Cisco (NASDAQ: CSCO) has announced its intent to acquire OpenDNS, a provider of advanced threat protection for any device. OpenDNS had raised roughly $53 million in VC financing prior to the announcement, receiving backing from Sequoia Capital, DAG Ventures and Greylock Partners, among others. Its most recent equity financing of $35 million generated a valuation of $304 million in May 2014. Cisco will pay $635 million in cash and assumed equity awards, plus retention-based incentives for the company; the transaction is expected to close in 1Q 2016. Concurrent with the transaction, the OpenDNS team will join the Cisco Security Business Group organization.