Feeds

Cisco gobbles up Parc Technologies

$9m for UK university spin-off

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

Cisco has agreed to pay $9m for Parc Technologies, a small UK business spun out of Imperial College London's (IC) search algorithm research centre. Cisco expects the acquisition to close in the first financial quarter of 2005.

The company was founded in 1999 to exploit the technologies researchers were developing at IC. The researchers were working on constraint programming, described by Eugene C. Freuder as "the closest approach computer science has yet made to the Holy Grail of programming".

According to Martin Müller, an associate professor of computer science at the University of Alberta, constraint programming is a way of solving computationally hard problems. Parc's solutions use constraint programming to solve otherwise impossible network routing problems. The company has developed a variety of optimisation tools and traffic engineering solutions based on the research.

In 2001, Parc managed to secure $23m in additional funding, with a substantial portion of that cash coming from Cisco. Under the terms of this latest deal, Cisco will pay approximately $9m in cash for all outstanding shares.

Once the acquisition closes, Parc CEO Gideon Agar will report to Cliff Meltzer, senior vice president of Cisco's Network Management Technology Group. ®

Related stories

Cisco unveils monster router
Cisco buys software backup firm
Cisco sued in Wi-Fi patent clash

Remote control for virtualized desktops

More from The Register

next story
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.