Cisco CEO Chuck Robbins holds a conference at the Mobile World Congress in Barcelona, Spain, on February 27, 2019.
Joan Cros | NurPhoto | Getty Images
Cisco continued its software acquisition spree, announcing on Thursday the purchase of ThousandEyes, whose technology helps companies monitor their network for outages. Terms of the deal weren’t disclosed but Bloomberg reported earlier that the purchase price would be about $1 billion.
Since Chuck Robbins was named Cisco’s CEO in 2015, the company has been focused on expanding its portfolio of cloud-based software so it can cater to companies that are moving away from their own data center and into more distributed environments.
ThousandEyes will be part of Cisco’s new Networking Services business unit, which is run by Todd Nightingale, the company said in the release. The purchase follow’s Cisco’s 2017 acquisition of AppDynamics for $3.7 billion, which brought in software that helps companies monitor apps for bugs and quickly fix them.
“Cisco will incorporate ThousandEyes’ capabilities across Cisco’s core Enterprise Networking and Cloud, and AppDynamics portfolios to enhance visibility across the enterprise, internet and the cloud,” the statement said.
In addition to AppDynamics, Cisco’s prior software deals include the $2.35 billion purchase of Duo Security in 2018, to bulk up in the authentication space, and the $1.9 billion acquisition of Broadsoft in 2017, to add technology for contact centers.
ThousandEyes says its customers include Microsoft, Slack, PayPal and Lyft. Its venture investors included GV (formerly Google Ventures), Salesforce Ventures and Sequoia.
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