Cisco Systems To Acquire Cloud Computing Company SolveDirect
March 25, 2013
Grazed from InvestorsDaily. Author: Pete Barlas.
Cisco Systems (CSCO) said early Monday that it would acquire SolveDirect, a privately held enterprise software company based in Vienna, Austria. The acquisition will boost Cisco’s growing portfolio of products for cloud computing environments. Terms were not disclosed.
The No. 1 maker of computer networking gear such as switches and routers, Cisco has been building up its software business through mostly small acquisitions of software companies that deal in cloud computing, a system that lets companies access their data and apps over the Internet "cloud." Here is a recent IBD report on Cisco’s software progress…
Other tech giants that aim to sell a broad range of products and services to enterprises, such as IBM (IBM) and Oracle (ORCL), also are expanding their cloud efforts. Acquiring SolveDirect will help push Cisco’s move into the cloud, Hilton Romanski, Cisco’s head of global mergers and acquisitions, said in a company blog post on Monday…
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