Networking supplier Cisco Systems has agreed to acquire privately held software maker ThousandEyes in order to bolster revenue of Networking Services business.
The deal is worth nearly $1 billion, Bloomberg reported earlier.
Sequoia Capital, Sutter Hill Ventures, Tenaya Capital, GV, Thomvest and Salesforce Ventures are the investors of ThousandEyes.
ThousandEyes, headquartered in San Francisco, CA, supplies Internet and Cloud intelligence platform delivering insights into the digital delivery of applications and services over the Internet.
ThousandEyes will join Cisco’s newly-formed Networking Services business unit, reporting to Todd Nightingale, Cisco announced. Todd Nightingale is the senior vice president and general manager, Enterprise Networking and Cloud at Cisco.
As part of the Networking Services business unit, ThousandEyes CEO and co-founder Mohit Lad will take on the role of GM of ThousandEyes, and co-founder, CTO Ricardo Oliveira will continue to drive ThousandEyes product vision and innovation strategy.
Cisco in 2017 acquired AppDynamics for $3.7 billion, which brought in software that helps companies spot bugs in their apps and quickly fix them.
Cisco’s prior software deals include the $2.35 billion purchase of Duo Security in 2018, to bulk up in the authentication space, and the $1.9 billion acquisition of Broadsoft in 2017, to add technology for contact centers, CNBC reported.
