Cisco Acquires Springpath For $320 Mn, A Venture By Indian Founders
Cisco Systems Inc, US-based technology firm has announced it plans to acquire IIT-Kanpur and BITS Pilani alumni-founded, Springpath, Inc a Sunnyvale-based leader in hyper-convergence software for $320 million.
The acquisition will allow Cisco to continue to deliver next-generation data center innovation to its customers. Cisco first worked with Springpath’s management in 2012, and in 2015 the company led Springpath’s series C financing round.
Cisco will acquire Springpath for $320 million in cash and assumed equity awards, plus additional retention-based incentives.