Cisco Might Acquire Acano For $700M To Improve Video Conferencing
Cisco is buying Acano for $700 million hoping to achieve better videoconferencing through this collaboration.
Cisco has announced it plans to acquire Acano for $700 million, which is a company from London that provides conferencing software and infrastructure. This London-based organization consists of video and audio tech from hardware to software. The company’s team will work with the Silicon Valley tech giant.
Cisco systems will buy out Acano in $700 million, with the hope of growing and expanding its services of videoconferencing and enhancing other services through the collaboration. It is famous for collaborations with smaller business in the market; thus, this is not a surprise for the public, it is always making new and innovative additions in its products and services portfolio through such beneficial collaborations.
Since Cisco is planning to buy out its hardware used in video conferences by cloud computing services and other companies, it is understood that it is aiming to improve its videoconferencing through the collaboration.
The Information Technology Company’s senior vice president, Rowan Trollope said, “Our big customers are telling us, ‘we want to do more with Cisco but it has to coexist with our legacy infrastructure,’ Acano is the bridge that makes everything works with everything else.” He also said his company provides cloud service and with help of the collaboration, those services can be enhanced and made more efficient.
Both the teams of the companies are expected to work together, under the supervision of the vice president, Rowan Trollope. Cisco is going to pay Acano cash as well as other incentives to the workers of the company who will be working with it. The deal will be sealed completely by 2016’s third quarter, with the terms and conditions agreed upon.
Cisco has been signing deals with smaller companies for a while now. It also announced collaboration with Ericson AB recently just this month, and the month earlier, the company bought out Lancope for $453 million. It has collaborated with many smaller businesses in order to make its own services better for the customers and expand. It has been also making reports of making huge changes when it comes to online security, which is becoming a priority nowadays due to the rising rates of cybercrime each day.
Cisco is fighting against the cyber-attacks by providing efficient and effective security to its customers. Clients have acknowledged its security services, which has consequently strengthened its market presence among other rivals in the industry.
Cisco stock closed at $27.32, going green by 0.29% on November 27.