Technology giant Cisco will acquire Cmpute.io, a privately-held company in Bengaluru, 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, Cisco is announcing our intent to acquire Cmpute.io, also known as 47Line Technologies,” Cisco said in a blogpost. Also Read - Google Workspace now available for everyone, including free Google account owners
It added that Cmpute.io is a privately-held company operating in Bengaluru and incorporated in Delaware. “We expect the acquisition of Cmpute.io to close in the second quarter of Cisco’s fiscal year 2018,” it said. Also Read - UEFA Euro 2020: Colourful Google Doodle kicks off European Football Championship
Cmpute.io’s software solution analyses cloud-deployed workloads and consumption patterns and identify cost- optimisation strategies. The solution helps customers right-size their cloud workload instances and avoid paying for resources that do not deliver business value, the blog said. Also Read - Android 12 beta 2 rolling out: New privacy features, tweaked design and more
In October 2015, Cisco had made its first acquisition in India by acquiring Bengaluru-based IT security company Pawaa for an undisclosed amount. The US-based company has been aggressively investing in the Indian market.
It has also invested in over 25 startups in India, including Mobikwik and MobStac. In 2016, it had committed investments of USD 100 million to fund startups and train 2.5 lakh students in India by 2020.