Today Cisco announced its intent to acquire the hyperconvergence software company, Springpath, Inc. Cisco will acquire the company 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.
Today Cisco announced its intent to acquire the hyperconvergence software company, Springpath, Inc. Cisco will acquire the company 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.
The two companies have had a long-standing strategic relationship. At the beginning of 2016, the two companies worked together on the launch of HyperFlex, a fully integrated hyperconverged infrastructure system. Since this partnership the companies have been fully aligned on product development and go-to-market strategies.
Springpath has developed a distributed file system purpose-built for hyperconvergence that enables server-based storage systems. Through this acquisition Cisco will continue delivering next-generation data center innovation to its customers while also continuing to grow its computing business. The acquisition will help Cisco’s customers to better realize the benefits of simple and economic software-defined infrastructure.
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