Cisco To Acquire Springpath
By MYBRANDBOOK
Cisco today announced and intent to acquire US based software firm Sunnyvale for $ 320 million. Both the firms have been in talks and also worked together since last year to launch HyperFlex solution to deliver next-generation data center innovation to its customers.
“Cisco will acquire Springpath for $320 million in cash and assumed equity awards, plus additional retention-based incentives,” Cisco said in a statement. “The acquisition is expected to close in Cisco’s first quarter of fiscal year 2018, following customary closing conditions and regulatory review.”
Springpath is the pioneer in hyperconvergence software, turning standard servers of choice into a single pool of compute and storage resources. The Springpath Data Platform eliminates the need for network storage and intuitively integrates into existing management tools to maximize operational efficiency. Using adaptive scaling capabilities, customers can grow compute, caching or capacity resources independently, depending on their changing business needs. Springpath proactively monitors your infrastructure to ensure resilient, always-on availability. Using data management and optimization capabilities, Springpath customers experience transformative levels of resource utilization, accelerating the adoption of DevOps in their organization with truly agile IT infrastructure.This acquisition will allow Cisco to continue to grow its computing business, enabling more customers to realize the benefits of simple and economic software-defined infrastructure.
"This acquisition is a meaningful addition to our data center portfolio and aligns with our overall transition to providing more software-centric solutions," said Rob Salvagno, Cisco vice president, Corporate Business Development. "Springpath's file system technology was built specifically for hyperconvergence, which we believe will deliver sustainable differentiation in this fast-growing segment. I'm excited to be able to provide our customers and partners with the simplicity and agility they need in data center innovation.
This acquisition will allow Cisco to continue to grow its computing business, enabling more customers to realize the benefits of simple and economic software-defined infrastructure.
Cisco will acquire Springpath for $320 million in cash and assumed equity awards, plus additional retention-based incentives. The acquisition is expected to close in Cisco's first quarter of fiscal year 2018, following customary closing conditions and regulatory review.
“Springpath’s file system technology was built specifically for hyperconvergence, which we believe will deliver sustainable differentiation in this fast-growing segment. I’m excited to be able to provide our customers and partners with the simplicity and agility they need in data center innovation.”
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