Jun 29, 2004 (12:06 PM EDT)
Cisco Reels In Actona Technologies
Read the Original Article at InformationWeek
Cisco Systems said Tuesday it plans to acquire privately held software vendor Actona Technologies Inc. for $82 million in cash.
Actona makes wide-area file-services software that helps companies move data between branch and main offices, reducing the cost and complexity of remote access and backup. Cisco says that it will use the acquired technology to augment its own branch-office networking and storage products, including adding WAN-optimized file-transfer and access capabilities to its routers. Actona was founded in 2000 and employs 48 people.
Cisco already owns about 17% of Actona's stock, and subject to regulatory approval, will acquire all outstanding shares this fall. Upon completion of the deal, Actona's employees will become part of Cisco's routing technology group.
The purchase is only the latest move in Cisco's strategy to bolster the features of its products through acquisitions. Two weeks ago, the company announced plans to acquire high-end router maker Procket Networks Inc.. In April, it bought both network security vendor Riverhead Networks and VPN vendor Twingo Systems Inc..