Cisco Sells Stake In Data Security Provider Rubrik
Summary
Cisco has sold its stake in data security provider Rubrik, which became a publicly traded company in April.As originally reported by Barrons, Cisco owned 183,081 shares of Rubrik as of June 30. Ciscos stake in Rubrik was valued just below $6 million at the end of the second quarter. All of Rubriks products, including its data security posture management (DSPM) offering, are now on Ciscos Global Price List. Joint customers now have a validated architecture to mitigate ransomware and ensure business continuity.Rubrik made its New York Stock Exchange debut on April 25 and its stock price immediately jumped 20%. The stock is trading under the ticker symbol RBRK and its price on Thursday closed at $34.63 per share.Rubrik has more than $919 million in subscription annual recurring revenue (ARR) and 1,969 customers with $100,000 or more in subscription ARR as of July 31.
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