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Cisco to acquire Springpath for $320 million

By TechTaffy Desk

Cisco will acquire Springpath, a Sunnyvale-based company for $320 million in cash. The Springpath team will join the Computing Systems Product Group led by Liz Centoni.

Springpath has developed a distributed file system purpose-built for hyperconvergence, that enables server-based storage systems. The acquisition is the culmination of a long-standing strategic relationship between the companies, said Cisco in a statement. The companies have worked together since early 2016. Cisco also made an investment in Springpath in 2015.

The acquisition is expected to close in Cisco’s first quarter of fiscal year 2018, following customary closing conditions and regulatory review.

[Image courtesy: Cisco]

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