Cisco to Acquire Acano for Collaboration
SAN JOSE, Calif. -- Today, Cisco announced its intent to acquire Acano Limited, a privately held company based in London that provides collaboration infrastructure and conferencing software. Acano’s hardware and software includes gateways, and video and audio bridging technology that allows customers to connect video systems from multiple vendors across both cloud and hybrid environments. This acquisition will accelerate Cisco’s collaboration strategy to deliver video everywhere, providing the best collaboration experience across every endpoint, every screen, every workspace, and to every user.
Today, less than 10 percent of the conference rooms in the world are connected via video. However, there is a massive market shift underway in collaboration – customers want the ability to easily connect from anywhere, from dedicated hardware endpoints to sharing video on a mobile phone. Cisco’s collaboration business is already seeing the impact of this trend, with 17 percent year-over-year growth in the first quarter of fiscal year 2016. As the momentum continues, there is a need to deliver solutions that will connect any system, regardless of vendor, at a scale that is dramatically higher than ever before. Acano’s technology and expertise will enable us to accelerate our development in the key areas of interoperability and scalability.
With Acano, we believe we can accelerate our collaboration momentum and bring new capabilities to market faster. Together, Cisco and Acano will be able to capture the expanding market opportunity in collaboration and deliver open and interoperable solutions whether in the cloud or via a hybrid model.
“People, companies and organizations are more geographically dispersed than ever before, and collaboration is essential to helping teams increase productivity and drive growth,” said Rob Salvagno, vice president, Cisco Corporate Development. “Acano’s innovations make it easier for customers to collaborate when, where and how they want. Together, we will help our customers to extend collaboration to every room, every screen and every user.”
The Acano team will join the Cisco Collaboration Technology Group led by Rowan Trollope, senior vice president and general manager. Under the terms of the agreement, Cisco will pay $700 million in cash and assumed equity awards, plus additional retention based incentives for Acano employees who join Cisco. The acquisition is expected to close in the third quarter of fiscal year 2016, subject to customary closing conditions including regulatory review.
Visit Rob Salvagno’s blog for more information about Cisco’s intent to acquire Acano.
Cisco Systems Inc. (Nasdaq: CSCO)