Cisco seeks to gobble virty data biz Composite
Networking giant has a cloud itch to scratch
Cisco has announced it wants to slurp private firm Composite Software, which brings together traditional and cloud data in a single view, for about $180m.
The networking giant said it would like to splice the data virtualisation software and services company into its own portfolio of Smart Services.
"Cisco's strategy is to create a next generation IT model that provides highly differentiated solutions to help solve our customers' most challenging business problems," Cisco COO Gary Moore said in a canned statement.
"By combining our network expertise with the performance of Cisco's Unified Computing System and Composite's software, we will provide customers with instant access to data analysis for greater business intelligence."
The firm added that Composite employees would be acquired along with the company in the deal and would join Cisco’s services team. It’s willing to pay some $180m in cash and retention-based incentives for the virtualization business and would hope to seal the deal by the first quarter of fiscal 2014. ®