Cisco ups cloud, software capabilities with SolveDirect acquisition
Cisco (Nasdaq: CSCO) is furthering its ongoing software capability acquisition spree, announcing a deal to acquire SolveDirect, a provider of cloud-delivered service management integration software and services.
One of the key elements Cisco will gain by acquiring SolveDirect is its ServiceGrid platform, which can perform end-to-end service level monitoring internally as well as for external partners for IT services.
A managed service provider could use ServiceGrid to conduct service delivery orchestration across multiple partners and applications, while reducing Mean Time to Repair (MTTR) by 25 percent and providing quicker problem resolution times.
Under the terms of the agreement, the SolveDirect management team will join the Cisco Services team under the leadership of Mala Anand, senior vice president of Cisco Services Platform Group.
Following customary standard closing conditions, Cisco said it expects to close the deal in the fourth quarter of Cisco's fiscal year 2013.
Neither Cisco nor SolveDirect revealed the financial terms of the deal.
The acquisition of SolveDirect illustrates the growing trend at Cisco to expand its cloud service and software capabilities. Over the past year, the vendor has made a number of other software-related acquisitions, including Cariden, ClearAccess, and ThinkSmart Technologies.
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