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Cisco Systems Inc Announces Intent To Acquire JouleX


Wednesday, 29 May 2013 08:05am EDT 

Cisco Systems Inc announced intent to acquire privately held JouleX, an enterprise IT energy management for network-attached and data center assets. JouleX, with headquarters in Atlanta, GA, complements Cisco's existing services portfolio by using the capabilities of the network to gain visibility into and control energy usage across global IT environments. Upon completion of the acquisition, JouleX employees will be integrated into the Connected Energy Solutions team within Cisco's Industry Solutions Group, reporting to David Goddard, vice president and general manager. Under the terms of the agreement, Cisco will pay approximately $107 million in cash and retention-based incentives in exchange for all shares of JouleX. The acquisition of JouleX is expected to be complete in the fourth quarter of fiscal year 2013. 

Company Quote

24.905
0.055 +0.22%
29 Aug 2014