Cisco Buys Cloud-security Company

Cisco Systems Inc. announced on Tuesday that it will buy boutique security company OpenDNS for $635 million as it looks to bolster its cloud-security and Internet-of-Things offerings. Cisco's planned purchase follows its announcement of 15 new Internet-of-Things products on Monday, including 360-degree cameras with digital and audio sensors, and industrial routers. Cisco said the Internet of Things is expected to connect nearly 50 billion everyday items by 2020, increasing the need for enhanced cloud security. Shares of Cisco were up 0.8% to $27.75 in premarket trade. The security deal is expected to close in the first quarter of fiscal 2016