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Cisco Announces Intent to Acquire Tidal Software
Intelligent Application Management and Automation Solutions Will Advance Cisco's Data Center Strategy
| Source: Cisco
SAN JOSE, CA--(Marketwire - April 9, 2009) - Cisco (NASDAQ : CSCO ) today announced its
intent to acquire privately held Tidal Software, Inc. Based in
Palo Alto, Calif., and Houston, Tidal Software is the creator of
intelligent application management and automation solutions that will
advance Cisco's data
center strategy by enhancing product and service delivery offerings.
"Cisco believes the network has become the logical platform to manage and
maintain mission-critical applications," said Gary
Moore, senior vice president of Advanced Services at Cisco. "With the
acquisition of Tidal Software, Cisco will accelerate its ability to help
customers optimize the performance of their business applications and
automate operational best practices in real time, which will lead to
significantly reduced operational costs."
Tidal Software's intelligent solutions will bolster Cisco's data center
strategy by providing timely, accurate and cost-efficient management and
automation of application performance across entire business operations,
from the server through the network to the desktop. The acquisition will
also create significant opportunities for Cisco and its partners through
the delivery of partner-led services, leveraging Cisco's application
management capabilities.
Cisco is pioneering the development of next-generation data centers that
unleash the full power of virtualization. It recently unveiled its vision of Unified Computing, an
evolutionary data center architecture which unites compute, network,
storage access, and virtualization resources in a single cohesive system.
The Tidal Software acquisition exemplifies Cisco's "build, buy and partner"
innovation strategy to move quickly into new markets and capture key market
transitions. Under the terms of the agreement, Cisco will pay
approximately $105 million in cash and retention-based incentives.
Upon the close of the acquisition, the Tidal Software team will become part
of the Cisco Advanced Services organization. The acquisition is subject to
various standard closing conditions and is expected to close in the fourth
quarter of Cisco's fiscal year 2009. The acquisition will be accounted for
in accordance with generally accepted accounting principles.
About Cisco Systems
Cisco (NASDAQ : CSCO ) is the worldwide leader in networking that transforms
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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.
Forward-Looking Statements
This press release contains projections and other forward-looking
statements regarding expected performance of Cisco following completion of
the acquisition, including statements related to Cisco's Advanced Services
business and data center strategy. Statements regarding future events are
based on the parties' current expectations and are necessarily subject to
associated risks related to, among other things, the successful completion
of the acquisition, the retention of employees of Tidal Software and the
ability of Cisco to successfully integrate Tidal Software and to achieve
expected benefits. Actual results may differ materially from those in the
projections or other forward-looking statements. For information regarding
other related risks, please see the "Risk Factors" section of Cisco's
filings with the SEC, including its most recent filings on Form 10-K and
Form 10-Q.
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