Cisco Systems (CSCO : NASDAQ : US$24.50), Net Change: -0.03, % Change: -0.12%, Volume: 17,827,574
A Tail-f event. Cisco announced its intent to acquire privately held Tail-f Systems, a vendor of network service orchestration solutions for traditional and virtualized networks, for $175 million in cash and retention incentives.
Cisco said the acquisition of Tail-f accelerates Cisco’s cloud virtualization strategy of delivering software that increases value for their customers while supporting Cisco’s “long-standing commitment to open standards, architectures, and multi-vendor environments.” With Tail-f’s network service orchestration technology, Cisco’s service provider cloud and virtualization portfolio will simplify and automate the provisioning and management of both physical and virtual networks.
Hilton Romanski, senior vice president of Cisco Corporate Development, said, “With a rapidly increasing number of people, devices, and sensors connecting across the Internet of Everything, service providers require new capabilities to deliver value-added, cloud-based services and applications… Our goal is to help to eliminate the bottleneck caused by operational complexity within the network.”
Upon completion of the deal, Tail-f employees would join Cisco’s Cloud and Virtualization Group led by Gee Rittenhouse. The agreement is expected to be complete in the fourth quarter of fiscal 2014, subject to various closing conditions. The purchase follows Cisco’s 2012 acquisitions of network management/planning software firm Cariden and policy control software vendor BroadHop, and provides a fresh use for its offshore cash.
To see how U.S. companies are using their offshore tax and cash holdings see:http://taxhavenguru.wordpress.com/
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