Cisco to acquire Sheer Networks

Cisco to acquire Sheer Networks

Networking giant Cisco is on a buying spree. Their latest acquisition is of the Sheer Networks Company which is a privately held entity dealing in network and service management products. The deal is going to cost Cisco around USD 122 million. The company would be paying USD 97 million in cash and options for Sheer Network.

Cisco also said that if Sheer manages to meet certain development and product milestones are met after the close of the transaction they would pay extra amount which can be as much as USD 25 million. The deal is expected to be complete in this fiscal quarter only and the proceedings are expected to begin at the beginning of next month.

The company had just announced their plans to acquire Kiss Technology last week and they have been in this acquisition mood since the beginning of the year. They would be using their latest acquired technical expertise to develop Cisco’s next-generation management products for service providers and large businesses.

Cliff Meltzer, senior vice president for Cisco’s Network Management Technology Group spoke to the press about these developments: “Our blueprint for Cisco network management includes a common services platform on which applications are delivered and the ability to support management applications from Cisco and other vendors. Sheer has a similar philosophy and parallel architecture which will accelerate our delivery of Cisco’s next-generation management platform and advanced applications to our service provider customers.”