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U.S. networking giant announces $260 million acquisition of cloud firm CliQr.
Cisco on Tuesday announced the $260 million acquisition of cloud technology company CliQr.
The U.S. giant said that bringing CliQr in house will help its customers simplify and accelerate their private, public and hybrid cloud deployments.
California-based CliQr offers a cloud orchestration platform that enables customers to manage apps across hybrid IT environments. It is already integrated with various Cisco data centre switching and cloud solutions.
"Customers today have to manage a massive number of complex and different applications across many clouds," said Rob Salvagno, vice president of corporate development at Cisco, in a statement.
"With CliQr, Cisco will be able to help our customers realize the promise of the cloud and easily manage the lifecycle of their applications on any hybrid cloud environment," he added.
Cisco said the CliQr team will join its Insieme business unit reporting to Prem Jain, senior vice president and general manager.
It expects to close the deal in the third quarter of fiscal 2016, which runs until late April.
