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Cisco Systems Inc Announces Intent To Acquire WHIPTAIL


Tuesday, 10 Sep 2013 08:00am EDT 

Cisco Systems Inc announced its intent to acquire privately held WHIPTAIL, a high performance, scalable solid state memory systems that enable organizations to simplify data center and virtualized environments and process more data in less time. Based in Whippany, N.J., WHIPTAIL will strengthen Cisco's Unified Computing System (UCS) strategy and enhance application performance by integrating scalable solid state memory into the UCS's fabric computing architecture. Upon completion of the acquisition, WHIPTAIL employees will be integrated into the Computing Systems Product Group led by Paul Perez, vice president and general manager. Under the terms of the agreement, Cisco will pay approximately $415 million in cash and retention-based incentives in exchange for all shares of WHIPTAIL. The acquisition of WHIPTAIL is expected to be complete in the first quarter of fiscal year 2014, subject to customary closing conditions. 

Company Quote

23.5
-0.02 -0.09%
23 Apr 2014