Cisco is acquiring privately held MaintenanceNet for $139 million, enhancing its cloud portfolio with a set of software data analytics and automation to manage renewals of recurring customer contracts.
Neither company is a stranger to one another. The pair have worked together since 2009 to offer Cisco distribution and reseller partners an automated way to improve service renewals and identify product opportunities.
What MaintenanceNet's software brings to the table is the ability to identify customers with service contracts that are coming up for renewal, overdue, or with products that are not yet covered. Its software enables automated quoting, notifications, and, in some cases, ordering online.
Debbie Dunnam, SVP for global customer success for Cisco, said the acquisition is "a critical component of our strategy for GCS to simplify and digitize our business processes."
The software helps Cisco partners capture sales opportunities in a streamlined, low-cost process.
When the deal is completed, MaintenanceNet will be joining Cisco's Global Customer Success organization, a group dedicated to improving customer engagement. Cisco said it expects the acquisition to close in its fiscal first quarter.
Cisco appears to be on a cloud acquisition roll lately. Just last week, the vendor announced it was purchasing OpenDNS for $635 million, a deal that will give it enhanced cloud security capabilities.
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