Cisco to acquire cloud solutions company cmpute.io
Technology giant Cisco will acquire Bengaluru-based cmpute.io for an undisclosed amount, as it looks to beef up its cloud offerings.
“To help our customers optimise the consumption of cloud resources in this more complex reality and control cloud spending, we announce our intent to acquire cmpute.io, also known as 47Line Technologies,” Cisco said in a blogpost.
cmpute.io is a privately-held company operating in Bengaluru, and incorporated in Delaware.
“We expect the acquisition to close in the second quarter of Cisco’s fiscal year 2018,” it said.
cmpute.io’s software solution analyses cloud-deployed workloads and consumption patterns, and identifies costoptimisation strategies.
The solution helps customers right-size their cloud workload and avoid paying for resources that do not deliver business value, the blog said.
In October 2015, Cisco had made its first acquisition in India by procuring Bengalurubased IT security company Pawaa, for an undisclosed amount.