Cisco sells stake in cybersecurity firm Rubrik – report
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Cisco Systems (NASDAQ:CSCO) sold off its shares in Rubrik (NYSE:RBRK), months after the cybersecurity firm’s initial public offering, Barron’s reported.
Cisco owned 183,081 shares of Rubrik as of June 30, the report added, citing a form filed by the networking giant with the SEC.
Cisco’s stake in Rubrik stake was valued at a little below $6M at the end of the second quarter. The company sold its Rubrik stock by Sept. 30, the report noted.
Rubrik, which counts Microsoft (MSFT) among its prominent investors, had priced its offering at $32 each, and began trading in April. It was not known when Cisco acquired Rubrik’s stock. Cisco’s CFO Scott Herren has been a Rubrik director since 2021, according to the report.
In August, the companies announced that Rubrik would join Cisco’s SolutionsPlus program, a strategic move where all of Rubrik’s products–including its Data Security Posture Management offering–are added to Cisco’s Global Price List.