Cisco is digging deep into its pockets to spend approximately $3.7 billion (£2.94 billion) on business software firm AppDynamics—an apparently bold bid to make the networking giant more attractive to large enterprise customers.
San Francisco-based, privately-held AppDynamics, which describes itself as a “performance management and IT operations analytics company,” was a day away from pricing its long-awaited IPO—the first of 2017—which observers suggested might have gone some way to inflating its value.
“The fact that they were in their IPO process represented a window where we needed to make a decision,” Cisco’s corporate development vice president, Rob Salvagno, said in an interview with Reuters.
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Source: Ars Technica – In growth gamble, Cisco to buy AppDynamics for .7 billion