Cisco Announces Intent to Acquire Pari Networks
In addition to advanced technology, Pari Networks brings to Cisco an industry-leading team of engineers that will continue to build out and strengthen Cisco's smart service capabilities.
SAN JOSE, CA - January 26, 2011 - Cisco (NASDAQ: CSCO) today announced its intent to acquire privately-held Pari Networks, a leading provider of network configuration and change management (NCCM) and compliance management solutions that will complement Cisco's smart service capabilities. Based in Milpitas, Calif., with part of its employee base in Hyderabad, India, Pari Networks' technology will integrate into Cisco's smart services and help accelerate the ability of Cisco and its partners to manage the health and stability of customer networks through proactive, personalized services.
"As business functions become more reliant on devices and applications that run over their networks, customers realize that maintaining the health and performance of the network is critical," said Joe Pinto, senior vice president of Cisco's Technical Services. "Pari Networks will help Cisco and our partners to deliver smarter, more proactive services that help our customers to identify potential network problems before they occur and optimize the performance, management and efficiency of their networks."
In addition to advanced technology, Pari Networks brings to Cisco an industry-leading team of engineers that will continue to build out and strengthen Cisco's smart service capabilities. Cisco and its partners have been evolving service offerings from reactive to proactive by embedding smart service capabilities throughout professional and technical services.
Financial terms of the transaction are undisclosed. The acquisition is subject to various standard closing conditions and is expected to be complete in the third quarter of Cisco's fiscal year 2011. Upon the close of the acquisition, Pari Networks employees will be integrated into Cisco's Technical Services.
About Cisco Systems
Cisco (NASDAQ: CSCO) is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com
Cisco, the Cisco logo, and Cisco Systems are registered trademarks of Cisco Systems, Inc. in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the expected completion of the acquisition and the time frame in which this will occur, the expected benefits to Cisco, its partners and its customers from completing the acquisition, and plans regarding Pari Networks personnel. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including, among other things, the potential impact on the business of Pari Networks due to the uncertainty about the acquisition, the retention of employees of Pari Networks and the ability of Cisco to successfully integrate Pari Networks and to achieve expected benefits, business and economic conditions and growth trends in the networking industry, customer markets and various geographic regions, global economic conditions and uncertainties in the geopolitical environment and other risk factors set forth in Cisco's most recent reports on Form 10-K and Form 10-Q. Any forward-looking statements in this release are based on limited information currently available to Cisco, which is subject to change, and Cisco will not necessarily update the information.