Cisco to Acquire Composite Software
Jun 20th 2013 6:17PM
Updated Jun 20th 2013 6:18PM
Highlighting the continued importance of data virtualization, Cisco Systems announced this morning it would acquire privately held Composite Software, a data virtualization software and services specialist, for approximately $180 million in cash and retention-based incentives.
By consolidating the data in a simplified view, Composite's software helps businesses quickly integrate and analyze data and workflow across platforms, taking into account the cloud, as well as big data. This allows businesses to make better, more informed decisions in real time. Through this connection, companies can better leverage their network knowledge and programmability, maximizing the benefits of data virtualization, because it appears as if it's all in one place.
Cisco President and COO Gary Moore said: "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."
Upon completion of the acquisition, Composite will be operated under Cisco's services platforms group and its integration brokerage technology group. The deal is expected to close in the first quarter of fiscal year 2014.
Cisco's shares are down 0.6% to $24.54 in early morning trading.
The article Cisco to Acquire Composite Software originally appeared on Fool.com.Fool contributor Rich Duprey owns shares of Cisco Systems. The Motley Fool recommends Cisco Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.