Cisco to Acquire JouleX for $107 Million
Cisco will pay $107 million in cash and retention bonuses for network and data center energy management specialist JouleX, the company announced today.
The privately held IT company will complement Cisco's own energy management systems to allow businesses to focus on network and IT energy efficiency through software-based methods of measuring, monitoring, and managing usage, the company said.
Noting that network-enabled devices are increasing exponentially, leading customers to seek out energy management capabilities in the network that reduce costs, Cisco Senior VP for Industry Solutions Faiyaz Shahpurwala said: "JouleX's cloud-enabled, agent-less architecture will allow our partners and customers to quickly deploy this solution at scale in addressing their IT energy management needs."
JouleX is headquartered in Atlanta; it was founded in Munich, Germany, and has research and development operations in Kassel, Germany. Upon completion of the acquisition, its employees will be integrated into the Connected Energy Solutions team within Cisco's Industry Solutions Group. The acquisition is expected to be complete in the fourth fiscal quarter of 2013.
The article Cisco to Acquire JouleX for $107 Million originally appeared on Fool.com.Fool contributor Rich Duprey owns shares of Cisco Systems. The Motley Fool recommends Cisco Systems. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.