SAN JOSE, CA — (Marketwired) — 08/21/17 — Cisco (NASDAQ: CSCO) announced today its intent to acquire Springpath, Inc., a Sunnyvale-based leader in hyperconvergence software. Springpath has developed a distributed file system purpose-built for hyperconvergence that enables server-based storage systems. The acquisition will allow Cisco to continue to deliver next-generation data center innovation to its customers.
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 , 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.
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