New Delhi, Dec 7 (PTI) Technology giant Cisco willacquire Cmpute.io, a privately-held company in Bengaluru, foran undisclosed amount as it looks to beef up its cloudofferings.
"To help our customers optimise the consumption of cloudresources in this more complex reality and control cloudspending, 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 companyoperating in Bengaluru and incorporated in Delaware.
"We expect the acquisition of Cmpute.io to close in thesecond quarter of Cisco's fiscal year 2018," it said.
Cmpute.io's software solution analyses cloud-deployedworkloads and consumption patterns, and identifies cost-optimisation strategies.
The solution helps customers right-size their cloudworkload instances and avoid paying for resources that do notdeliver business value, the blog said.
In October 2015, Cisco had made its first acquisition inIndia by acquiring Bengaluru-based IT security company Pawaafor an undisclosed amount.
The US-based company has been aggressively investing inthe Indian market.
It has also invested in over 25 startups in India,including Mobikwik and MobStac. In 2016, it had committedinvestments of USD 100 million to fund startups and train 2.5lakh students in India by 2020. PTI SRARD.
This is unedited, unformatted feed from the Press Trust of India wire.