Written by Kelly Hill for RCR Wireless News
Cisco has announced plans to buy out private-equity-backed network monitoring and assurance company Accedian, which has been partnering with the IT and networking giant on assurance for telco networks.
Financial terms of the agreement have not been disclosed, and the transaction is expected to close by the end of October, during Cisco’s fiscal first quarter.
Accedian was acquired by Bridge Growth Partners in 2017; Bridge Growth said that during the time it has owned the company, Accedian went through “significant business transformation,” including expansion into cybersecurity, folding Paris-based Performance Vision into the company and the establishment of a “SaaS-first platform” for Accedian’s granular network and application monitoring and analytics.
Dion Joannou, CEO of Accedian, said that the acquisition announcement is “a testament to our position on the leading edge of SaaS-based service assurance capabilities. … We are well positioned to bring significant strategic value to our global customers as part of Cisco.”
“Microseconds matter to customers and customer experience, and precise, granular performance visibility is a foundational requirement for closed-loop automation, agile telco cloud environments, and latency-sensitive 5G services,” Joannou said, as relayed in a Cisco blog post on the acquisition. “We look forward to bringing our critical capabilities to a wider set of solutions within Cisco’s Networking portfolio and taking the next step in the partnership we have built with Cisco and our joint customers over the last years.”
