New Delhi, Dec 7 (PTI) Technology giant Cisco will acquire Cmpute.io, a privately-held company in Bengaluru, for an undisclosed amount as it looks to beef up its cloud offerings.
"To help our customers optimise the consumption of cloud resources in this more complex reality and control cloud spending, Cisco is announcing our intent to acquire Cmpute.io, also known as 47Line Technologies," Cisco said in a blogpost.
It added that Cmpute.io is a privately-held company operating in Bengaluru and incorporated in Delaware.
"We expect the acquisition of Cmpute.io to close in the second quarter of Cisco's fiscal year 2018," it said.
Cmpute.io's software solution analyses cloud-deployed workloads and consumption patterns, and identifies cost- optimisation strategies.
The solution helps customers right-size their cloud workload instances and avoid paying for resources that do not deliver business value, the blog said.
In October 2015, Cisco had made its first acquisition in India by acquiring Bengaluru-based IT security company Pawaa for an undisclosed amount.
The US-based company has been aggressively investing in the Indian market.
It has also invested in over 25 startups in India, including Mobikwik and MobStac. In 2016, it had committed investments of USD 100 million to fund startups and train 2.5 lakh students in India by 2020. PTI SR ARD .
This is unedited, unformatted feed from the Press Trust of India wire.