Cisco To Acquire ISV To Boost Branch Office Portfolio

Los Gatos, Calif.-based Actona develops wide-area file services software, which Cisco said it plans to use to bolster its branch office access router and data-center storage consolidation solutions. Together, the technologies will help improve file sharing and backup for remote offices over the WAN, according to Cisco.

The deal is expected to close in Cisco's fiscal 2005 first quarter. The San Jose, Calif.-based networking vendor said it plans to expand its current stake in Actona by purchasing all outstanding shares not already held for Cisco's account and convert outstanding Actona options to Cisco options.

After the acquisition closes, the Actona team will report to George Kurian, vice president and general manager of the Routing Technology Group at Cisco. Founded in 2000, Actona has 48 employees in the United States and Haifa, Israel.

Shares of Cisco traded up 32 cents to $23.62 Tuesday afternoon following the announcement.

Sponsored post