAfee has done a very effective job when it comes to managing its use of capital, and Leav said the company has no intention of changing that as it pursues future M&A opportunities. “We’re going to look at things that make sense,” Leav told Wall Street analysts. “So it’s absolutely not off the table, but we’ll continue to be very responsible.” Sales for the quarter ended March 27 climbed to US$773 million, up 12.8 percent from US$685 million a year earlier. That crushed Seeking Alpha estimates of US$732.6 million. Net income skyrocketed to US$94 million, or US$0.18 per diluted share, up sharply from US$9 million a year earlier. On a non-GAAP basis, net income surged to US$198 million, or US$0.44 per diluted share, up 59.7 million from US$124 million a year earlier. That beat Seeking Alpha estimates of US$0.36 per share. McAfee’s stock is down US$0.98 (4.07 percent) to US$23.12 per share in after-hours trading. Earnings were announced after the market closed Tuesday. Revenue from McAfee’s enterprise business remained unchanged at US$331 million, while net income climbed to US$11 million, or US$0.02 per diluted share, up from US$1 million a year earlier. On a non-GAAP basis, net income jumped to US$88 million, or US$0.20 per diluted share, up 46.7 percent from US$60 million a year earlier. Sales in McAfee’s consumer division, meanwhile, surged to US$442 million, up 24.9 percent from US$354 million a year earlier. Net income leapfrogged to US$83 million, or US$0.16 per diluted share, up from just US$8 million a year earlier. On a non-GAAP basis, net income surged to US$110 million, or US$0.25 per diluted share, up 71.9 percent from US$64 million a year earlier. For the quarter ending June 26, McAfee expects revenue in its consumer business of US$430 million to US$434 million on earnings before interest, taxation, depreciation, and amortization (EBITDA) of US$161 million to US$165 million. McAfee didn’t provide a financial outlook for its enterprise business due to the proposed sale of the division to STG.

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Research containing Skyhigh Networks

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Skyhigh Networks in 2 CB Insights research briefs, most recently on Mar 26, 2020.

Expert Collections containing Skyhigh Networks

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Skyhigh Networks is included in 6 Expert Collections, including Identity Management.

I

Identity Management

156 items

Cybersecurity companies leading in Identity & Access Management with a core product to determine identity, and/or authenticate credentials, and/or authorize appropriate access to digital and/or physical assets.

S

Smart Money VCs (2017-2019)

6,297 items

We crunched the data to identify the 24 VC firms with the best combination of portfolio valuations and investment outcomes.

R

Regtech

1,342 items

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

C

Cloud Computing

1,330 items

Cloud computing startups develop technologies for remote (off-premises) servers used to store, manage, and process data.

E

Enterprise SaaS

2,452 items

Software-as-a-service (SaaS) – internet based software offered as a subscription – continues to become the de facto standard for software distribution and consumption. Enterprise SaaS continues to show particular promise, emerging as one of the most well-funded categories. Startu

C

Cybersecurity

4,724 items

Skyhigh Networks Patents

Skyhigh Networks has filed 41 patents.

The 3 most popular patent topics include:

  • Computer network security
  • Cloud infrastructure
  • Cloud computing
patents chart

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Title

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11/2/2016

8/10/2021

Computer network security, Computer security, Cloud computing, Data security, Cloud infrastructure

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8/10/2021

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Computer network security, Computer security, Cloud computing, Data security, Cloud infrastructure

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