Cisco Announces Intent to Acquire Springpath SAN
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SAN JOSE, CA--(Marketwired - Aug 21, 2017) - Cisco (
The acquisition is the culmination of a long-standing strategic relationship between Cisco and Springpath. The companies have worked together since early 2016 to launch HyperFlex , the industry's first fully integrated hyperconverged infrastructure system. Since then, they have fully aligned on product development and go-to-market strategies. 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."
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.
Learn more: Read the blog about the Springpath acquisition from Cisco's Head of Corporate Development Read Liz Centoni's blog on "Taking a Leap Forward" in Hyperconvergence
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