Recent official reports from Cisco have revealed that the company intends to acquire Meraki, a cloud management services provider for the price of $1.2 billion. Meraki is a vendor technology for cloud based management of wireless LAN, mobile devices, and security appliances. The acquisition has been made on terms of cash and other retention based incentives.
The acquisition of Meraki is going to prove beneficial for Cisco as Cisco plans to provide more software centric solutions to network management, help customers with better mobile workforces, and generate new business opportunities for partners.
Meraki was chosen by Cisco because Cisco has targeted Meraki’s cloud based technology to cater mid market businesses around the world. Cisco also aims at managing services of businesses who want to use the cloud for their services.
Meraki is the brain child of three doctorate students from the Massachusetts Institute of Technology. The founders plan to stay as the leaders of the new “Cloud Networking Group”
within Cisco, and work towards the goal of increasing the annual revenue to $1 billion, said Sanjit Biswas, CEO and Co-Founder of Meraki.
This new Cloud group will work towards the development of new products and services, technology and innovations with a unified objective of cloudifying all Cisco products.
“After several weeks of consideration, we decided late last week that joining Cisco was the right path for Meraki, and will help us achieve our goal of having maximum impact,” he said.
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